Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 9:40 a.m. in New York.
Airgas Inc. (ARG US) advanced 2.6 percent to $69.62. The industrial-gas distributor plans to appeal a court ruling that would allow its next annual meeting to be held in January. Airgas is fighting a $5.5 billion takeover bid by Air Products & Chemicals Inc. (APD US), which may use the ruling to take control of Airgas at the January meeting.
Allos Therapeutics Inc. (ALTH US) fell 3.5 percent to $4.41. The drugmaker’s lymphoma drug Folotyn appeared at least as effective as Roche Holding AG’s (ROG VX) Tarceva for lung cancer, and may help patients live longer, a clinical trial showed.
Ansys Inc. (ANSS US) rose 1.8 percent to $42.37: The software developer was raised to “buy” from “hold” at Soleil Securities Corp. by equity analyst Elliott Leo Schlang. The 12- month price estimate is $50.
BlackRock Inc. (BLK US) increased 1.3 percent to $176.74. The world’s largest asset-management firm’s Taiwan unit expects assets under management to grow 10 percent a year for the next four years, according to Chang Lin-yun, head of the unit.
The firm aims to start an Asian fixed income fund next year, and plans to sell an international equity fund in the first quarter of next year, Chang said.
Brinker International Inc. (EAT US) rose 1.4 percent to $19.31. The restaurant operator may climb to $24 a share during the next year as its Chili’s restaurants upgrade their kitchens and menu, which can boost the chain’s margins, Barron’s reported, citing Howard Penney, an analyst at Hedgeye Risk Management.
Chesapeake Energy Corp. (CHK US) advanced 3.9 percent to $23.94. Cnooc Ltd. (883 HK) will pay $1.08 billion for a one- third stake in the second-biggest producer of U.S. natural gas’s Eagle Ford shale project in Texas, in the largest acquisition of a U.S. oil and gas asset by a Chinese company.
CIT Group Inc. (CIT US) rose 1.9 percent to $41.56. The commercial lender may rise 15 percent or more during the next year as it turns profitable on operational basis, and the firm may be a target for a “capital-starved” bank, Barron’s reported.
Costco Wholesale Corp. (COST US) slipped 1.1 percent to $63.60. The largest U.S. warehouse-club chain was cut to “underperform” from “ market perform” at BMO Capital Markets Ltd.
DineEquity Inc. (DIN US) rose 1.7 percent to $47.51. The restaurant company said it will sell 20 of its Applebee’s Neighborhood Grill & Bar restaurants located in the Roanoke and Lynchburg markets of Virginia to Apple Investors Group LLC.
ImmunoGen Inc. (IMGN US) rose 6.4 percent to $7.56. The maker of anticancer drugs said Novartis AG will pay it a $45 million fee for exclusive rights to its technology that uses antibodies to deliver cancer drugs against specific tumor types. ImmunoGen may receive more than $200 million for each cancer drug that results from the agreement, the company said in a statement.
J.C. Penney Co. (JCP US) gained 1.2 percent to $32.88. Vornado Realty Trust (VNO US) said it acquired about 9.9 percent of the stock in the third-biggest U.S. department store chain.
Regal Cinemas Corp. (RGC US) rose 1.9 percent to $14.05, and Cinemark Holdings Inc. (CNK US) gained 0.8 percent to $17.28. The movie theater operators are “cheap” on a free-cash flow basis, Barron’s said, citing Barclays Capital analyst Anthony DiClemente.
Sherwin-Williams Co. (SHW US) fell 1.7 percent to $17.21. The largest U.S. paint retailer was cut to “equalweight” from “overweight” at Stephens Group Inc. The price estimate was cut to $78 from $80.
SuccessFactors Inc. (SFSF US) slipped 1 percent to $24.50. The maker of Internet-based human resources software may fall if stronger competition slows growth, Barron’s reported, citing analysts.
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Airgas Inc. (ARG US) advanced 2.6 percent to $69.62. The industrial-gas distributor plans to appeal a court ruling that would allow its next annual meeting to be held in January. Airgas is fighting a $5.5 billion takeover bid by Air Products & Chemicals Inc. (APD US), which may use the ruling to take control of Airgas at the January meeting.
Allos Therapeutics Inc. (ALTH US) fell 3.5 percent to $4.41. The drugmaker’s lymphoma drug Folotyn appeared at least as effective as Roche Holding AG’s (ROG VX) Tarceva for lung cancer, and may help patients live longer, a clinical trial showed.
Ansys Inc. (ANSS US) rose 1.8 percent to $42.37: The software developer was raised to “buy” from “hold” at Soleil Securities Corp. by equity analyst Elliott Leo Schlang. The 12- month price estimate is $50.
BlackRock Inc. (BLK US) increased 1.3 percent to $176.74. The world’s largest asset-management firm’s Taiwan unit expects assets under management to grow 10 percent a year for the next four years, according to Chang Lin-yun, head of the unit.
The firm aims to start an Asian fixed income fund next year, and plans to sell an international equity fund in the first quarter of next year, Chang said.
Brinker International Inc. (EAT US) rose 1.4 percent to $19.31. The restaurant operator may climb to $24 a share during the next year as its Chili’s restaurants upgrade their kitchens and menu, which can boost the chain’s margins, Barron’s reported, citing Howard Penney, an analyst at Hedgeye Risk Management.
Chesapeake Energy Corp. (CHK US) advanced 3.9 percent to $23.94. Cnooc Ltd. (883 HK) will pay $1.08 billion for a one- third stake in the second-biggest producer of U.S. natural gas’s Eagle Ford shale project in Texas, in the largest acquisition of a U.S. oil and gas asset by a Chinese company.
CIT Group Inc. (CIT US) rose 1.9 percent to $41.56. The commercial lender may rise 15 percent or more during the next year as it turns profitable on operational basis, and the firm may be a target for a “capital-starved” bank, Barron’s reported.
Costco Wholesale Corp. (COST US) slipped 1.1 percent to $63.60. The largest U.S. warehouse-club chain was cut to “underperform” from “ market perform” at BMO Capital Markets Ltd.
DineEquity Inc. (DIN US) rose 1.7 percent to $47.51. The restaurant company said it will sell 20 of its Applebee’s Neighborhood Grill & Bar restaurants located in the Roanoke and Lynchburg markets of Virginia to Apple Investors Group LLC.
ImmunoGen Inc. (IMGN US) rose 6.4 percent to $7.56. The maker of anticancer drugs said Novartis AG will pay it a $45 million fee for exclusive rights to its technology that uses antibodies to deliver cancer drugs against specific tumor types. ImmunoGen may receive more than $200 million for each cancer drug that results from the agreement, the company said in a statement.
J.C. Penney Co. (JCP US) gained 1.2 percent to $32.88. Vornado Realty Trust (VNO US) said it acquired about 9.9 percent of the stock in the third-biggest U.S. department store chain.
Regal Cinemas Corp. (RGC US) rose 1.9 percent to $14.05, and Cinemark Holdings Inc. (CNK US) gained 0.8 percent to $17.28. The movie theater operators are “cheap” on a free-cash flow basis, Barron’s said, citing Barclays Capital analyst Anthony DiClemente.
Sherwin-Williams Co. (SHW US) fell 1.7 percent to $17.21. The largest U.S. paint retailer was cut to “equalweight” from “overweight” at Stephens Group Inc. The price estimate was cut to $78 from $80.
SuccessFactors Inc. (SFSF US) slipped 1 percent to $24.50. The maker of Internet-based human resources software may fall if stronger competition slows growth, Barron’s reported, citing analysts.
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