The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 4 p.m. New York time.
Aruba Networks Inc. (ARUN US) rose $3.15, or 29 percent, to $14.15. The maker of wireless networking equipment raised $88 million in an initial public offering, selling 8 million shares at $11 a piece. The sale of an 11 percent stake values Aruba at about $1 billion.
Barrier Therapeutics Inc. (BTRX US) rose 72 cents, or 12 percent, to $6.89. The maker of dermatological treatments said in a statement that results of a study of its oral antifungal drug Pramiconazole met the primary endpoint for treating tinea, a skin fungal infection.
BioCryst Pharmaceuticals Inc. (BCRX US) fell $1.58, or 16 percent, to $8. The drugmaker voluntarily suspended the trial of an intravenous form of the cancer drug Fodosine, citing problems with stability, according to a company statement.
CombinatoRx Inc. (CRXX US) fell 24 cents, or 3.3 percent, to $7.02. The drugmaker said experimental drug CRx-139 failed to show any statistical significance in the second phase of a clinical trial. The drug is being tested for rheumatoid arthritis, the company said.
DuPont Co. (DD US) fell $1.55, or 3 percent, to $49.81. Soleil Securities lowered its share-price forecast and earnings estimates for the third-largest U.S. chemical company because of the outlook for the housing market and higher raw-material costs.
Electronic Clearing House Inc. (ECHO US) fell $6.38, or 34 percent, to $12.23. Intuit Inc. (INTU US) canceled its planned $142 million purchase of the provider of transaction processing services, which said in a statement it will surrender $2.3 million in earnings as part of a federal investigation of online gaming Web sites. Intuit rose 18 cents to $27.55.
FuelCell Energy Inc. (FCEL US) rose $1.50, or 21 percent, to $8.70. The Connecticut Clean Energy Fund recommended that utilities buy power from six planned projects using the company's fuel-cell technology. Northeast Utilities' Connecticut Light & Power and UIL Holdings Corp.'s United Illuminating have 60 days to sign contracts to buy up to a combined 68 megawatts of power from the projects, FuelCell spokeswoman Lisa Lettieri said in an interview today.
GameStop Corp. (GME US) rose $3.19, or 11 percent, to $31.16. The world's biggest video-game retailer said fourth- quarter profit rose 53 percent and forecast earnings that exceeded analysts' estimates on sales of new video games. Net income increased to 81 cents a share. Earnings next year will rise to as much as $1.40 a share, 4 cents above analysts' estimates, GameStop said.
Hitachi Ltd. American depositary receipts (HIT US), each representing 10 shares, gained $2.25, or 3 percent, to $76.41. Japan's biggest electronics company will double hard-disk drive production in China this year as part of plans to save $300 million and be closer to customers expanding in the world's most populous nation.
Ingersoll-Rand Co. (IR US) fell $1.52, or 3.4 percent, to $43.81. UBS AG analysts including David Bleustein downgraded the maker of Bobcat backhoes and Thermo-King refrigerated trucks to ``neutral'' from ``buy'' and lowered their 2007 and 2008 profit estimates for the company because weakness in the housing and heavy-duty truck markets ``has the potential to pressure earnings.''
Martha Stewart Living Omnimedia Inc. (MSO US) gained 75 cents, or 4.4 percent, to $17.63. The producer of magazines and television shows and KB Home (KBH US), the fifth-largest U.S. homebuilder, said in a statement that they agreed to construct a community of 97 homes in Los Angeles County. The one-and two- bedroom homes will be ``inspired'' by Stewart's homes in Maine and New York, the companies said. KB slid 68 cents to $45.31.
Nuvelo Inc. (NUVO US) rose 77 cents, or 25 percent, to $3.86. The drugmaker said in a statement it had been granted fast-track designation by the U.S. Food and Drug Administration for two drugs to treat colorectal cancer.
PDL BioPharma Inc. (PDLI US) rose 76 cents, or 3.7 percent, to $21.16. The drugmaker was recommended by CNBC host Jim Cramer on his ``Mad Money'' television program after shareholder Daniel Loeb of Third Point LCC asked the board to add four new directors of his choice. Loeb and his firm want to ``start extracting some real value from PDL BioPharma,'' Cramer said.
Regeneron Pharmaceuticals Inc. (REGN US) rose $2.85, or 15 percent, to $22. The biotechnology company will start advanced clinical tests of an experimental eye treatment with its partner Bayer AG, Germany's largest drugmaker, after a study showed it reduced retinal thickness.
Sonus Networks Inc. (SONS US) fell 38 cents, or 4.4 percent, to $8.20. The maker of software for Internet-based phone calling agreed to buy closely held Zynetix Ltd. for $13.2 million to add wireless technology. Sonus, in its first acquisition since 2001, will pay a combination of cash and stock for Zynetix and expects the deal to be complete by the second week of April, the company said today.
Take-Two Interactive Software Inc. (TTWO US) retreated $1.18, or 5.3 percent, to $21.08. The New York-based maker of the ``Grand Theft Auto'' video games, which is battling a dissident shareholder group for control of the board, said it hasn't found a buyer or other options to present to investors at the annual meeting in three days. The company is continuing discussions with the investor group, Take-Two said today in a statement.
Terra Industries Inc. (TRA US) fell 89 cents, or 5 percent, to $16.83. The largest U.S. producer of liquid-nitrogen fertilizer had its recommendation cut to ``sell'' from ``buy'' at Wall Street Access, as did rival CF Industries Holdings Inc. (CF US), which slid $2.54, or 6.2 percent, to $38.44. Wall Street Access analyst Charlie Rentschler said he lowered the ratings because a wet spring might prevent timely planting of corn, prompting U.S. farmers instead to sow soybeans, which do not require nitrogen fertilizer.
Vonage Holdings Corp. (VG US) fell 12 cents, or 3.6 percent, to $3.26. The Internet phone company was cut to ``sell'' from ``hold'' at Citigroup Investment Research on patent litigation concern. Analyst Michael Rollins also cut his estimate on the company's share price to $2.50 from $7. Citigroup was one of the investment banks that helped manage the company's initial public offering last year.
source:www.bloomberg.com
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