AIG, Jo-Ann Stores, Toll Brothers, Wyeth: U.S. Equity

By Whitney Kisling

Aug. 27 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses and share prices are as of 8:10 a.m. New York time.

Alkermes Inc. (ALKS US) plunged 13 percent to $9. The developer of an inhaled insulin said Ortho-McNeil-Janssen Pharmaceuticals Inc. and Janssen Pharmaceutica International decided not to pursue further development of the four-week long- acting injectable formulation of risperidone.

American International Group Inc. (AIG US) surged 12 percent to $42.09. The insurer bailed out by the U.S. rose on speculation it may benefit from improved relations with former Chief Executive Officer Maurice “Hank” Greenberg, who led the company for almost four decades.

Guess? Inc. (GES US) added 3.5 percent to $33.28. The clothing maker reported second-quarter profit of 64 cents a share, topping the average analyst estimate by 47 percent.

Jo-Ann Stores Inc. (JAS US) climbed 6 percent to $27.19. The largest U.S. fabric retailer boosted its full-year forecast after reporting a narrower loss in the second quarter than analysts expected.

Northrop Grumman Corp. (NOC US) added 2 percent to $49.90. The third-largest U.S. defense company won a $3.44 billion contract from the U.S. Air Force to support the B-2 weapon system and a $2.43 billon Navy contract for work on the U.S.S. Theodore Roosevelt, the Pentagon said.

Precision Castparts Corp. (PCP US): The maker of metal forgings for jet engines agreed to buy Carlton Forge Works and another manufacturing plant for $850 million to gain seamless rolled rings used in aircraft engines and gas turbines.

Sigma Designs Inc. (SIGM US) fell 11 percent to $15.25. The maker of chips for Internet television set-top boxes and Blu-ray video players reported second-quarter profit that was in line with analysts’ estimates.

Toll Brothers Inc. (TOL US) declined 2.3 percent to $22.60. The largest U.S. builder of luxury homes posted a wider quarterly loss, which was also bigger than analysts’ estimates.

Wyeth (WYE US) added 2 percent to $48.98. The drugmaker set to be acquired by Pfizer Inc. won final approval to sell the Torisel medicine in Europe for patients with relapsed and refractory mantle cell lymphoma.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net.