Apollo Group Inc. (APOL) fell 6.3 percent to $40.50. The biggest U.S. for-profit college company was cut to neutral from outperform at Credit Suisse Group AG.
Buffalo Wild Wings Inc. (BWLD) decreased 2.4 percent to $92.11. The operator of about 800 namesake restaurants was cut to hold from buy at Deutsche Bank AG, which said the stock is less likely to beat expectations after its valuation rose.
Hatteras Financial Corp. (HTS) declined 2.6 percent to $27.32. The real estate investment trust that invests in mortgage securities issued or guaranteed by U.S. government sponsored entities will sell 15 million shares in a public offering.
Landec Corp. (LNDC) : The maker of packaged food products reported third-quarter earnings were 18 cents a share, surpassing the average analyst estimate by 5 cents.
Lennar Corp. (LEN) increased 3.9 percent to $27.44. The third-largest U.S. homebuilder by revenue reported first-quarter earnings excluding some items of 8 cents a share, beating the average analyst estimate of 5 cents.
Map Pharmaceuticals Inc. (MAPP) plunged 22 percent to $13.45. The biopharmaceutical company failed to win U.S. regulatory approval to sell its inhalable version of a 60-year- old migraine drug after regulators questioned the manufacturing process.
Neurocrine Biosciences Inc. (NBIX) : The San Diego-based drugmaker said results from a phase II trial of NBI-98854 in tardive dyskinesia patients didn’t meet the primary endpoint when data was included from a site where efficacy assessment protocol wasn’t followed. With that site removed, the results shows a “significant” reduction in symptoms, the company said.
Opnext Inc. (OPXT) surged 54 percent to $1.74. The maker of optical components for communications networks will be purchased by Oclaro Inc. (OCLR) in an all-stock deal. Holders of Fremont, California-based Opnext will get 0.42 shares of Oclaro stock, or about $1.96, for every Opnext share they own.
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