Abovenet Inc. (ABVT US) surged 13 percent to $84.10 after climbing to $84.54 earlier, the highest intraday price since at least 2003. The operator of fiber-optic networks agreed to be bought by Zayo Group LLC for $2.2 billion, or $84 a share.
Ampio Pharmaceuticals Inc. (AMPE US) rallied 39 percent, the most in the Russell 2000 Index, to $3.73. The drug company announced "positive" results from a clinical study of Optin, a treatment for diabetic macular edema, and said it will request a meeting with Food and Drug Administration.
Citigroup Inc. (C US) rose 3.3 percent to $37.92, the highest intraday price since Aug. 2. The third-largest U.S. bank sold its 2.71 percent stake in Shanghai Pudong Development Bank to institutional investors, generating after- tax proceeds of about $349 million.
Domino's Pizza Inc. (DPZ US) rose 4.5 percent to $41.74 and advanced to $42.21 earlier, the highest intraday price since it went public in July 2004. The pizza-delivery chain completed its recapitalization and declared a special dividend of $3 a share.
DreamWorks Animation SKG Inc. (DWA US) added 2.6 percent to $18.77 and reached $19.17 earlier, the highest intraday price since Feb. 28. The maker of the "Kung Fu Panda" films was raised to overweight from neutral at Piper Jaffray Cos., meaning the stock will beat its peers over the next 12 months.
Express Scripts Inc. (ESRX US) dropped 1.2 percent to $53.69, and fell as much as 1.8 percent intraday, the most since March 12. The drugs-benefits manager's bid to acquire Medco Health Solutions Inc. and create the largest U.S. pharmacy- benefits manager may be delayed by a lawsuit being considered by five states.
Gap Inc. (GPS US) rose 2.5 percent to $26.03 after reaching $26.10 earlier, the highest intraday price since April 2010. The largest U.S. apparel chain was raised to outperform from market perform by BMO Capital Markets, citing a "meaningful improvement" to spring products and potential for global expansion. The rating means the stock is forecast to beat the market.
Morgan Stanley (MS US) rallied 2 percent to $19.92, the highest intraday price since Feb. 13. The owner of the world's largest brokerage is planning its first corporate bond sale since October after the cost to protect its bonds from default dropped by almost 50 percent in the past four months.
Sprint Nextel Corp. (S US) declined 3.8 percent to $2.78 for the biggest retreat in the Standard & Poor's 500 Index. The third-largest U.S. wireless carrier was downgraded by Sanford C. Bernstein amid concern the company won't sell enough iPhones to afford its "punishing" commitment with Apple Inc..
United Parcel Service Inc. (UPS US) increased 2.9 percent to $80.67 and climbed to $80.75 earlier, the highest intraday price since July 2006. The world's largest package-delivery company raised its offer for TNT Express NV by 5.6 percent to 5.16 billion euros ($6.8 billion).
U.S. Steel Corp. (X US) rose the most in the S&P 500, gaining 5.7 percent to $31.45. The country's largest producer of the metal by volume should benefit from a recovery in steel prices, UBS AG said in a note.
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