Bloomberg News

Caterpillar, First Solar, LDK Solar, WebMD: U.S. Equity Movers

October 24, 2011

Oct. 24 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.

Solar stocks advanced after Yingli Green Energy Holding Co. (YGE US), the Chinese maker of solar-power modules whose stock slumped 72 percent from April 1 through last week, reported a surge of sales in Germany and an acceleration in Italy.

Yingli Green Energy gained 8.7 percent to $3.89. First Solar Inc. (FSLR US) jumped 7.8 percent to $57.95. MEMC Electronic Materials Inc. (WFR US) advanced 7.8 percent to $6.25. Trina Solar Ltd. (TSL US) climbed 9.7 percent to $7.84. LDK Solar Co. (LDK US) rallied 11 percent to $3.33. JA Solar Holdings Co. (JASO US) increased 14 percent to $2.43.

Adolor Corp. (ADLR US) soared 143 percent, the most intraday since it went public in November 2000, to $4.67. Cubist Pharmaceuticals Inc. (CBST US), the maker of the antibiotic Cubicin, said it will acquire biopharmaceutical company for $190 million in cash to gain a constipation drug. Cubist slid 1.9 percent to $39.60.

Caterpillar Inc. (CAT US) gained 5 percent, the most in the Dow Jones Industrial Average, to $91.77. The world’s largest maker of construction and mining equipment reported third- quarter earnings excluding some items of $1.71 a share, exceeding the average analyst estimate of $1.57 a share, as demand for shovels and drills used to dig up metals rose.

Coventry Health Care Inc. (CVH US) rose 7.4 percent to $32.13, while Health Net Inc. (HNT US) rallied 7.3 percent to $27.36. The companies may be takeover targets as larger managed- care providers move to expand business through acquisitions, Barron’s reported, citing Jim Lane, a New Jersey-based money manager.

Exelixis Inc. (EXEL US) surged 24 percent, the most since Nov. 18, to $7.44. The biotechnology company’s phase 3 clinical trial of cabozantinib for advanced medullary thyroid cancer met the primary endpoint of improving progression-free survival, compared with a placebo.

Freeport-McMoRan Copper & Gold Inc. (FCX US) rose 8 percent, the most since August 2009, to $39.50. The company’s shares may rise to $75 in the next couple of years if demand and limited supply pushes copper price toward $4 a pound, Barron’s reported, citing Douglas Chudy of Dalton Greiner Hartman Maher.

Healthspring Inc. (HS US) soared 34 percent to $53.71 for the biggest gain since its initial public offering in February 2006. Cigna Corp. (CI US) agreed to buy the Franklin, Tennessee- based health maintenance organization for a $3.8 billion, or $55 a share.

SXC Health Solutions Corp. (SXCI US) plunged 23 percent to $43.37 for the biggest retreat in the Russell 1000 Index. Healthspring is a customer of the provider of pharmacy benefit management services and health-care information technology.

Kimberly-Clark Corp. (KMB US) fell the most in the Standard & Poor’s 500 Index, erasing 4.6 percent to $69.65. The maker of Scott toilet paper and Huggies diapers said third-quarter earnings fell 7.9 percent amid lower demand in North America and Europe. The company cut the top end of its annual earnings-per- share forecast to $4.90 from $5.05.

RightNow Technologies Inc. (RNOW US) rallied 19 percent to $42.94, the highest price since its initial public offering in August 2004. Oracle Corp. (ORCL US) agreed to buy the Web-based customer service provider for $1.5 billion to expand its offering of Internet-based services. Rightnow investors will get $43 a share.

Schweitzer-Mauduit International Inc. (SWM US) jumped 19 percent to $70.98 for the biggest increase since at least November 1995. The maker of fine papers for the tobacco industry and Delfortgroup settled patent litigation and entered a license agreement.

SemGroup Corp. (SEMG US) climbed 20 percent, the most since March 2010, to $28.27. Plains All American Pipeline LP (PAA US) is taking a $1 billion cash bid for SemGroup Corp. directly to the energy transport company’s shareholders, after the board rejected its offer. The shares extended gains after SemGroup said Plains All American’s proposal undervalues the company. SemGroup said it is willing to consider a deal reflecting fair value.

WebMD Health Corp. (WBMD US) rose 11 percent, the most since Aug. 3, to $36.10. Billionaire Carl Icahn bought a 7.94 percent stake in the medical-information company and said the shares are undervalued from a long-term perspective, according to a regulatory filing.

--With assistance from Whitney Kisling, Lu Wang, Donal Griffin and Kaitlyn Kiernan in New York. Editors: Stephen Kleege, Jeff Sutherland

To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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