HEADLINE STOCKS-U.S. stocks on the move on June 2
(Updates to afternoon trade, adds Navarre, Express Scripts, Modine, Daktronics, Domtar and Clinical Data)
NEW YORK, June 2 (Reuters) - Some U.S. stocks on the move on Tuesday:
JPMORGAN CHASE & CO (JPM.N)
AMERICAN EXPRESS CO (AXP.N)
MORGAN STANLEY (MS.N)
All three companies announced plans to sell stock in order to repay TARP funds. JPMorgan will sell $5 billion while AmEx will sell $500 million, and Morgan Stanley will sell $2.2 billion of common equity in order to satisfy a . [ID:nN02502975]
In its offering, JPMorgan priced 142 million shares at $35.25 each, a source said. [ID:nWEN9892]
JPMorgan shares fell 3.4 percent to $34.90 while AmEx was down 5.2 percent to $24.64. Both companies are Dow components.
Morgan Stanley shares fell 1.8 percent to $29.34.
CAMERON INTERNATIONAL (CAM.N)
NATCO GROUP NTG.N
Oilfield services company Cameron late Monday said it would buy NATCO in an all-stock deal that values NATCO for $780 million. [ID:nN0121780]
Shares of NATCO rose 16 percent to $35.89 while Cameron fell 5 percent to $30.83.
PEPSI BOTTLING GROUP (PBG.N)
The company raised its second-quarter and full-year outlook, seeing favorable trends in the soft drink sector. [ID:nBNG486823]
Shares rose 3.4 percent to $34.35.
WALGREEN CO (WAG.N)
The drug store chain reported an increase of 1 percent in its May same-store sales. [ID:nN02499090]
Shares rose 1.2 percent to $31.52.
SUNTRUST BANKS INC (STI.N)
The bank speeded up a previously announced capital-raising plan, hoping to benefit from recent investor demand for banks' securities. [ID:nN01449572]
Shares rose 10 percent to $15.24.
CLINICAL DATA INC (CLDA.O)
The pharmaceutical company said its experimental drug to treat major depressive disorder, vilazodone, met the main goal in a second late-stage study. [ID:nBNG13287]
Shares rose 3.4 percent to $14.48.
GLAXOSMITHKLINE (GSK.N)
U.S.-listed shares of the pharmaceutical company fell 0.4 percent to $34.06 after it signed a potential $1 billion deal with privately held U.S. biotech company Concert Pharmaceuticals to access deuterium-containing medicines. Deuterium improves the metabolic properties of medicines, making them more effective. [ID:nL2533041]
EBAY INC (EBAY.O)
The online auction site extended its tender offer for all outstanding shares and American depositary shares of Gmarket GMKT.O to permit distribution of additional financial information. The offer will now expire at midnight on June 12. [ID:nWNAB5549]
Shares fell 1.9 percent to $17.90.
DOMTAR CORP (UFS.N)
Shares of the forestry firm rose 5.3 percent to $1.38 after Credit Suisse upgraded it to "outperform," saying the company's reverse stock split eliminated delisting concerns and lessened liquidity risk. [ID:nBNG492150]
DAKTRONICS INC (DAKT.O)
The electronic scoreboards supplier reported a drop of 94 percent in its fourth-quarter profit, more than had been expected. [ID:nBNG491716]
Shares sank 14 percent to $7.95.
MODINE MANUFACTURING CO (MOD.N)
The maker of vehicle heating and cooling systems reported a wider fourth-quarter loss, and said it expects the global recession to adversely impact its sales volumes in fiscal 2010. [ID:nBNG489264]
Shares sank 18 percent to $4.28.
NAVARRE CORP (NAVR.O)
Shares soared 36 percent to $1.22 a day after the entertainment products provider reported fourth-quarter earnings that were sharply higher from the prior year. [ID:nBNG492478]
EXPRESS SCRIPTS INC (ESRX.O)
The company launched a public offering of 23 million shares
on Tuesday to raise money to finance its acquisition of
WellPoint Inc's (WLP.N) drug benefits unit. [ID:nN02496852]
Shares slipped 0.4 percent to $64.19.
HILAND PARTNERS LP (HLND.O)
HILAND HOLDINGS GP LP (HPGP.O)
Both companies have separately agreed to be acquired by affiliates of Harold Hamm in an all-cash deal that will take them private. [ID:nWNAB5350]
Shares of Hiland Partners jumped 29 percent to $7.42, while those of Hiland Holdings rose 23.5 percent to $2.31.
© Thomson Reuters 2009 All rights reserved

