Sentiment among U.S. builders hit a five-year high, giving home builder stocks a strong boost. Home builders rallied, including KB Home (KBH), Lennar Corp. (LEN) and Hovnanian Enterprises (HOV).
Shares of the following companies may have unusual moves in U.S. trading tomorrow. Stock symbols are in parentheses, and prices are as of 4:45 p.m. in New York.
Standard & Poor’s 500 Index futures expiring in June rose 0.1 percent to 1,329.80.
Arena Pharmaceuticals Inc. (ARNA) slid 5.9 percent to $5.70. The San Diego-based drugmaker said it will sell shares in a public offering. It didn’t specifying the size of the deal.
J.C. Penney Co. (JCP) tumbled 11 percent to $29.78. The fourth-largest U.S. department-store company reported a first- quarter loss and said it will discontinue its quarterly dividend after sales fell more than anticipated.
Medallion Financial Corp. (TAXI) : The company that originates loans for taxicab medallion purchases said it will sell 3.5 million shares in a public offering. Proceeds will be used to make loans and investments in portfolio companies and for general corporate purposes including repaying debt.
TriQuint Semiconductor Inc. (TQNT) advanced 4.3 percent to $5.35. The Hillsboro, Oregon-based chipmaker settled all outstanding claims with Avago Technologies Ltd. (AVGO) , agreeing to enter into a patent cross licenses and dismiss all related litigation.
Tumi Holdings Inc. (TUMI) climbed 1.4 percent to $21.80. The luggage maker forecast earnings in 2012 will be as much as 67 cents a share on no more than $390 million on sales.
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