Font ResizeBy Lu Wang
BLOOMBERG NEWS
Shares of the following companies are having unusual moves in U.S. trading this morning.
Alkermes Inc. (ALKS US) declined 9.4 percent to $9.40 after slumping as 13 percent, the most intraday since April 3. The developer of an inhaled insulin said Ortho-McNeil-Janssen Pharmaceuticals Inc. and Janssen Pharmaceutica International decided not to pursue further development of the four-week long- acting injectable formulation of risperidone.
American International Group Inc. (AIG US) had the biggest gain in the Standard & Poor's 500 Index, jumping 12 percent to $42.33. The insurer bailed out by the U.S. rose on speculation it may benefit from improved relations with former Chief Executive Officer Maurice "Hank" Greenberg, who led the company for almost four decades. Robert Benmosche, named this month as the New York-based insurer's fifth CEO in four years, told Reuters he contacted Greenberg after taking the job.
Boeing Co. (BA US) rose the most in the Dow Jones Industrial Average, surging 7.1 percent to $51.22. The world's second-biggest commercial-jet builder said it still expects the Dreamliner 787 to be profitable. The company will take a $2.5 billion charge in the third quarter for the delayed 787, which will now enter service at the end of next year.
Spirit AeroSystems Holdings Inc. (SPR US), which counts Boeing as its largest customer, added 7.3 percent to $15.82.
Clean Energy Fuels
Conn's Inc. (CONN US) dropped 12 percent to $11.59 and sank 17 percent earlier, the most intraday since May 7. The home appliance and electronics chain in the southwest U.S. reduced its full-year forecast, saying it expects to earn $1.60 a share at most. That's short of the average estimate of $1.63 from analysts in a Bloomberg survey.
FX Energy Inc. (FXEN US) slumped 23 percent to $3.51 after dropping as much as 25 percent, the most intraday since Oct. 10. The oil company said it plans to plug and abandon the Ostrowiec- 1 wildcat well in Poland after the well encountered extremely high pressure non-flammable nitrogen gas and lost circulation.
Guess? Inc. (GES US) added 6.9 percent to $34.37 and increased earlier to $34.59, the highest intraday price since Oct. 2. The clothing maker reported second-quarter profit of 64 cents a share, topping the average analyst estimate by 47 percent.
Immunomedics Inc. (IMMU US) rallied 57 percent to $6.70 after surging as much as 64 percent, the most intraday since at least 1984. The maker of products for cancer and autoimmune diseases said the experimental epratuzumab drug that it is jointly developing with UCB SA showed a "clinical meaningful treatment effect" compared with a placebo in mid-stage tests in patients with the condition known as lupus.
Jo-Ann Stores Inc. (JAS US) climbed 8.1 percent to $27.72 and rose earlier to $28.17, the highest intraday price since June 2007. The largest U.S. fabric retailer boosted its full- year forecast after reporting a narrower loss in the second quarter than analysts expected.
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NCI Building Systems Inc. (NCS US) tumbled 30 percent to $2.44 and plunged 40 percent earlier, the most intraday since March 11. The maker of metal building components said it's in talks with Clayton, Dubilier & Rice Inc. and existing convertible note holders to amend the terms of an exchange offer in which Clayton will invest $250 million in the company.
Nyfix Inc. (NYFX US) rallied 90 percent to $1.63 and jumped 93 percent earlier, the most intraday since 1990. NYSE Euronext (NYX US), operator of the world's largest stock exchange, agreed to buy the electronic brokerage that provides trading systems to the New York Stock Exchange, for about $144 million, or $1.68 a share.
Oshkosh Corp. (OSK US) climbed 15 percent to $31.73 and increased 16 percent earlier, the most intraday since July 1. The truckmaker said it was awarded a $280.9 million contract by the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command for the U.S. Army's Family of Medium Tactical Vehicles rebuy program.
Precision Castparts Corp. (PCP US) gained 8.5 percent to $94.14 and advanced earlier to $95, the highest intraday price since Sept. 17. The maker of metal forgings for jet engines agreed to buy Carlton Forge Works and another manufacturing plant for $850 million to gain seamless rolled rings used in aircraft engines and gas turbines. Broadpoint AmTech upgraded the stock to "buy" from "neutral."
Sigma Designs Inc. (SIGM US) fell 15 percent to $14.59 and dropped 16 percent earlier, the most intraday since Oct. 6. The maker of chips for Internet television set-top boxes and Blu-ray video players reported second-quarter profit that was in line with analysts' estimates.
Toll Brothers Inc. (TOL US) declined 2.2 percent to $22.63. The largest U.S. builder of luxury homes posted a wider quarterly loss, which was also bigger than analysts' estimates.
Other homebuilders also retreated. D.R. Horton Inc. (DHI US) fell 4.3 percent to $13.20. Pulte Homes Inc. (PHM US) lost 4.3 percent to $12.74. Lennar Corp. (LEN US) dropped 4.9 percent to $14.82. KB Home (KBH US) decreased 4.2 percent to $17.47.
