July 14 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 10:55 a.m. in New York.
Blue Nile Inc. (NILE:US) gained 8.5 percent to $41.25 and advanced 9.3 percent earlier, the most intraday since June 1. The Internet diamond retailer was upgraded to “buy” from “hold” at Citigroup Inc.
Central Pacific Financial Corp. (CPF:US) dropped 24 percent to $2.70 and slumped 26 percent earlier, the most intraday since August 1987. The Honolulu-based bank holding company said it expects to report a loss of at least $1.22 a share in the second quarter. Central Pacific also said it plans to offer $100 million of shares to strengthen capital.
CIT Group Inc. (CIT:US) rose the most in the Standard & Poor’s 500 Index, adding 6.7 percent to $1.44. The corporate lender said it’s in “active discussions” with regulators about a rescue. CIT has $1 billion of bonds maturing next month.
CoBiz Financial Inc. (COBZ:US) sank 14 percent to $5.05 and dropped 16 percent earlier, the most intraday since April 20. The Denver-based bank reported a loss of 72 cents a share in the second quarter and said it’s offering $45 million of shares.
Coventry Health Care Inc. (CVH:US) added 3.2 percent to $18.69 and climbed earlier to $19.38, the highest intraday price since June 25. The provider of medical benefit plans was upgraded to “neutral” from “underweight” by JPMorgan Chase & Co.
CSX Corp. (CSX:US) gained 4.9 percent to $34.12 and advanced 6.7 percent earlier, the most intraday since June 25. The third-biggest U.S. railroad said it earned 72 cents a share from continuing operations in the second quarter, topping the 62-cent average analyst estimate in a Bloomberg survey.
Dell Inc. (DELL:US) fell the most in the S&P 500, losing 7.5 percent to $12.05. The world’s second-biggest maker of personal computers said its profitability may suffer this quarter because it’s paying more for parts and won’t pass on those costs to customers.
Hi-Tech Pharmacal Co. (HITK:US) had the biggest rally in Russell 2000 Index, jumping 24 percent to $12.24. The maker of eye and ear medicines had adjusted profit of 43 cents a share in the fiscal fourth quarter. That’s more than double the 20-cent estimate by FTN Equity Capital Market Corp.
Health Net Inc. (HNT:US) sank 58 percent to $11.96 and Humana Inc. (HUM:US) fell 4.8 percent to $29.11. The health-care providers lost the bidding process for as much as $55.5 billion in contracts with the U.S. Defense Department.
Interactive Intelligence Inc. (ININ:US) advanced 17 percent to $15.30 and rallied 20 percent earlier, the most intraday since Jan. 31. The maker of communication software said second- quarter earnings excluding some items were at least 22 cents a share. That exceeded the average estimate of 13 cents from a Bloomberg survey of analysts.
Johnson & Johnson (JNJ:US) added 1.1 percent to $58.35. The world’s biggest health-care company posted second-quarter earnings, excluding some items, of $1.15 a share, beating the average estimate of analysts in a Bloomberg survey by 3.1 percent.
Masco Corp. (MAS:US) fell 2 percent to $8.40. The insulation installer was cut to “underweight” from “overweight” by JPMorgan Chase & Co., which cited Masco shares being “fairly expensive” and offering the “least upside” among its peers.
Noven Pharmaceuticals Inc. (NOVN:US) surged 22 percent to $16.46 and climbed earlier to $16.49, the highest intraday price since December 2007. The maker of drug-dispensing skin patches said Hisamitsu Pharmaceutical Co. offered to acquire Noven for $428 million, or $16.50 a share. The company also announced positive results from a phase 2 clinical study of its treatment for hot flashes.
Sequenom Inc. (SQNM:US) gained 6.5 percent to $3.94 and advanced earlier to $4.11, the highest intraday price since June 26. The maker of diagnostic testing for diseases said results from a study show that its screening method for HPV, an infection that can cause cervical cancer, may have caught as many as 15 percent of women in a study group that had previously been cleared.
Sinclair Broadcast Group Inc. (SBGI:US) slumped 36 percent to 94 cents and tumbled 42 percent earlier, the most since it went public in June 1995. The operator of television stations had its debt ratings lowered by Standard & Poor’s and Moody’s Investors Service.
Take-Two Interactive Software Inc. (TTWO:US) dropped 10 percent to $8.04 and slumped 11 percent earlier, the most intraday since March 11. The maker of the “Grand Theft Auto” video game reduced its forecast, saying it now expects to have a loss of at least 80 cents a share in fiscal 2009.
To contact the reporters on this story: Lu Wang in New York at lwang8@bloomberg.net