Darden, Genzyme, KeyCorp, Intel, Lululemon, United: U.S. Equity Movers

Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 1:45 p.m. in New York.

3Par Inc. (PAR US) declined 2.9 percent to $31.51. The data-storage provider said its board determined that Hewlett- Packard Co.’s (HPQ US) bid to acquire the company at $30 per share constitutes a “superior proposal” compared with an offer from Dell. The shares surged to as much as $32.58 on Aug. 27 on prospects of more bids.

Hewlett-Packard jumped 2.3 percent $38.87 after rising as much as 3.9 percent, the most intraday since July 7. The world’s largest personal-computer maker said its board approved an additional $10 billion for share repurchases.

Ceragon Networks Ltd. (CRNT US) rallied 9 percent to $8.48 after gaining as much as 11 percent, the most intraday since June 14. The maker of broadband wireless systems said it got an order from a “leading Indian operator.”

Cogent Inc. (COGT US) surged 23 percent to $10.93, the most intraday since February 2008. 3M Co. (MMM US) said it agreed to buy the maker of biometric devices for $10.50 a share. The deal is valued at about $943 million, or about $430 million net of cash, the companies said. 3M fell 1.2 percent to $80.

Darden Restaurants Inc. (DRI US) fell 1.7 percent to $41.78, the most intraday since Aug. 24. The owner of the Red Lobster and Olive Garden Chains was cut to “hold” from “buy” at Standpoint Research.

DG Fastchannel Inc. (DGIT US) plunged 34 percent to $16.26, the most intraday since June 2006. The operator of an electronic network linking advertising agencies with television and radio stations said third-quarter revenue won’t exceed $53 million, short of the average analyst estimate of $61.5 million, according to Bloomberg data.

Fossil Inc. (FOSL US) gained 5.3 percent to $48.43 after rising as much as 7.6 percent, the most intraday since Aug. 10. The watchmaker plans a $750 million share buyback program, equal to about 24 percent of outstanding shares, based on closing price Aug. 27.

Genzyme Corp. (GENZ US) climbed 3.7 percent to $70.12 and rose 4.2 percent earlier, the most intraday since July 29. Sanofi-Aventis SA (SNY US) made a public cash offer of $18.5 billion for the U.S. biotechnology company and said it would “consider all alternatives” to complete a deal after the U.S. company rejected the bid. Sanofi’s U.S. traded shares fell 0.5 percent to $28.79.

Intel Corp. (INTC US) lost 1.9 percent to $18.02 after falling 2.1 percent earlier, the most intraday since Aug. 19. The world’s largest chipmaker agreed to buy Infineon Technologies AG’s wireless unit for about $1.4 billion.

KeyCorp (KEY US) fell 3.2 percent to $7.34, the most intraday since Aug. 24. Collins Stewart Inc. reduced its 12- month price target to $9 from $10 for Ohio’s second-largest bank, citing “weak core profitability and dependence on reserve release.”

Lululemon Athletica Inc. (LULU US) fell 8.7 percent to $32.43 and lost as much as 9 percent earlier. The maker of athletic clothing was downgraded to “underperform” from “hold” at Jefferies Group Inc. with a 12-month price estimate of $30 a share.

MedCath Corp. (MDTH US) surged 6.8 percent to $8.13, the most intraday since July 30. The operator of cardiovascular-care hospitals sold its one-third ownership interest in Avera Heart Hospital of South Dakota to Avera McKennan.

Noble Energy Inc. (NBL US) rose 3.7 percent to $69.74 after climbing to $70.22, the highest intraday price since May 13. The oil and natural-gas producer was raised to “outperform” from “market perform” at BMO Capital Markets Ltd., which cited “the oil-prone resource potential of the Niobrara found in Colorado and parts of Wyoming now being aggressively exploited by Noble.”

QLogic Corp. (QLGC US) rose 1.9 percent to $15.09 after rallying 3.4 percent earlier, the most intraday since July 7. The supplier of chips and switches for corporate networks said its board authorized a program to repurchase up to an additional $200 million of the company’s outstanding common stock over a period of up to two years.

Skilled Healthcare Group Inc. (SKH US) dropped 11 percent to $2.48 after falling to $2.36, the lowest intraday price since Aug. 6. The operator of nursing and assisted-living homes said it will appeal a court order requiring it to comply with California’s minimum staffing requirements at its nursing homes. The company had failed to persuade a judge to declare a mistrial in the case.

Texas Instruments Inc. (TXN US) declined 3.2 percent to $23.37 and dropped as much as 3.7 percent earlier, the most intraday since July 20. The second-largest U.S. chipmaker was downgraded to “neutral” from “positive” at Susquehanna Financial Group, which cited “broad macro weakness.”

UAL Corp. (UAUA US) gained 2 percent to $20.86 after rallying as much as 5.4 percent earlier, the most intraday since July 26. The U.S. government cleared the merger to create the world’s largest carrier between the owner of United Airlines and Continental Airlines Inc. (CAL US). The $3 billion all-stock deal awaits shareholder approval next month. Continental advanced 1.2 percent to $22.06.

AMR Corp. (AMR US) climbed 2.6 percent to $6.20 after surging as much as 6.8 percent earlier, the most intraday since June 2. Emirates Airline President Tim Clark denied speculation his company may buy a stake in the owner of American Airlines.