Arthrocare Corp. (ARTC US) fell the most in the Russell 2000 Index, dropping 23 percent to $23.56. The surgical-tool maker reported fourth-quarter sales that missed analysts' estimates. Jefferies Group Inc. cut the stock's rating to hold from buy.
Cell Therapeutics Inc. (CTIC US) surged 35 percent to $1.50 for the biggest increase in the Russell 2000 Index. The European Medicines Agency recommended conditional approval of the company's Pixuvri treatment for the cancer non-Hodgkin's B-cell lymphoma.
Cott Corp. (COT US) fell 9.4 percent to $6.18 after sinking 11 percent, the most intraday since May 2010. The provider of store-brand soft drinks reported fourth-quarter revenue of $549.2 million, missing the average analyst estimate of $557.8 in a Bloomberg survey.
First Solar Inc. (FSLR US) rose 10 percent to $43.87 for the biggest gain in the Standard & Poor's 500 Index. The biggest maker of thin-film solar panels resolved a permitting issue with Los Angeles County for a $1.36 billion power project under construction, paving the way for financing to resume.
General Mills Inc. (GIS US) had the second-biggest loss in the S&P 500, falling 3.2 percent to $38.52. The maker of Cheerios and Green Giant frozen vegetables cut its full-year earnings forecast to $2.55 per share at most after previously seeing as much as $2.61. The projection misses the average analyst estimate of $2.60.
Gilead Sciences Inc. (GILD US) dropped 14 percent, the most in the S&P 500, to $47.02. The Foster City, California-based biopharmaceutical company said six out of eight participants in a study using its experimental hepatitis C drug showed “viral relapse” within four weeks after stopping a 12-week treatment plan.
Rivals rallied. Vertex Pharmaceuticals Inc. (VRTX US) rose 7.2 percent to $40.17. Achillion Pharmaceuticals Inc. (ACHN US) jumped 22 percent to $10.69. Idenix Pharmaceuticals Inc. (IDIX US) climbed 5.3 percent to $12.07.
H.J. Heinz Co. (HNZ US) rose 4 percent to $54.18 after advancing 4.6 percent, the most since September 2009. The world's biggest ketchup maker reported third-quarter adjusted earnings of 95 cents per share, beating the average estimate of 85 cents per share. Third-quarter sales of $2.92 billion also beat the average estimate of $2.89 billion.
Leap Wireless International Inc. (LEAP US) dropped 5.4 percent to $9.10 after erasing as much as 5.8 percent, the most intraday since Jan. 26. The pay-as-you-go wireless carrier reported a smaller quarterly loss than analysts predicted as smartphone sales increased and subscribers added the company's Muve Music streaming service.
Magnum Hunter Resources Corp. (MHR US) rose 3.3 percent to $7.17 and reached $7.45, the highest intraday level since Aug. 1. The oil and natural gas explorer said its Triad Hunter LLC subsidiary purchased mineral interests on 15,558 acres of land in the so-called “Utica Acreage” of Ohio for $25 million, according to a release.
Maxwell Technologies Inc. (MXWL US) fell 6.8 percent to $19.61 and slid as much as 9.4 percent, the most intraday since May 2010. The maker of electronic components declined as Robert W Baird & Co. shifted the company to “neutral” from “outperform,” based on lower-than-expected fourth-quarter revenue.
RealPage Inc. (RP US) slumped 16 percent to $20.22 after sinking 24 percent earlier, the most intraday since it went public in August 2010. The provider of rental-property management software forecast first-quarter profit excluding some items of 10 cents a share, trailing the 11-cent average analyst estimate in a Bloomberg survey.
SunPower Corp. (SPWR US) rose 22 percent, the most intraday since April 29, to $9.14. The solar panel company majority-owned by Total SA reported better-than-estimated fourth-quarter earnings and said 2012 sales will be in line with previous forecast.
Web.com Group Inc. (WWWW US) gained 5.4 percent to $14.05 after jumping to $14.90, the highest intraday price since May 3. The company that builds websites for small businesses said earnings in the fourth quarter were 28 cents a share, excluding some items, surpassing the average analyst estimate of 26 cents.
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