Plus more stocks making headlines in Tuesday's market
Dec. 1 (Bloomberg) — Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 11 a.m. in New York.
Altera Corp. (ALTR) added 5.1 percent to $22.11 after climbing earlier to $22.16, the highest intraday price since September 2008. The maker of programmable semiconductors said it expects sales for the fourth quarter to rise 15 percent to 18 percent from the previous three months. Previously, it projected sales growth of 10 percent at most.
American International Group Inc. (AIG) had the biggest advance in the Standard & Poor's 500 Index, rallying 12 percent to $31.76. The insurer said it reduced debt owed to the Federal Reserve Bank of New York by $25 billion after handing over stakes in two overseas units.
Boston Private Financial Holdings Inc. (BPFH) jumped 11 percent to $5.20 and rose 13 percent earlier, the most intraday since Sept. 18. The owner of Boston Private Bank & Trust Co. was raised to "buy" from "neutral" at SunTrust Robinson.
Green Plains Renewable Energy Inc. (GPRE) gained 12 percent to $13. The ethanol producer climbed after the U.S. Environmental Protection Agency said gasoline needs to contain more of the fuel.
Guess? Inc. (GES) jumped 13 percent to $41.88 after rising earlier to $42.25, the highest intraday price since September 2008. The clothing maker forecast 2010 profit of at least $2.45 a share, topping the average analyst estimate of $2.19, according to Bloomberg data.
Helix Energy Solutions Group Inc. (HLX) jumped 10 percent to $12.98 and advanced 11 percent earlier, the most intraday since May 6. The oil and gas services company announced a discovery in the Gulf of Mexico.
Interoil Corp. (IOC) rallied 10 percent to $61.55 after jumping earlier to $62.19, the highest intraday price since 1997. The developer of Papua New Guinea's first liquefied natural gas facility said the Antelope 2 well produces 129,000 barrels of oil equivalent per day.
Mentor Graphics Corp. (MENT) advanced 11 percent to $8.20 and rallied 14 percent earlier, the most intraday since Aug. 21. The maker of software for designing and testing semiconductors was raised to "overweight" from "underweight" at JPMorgan Chase & Co.
OmniVision Technologies Inc. (OVTI) fell 11 percent to $12.45 and slipped 13 percent for the biggest intraday decline since Feb. 27. The maker of image sensors for camera phones forecast third-quarter revenue of $160 million at most, trailing the average analyst estimate of $171.7 million.
Pfizer Inc. (PFE) rose the most in the Dow Jones Industrial Average, adding 2.7 percent to $18.66. The maker of Lipitor, the world's best-selling drug, said it will enter the generic-drug market in Japan as early as 2011 to bolster sales of its medicines that have lost patent protection.
Protalix BioTherapeutics Inc. (PLX) dropped 8.6 percent to $9.01 and erased 15 percent earlier, the most intraday since June 29. Pfizer Inc. bought rights to the Israeli drugmaker's experimental Gaucher's disease treatment, disappointing some investors who had bet on an outright takeover.
Radian Group Inc. (RDN) jumped 15 percent to $5.16 after advancing as much as 16 percent, the most intraday since Nov. 4. The second-largest U.S. mortgage insurer said loan delinquency rates in November were less than projected.
SandRidge Energy Inc. (SD) fell the most in the Russell 1000 Index, sliding 6.2 percent to $8.80. The producer of natural gas and crude oil agreed to buy Forest Oil Corp.'s (FST:US) stake in Permian Basin properties in West Texas and New Mexico for approximately $800 million. Forest Oil jumped 11 percent to $20.28.
Staples Inc. (SPLS) added 5.4 percent to $24.58 after climbing earlier to $24.68, the highest intraday price since September 2008. The world's largest office-supply retailer reported third-quarter earnings that topped analysts' estimates as North American customer visits increased for the first time in nine quarters.
To contact the reporter on this story: Lu Wang in New York at firstname.lastname@example.org.