By Kate Gibson and Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) — Shares of the following companies made notable moves in Tuesday’s U.S. stock market:
Advancers
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Crown Crafts Inc.’s /zigman2/quotes/202621768/composite CRWS -1.60% shares rallied 23% to close at $5.35 after the supplier of infant accessories late Monday said its board approved a doubling of its quarterly dividend to 8 cents a share.
Ista Pharmaceuticals Inc.’s shares gained 7.9% a day after Bausch + Lomb said it would buy the drug developer for about $500 million in cash. Read more about the acquisition.
Shares of Lennar Corp. /zigman2/quotes/202536373/composite LEN +0.10% rose 4.7% after touching a 52-week high of $28.28. The home builder reported Tuesday that its new home orders shot up 33% for its fiscal first quarter and its CEO Stuart Miller said in a statement that the home-building market is stabilizing. Shares of other home builders also rallied, with PulteGroup /zigman2/quotes/201694804/composite PHM -0.62% up nearly 4%. Read more on the home-builder rally.
Molycorp Inc. shares climbed 8.3%. News reports said a significant jump in 2011 earnings for Chinese rare-earth producer Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. /zigman2/quotes/201229869/delayed CN:600111 +5.56% fueled a broad rally among rare-earth stocks.
Wabash National Corp. /zigman2/quotes/201427644/composite WNC -8.66% rose 9.5% after the truck-trailer manufacturer said it would pay $360 million to buy Walker Group Holdings LLC, a maker of liquid-transportation systems.
Wave Systems Corp. shares gained 18% after the provider of online-security products for businesses said it had been awarded a contract from the U.S. Army.
Decliners
Shares of Apollo Group Inc. dropped 8.5% after Credit Suisse cut its recommendation on the company’s stock to neutral from outperform. The move followed the release late Monday of the for-profit educator’s fiscal second-quarter results. Read about Apollo Group’s results.
Harry Winston Diamond Corp. shares fell 5.3%. Rio Tinto PLC /zigman2/quotes/202627887/composite RIO 0.00% is considering exiting its diamond operations and is exploring a range of options for the possible sale of those assets, which includes a 60% stake in Canada’s Diavik diamond mine. Harry Winston Diamond Corp. owns the remaining 40% of Diavik.
MAP Pharmaceuticals Inc.’s shares declined 4.1% after the company late Monday said the U.S. Food and Drug Administration had rejected its orally inhaled migraine treatment. Read more on MAP.
Shares of McMoRan Exploration Co. sank 7.5% after the company said it has not yet completed its Davy Jones No. 1 well in the Gulf of Mexico because of a malfunction in hydraulic equipment.
Total SA’s /zigman2/quotes/201824152/composite TOT -1.67% /zigman2/quotes/206172043/delayed FR:FP +1.47% U.S.-listed shares fell 7.1% as industry and government officials reviewed options for contending with an underwater gas leak from one of the company’s platforms east of Scotland. Read more on Total SA.
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