HEADLINE STOCKS-Some U.S. stocks on the move on March 6

(Updates to after the open)

NEW YORK, March 6 (Reuters) - Some U.S. stocks on the move
on Friday:

WELLS FARGO
The bank cut its quarterly dividend by 85.3 percent to 5
cents, saying the move would let it retain an additional $5
billion in common equity each year. [nN06381180]
The stock rose 15 percent to $9.33 in premarket trade.

H&R BLOCK
The tax preparation company reported third-quarter earnings
that beat expectations, as it charged more for tax services
going into the tax filing season. Revenue rose 11 percent. It
also said it cut its debt load by $2.5 billion.
[nN06376122]
Shares of the company rose 9.6 percent to $18.82.

ANN TAYLOR STORES
The retailer reported a fourth-quarter loss and a decline
of 24.5 percent in quarterly same-store sales. It also said it
would be closing more stores than originally expected and that
sales would continue to be under significant pressure this
year. [nWNAB1270]
Shares of Ann Taylor tumbled 18 percent to $4.56 in
premarket trade.

COCA-COLA
The soft drink company on Friday said it would invest $2
billion in new plant and distribution infrastructure in China
over the next three years. It will also speed up development to
ensure products suit local tastes. The investment is in
addition to the $2.4 billion Coke has already committed to a
takeover bid for Huiyuan Juice Group. [nHKG181914]
Shares of Coke, a Dow component, rose 3.3 percent to
$39.08.

AMERICAN INTERNATIONAL GROUP
Santander, Spain's largest bank, is among potential buyers
for AIG's Polish banking arm, according to a Polish daily,
which cited unnamed sources and said analysts valued the deal
at up to $270 million. PKO BP, Poland's top bank, has also
expressed interest in AIG's banking assets. [nL624187]
Shares of AIG fell 2.9 percent to 34 cents.

MORNINGSTAR
Investment research firm Morningstar on Friday said it may
use part of its cash holdings to make acquisitions, with an eye
on overseas assets as it looks to build a business that is less
dependent on the U.S. economy.
The company has about $300 million in cash holdings.
Morningstar said it was also open to using the holdings to
pay dividends or repurchase shares, though acquisitions were
its priority. [nBOM490766]
Shares of Morningstar rose 1.1 percent to $28.39.

SMITH MICRO SOFTWARE INC
The wireless communication software developer posted
better-than-expected quarterly profit, helped by higher gross
margin.
Shares of the company rose 10.5 percent to $4.20.

INSULET CORP
The medical device maker posted a wider quarterly loss,
hurt by a restructuring charge and higher expenses, and it
forecast 2009 revenue below market estimates. [nBNG474792]
Shares of the company tumbled 31.3 percent to $3.51.

FUEL SYSTEMS SOLUTIONS INC
The maker of alternative fuel components posted lower
quarterly earnings and forecast weak revenue for 2009.
[nBNG479943]
Shares of the company plummeted 26 percent to $14.10.

FAIRPOINT COMMUNICATIONS INC
The company suspended its quarterly dividend and said its
transition to a new billing platform could hurt liquidity in
the first half of 2009. [nBNG481579]
FairPoint shares dropped 24 percent to $1.21.

ARCSIGHT INC
The provider of security and compliance management software
posted a quarterly profit that topped market estimates on
strong growth across all its businesses and it forecast
better-than-expected fourth-quarter revenue. [nBNG450369]
Shares of the company surged 27 percent to $11.18.
(Reporting by Ryan Vlastelica; Editing by James Dalgleish)
((ryan.vlastelica@thomsonreuters.com; Tel: +1 646-223-6014;
Reuters Messaging: ryan.vlastelica@reuters.com@reuters.net))
Keywords: MARKETS STOCKS HEADLINES

Keywords: MARKETS STOCKS HEADLINES

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