HEADLINE STOCKS-U.S. stocks on the move on May 4
(Updates to afternoon trade, adds DSP, Liberty Media/ DirecTV, Emulex/ Broadcom. Updates Bank of America)
NEW YORK, May 4 (Reuters) - Some U.S. stocks on the move on Monday:
BANK OF AMERICA CORP (BAC.N)
The company said it didn't have plans to raise $10 billion in common equity, denying a story in the Financial Times. [ID:nN04385550]
Shares of the Dow component rose 6.7 percent to $9.28.
GENERAL MOTORS (GM.N)
Shares of the auto company rose 1.7 percent to $1.84 after it said it had a number of potential buyers for its Saturn brand and that it would look to secure an agreement with a specific buyer this year. [ID:nN04385572]
CITIGROUP (C.N)
Shares rose 4.7 percent to $3.11 after Bloomberg reported that the bank was looking to raise any additional capital it might need from private investors rather than give more control to the government. [ID:nN04263467]
ACADIA PHARMACEUTICALS INC (ACAD.O)
BIOVAIL CORP (BVF.N)
Shares of Acadia soared 140 percent to $2.40 after it entered into a pact with a unit of Biovail to co-develop and commercialize its experimental drug to treat Parkinson's disease psychosis. [ID:nBNG489486]
U.S.-listed shares of Biovail rose 2.6 percent to $11.43.
SPRINT-NEXTEL CORP (S.N)
Shares of the company rose 12 percent to $5.21 after it reported adjusted first-quarter earnings that beat expectations. [ID:nN04347173]
LOEWS CORP (L.N)
CNA FINANCIAL CORP (CNA.N)
Conglomerate Loews reported a first-quarter loss, hurt by charges related to its natural gas unit and investment losses at CNA Financial. [ID:nN04514216].
CNA also reported its quarterly results on Monday. [ID:nN04512937]
Shares of Loews rose 4.3 percent to $26.28 while CNA shares gained 7.9 percent to $12.87.
ESTEE LAUDER COS INC (EL.N)
The cosmetics company reported first-quarter earnings that beat expectations. [ID:nN04324031]
Shares gained 14.7 percent to $35.72.
TYSON FOODS INC (TSN.N)
The food company reported a second-quarter loss and said it was "too soon to predict the impact of the H1N1 outbreak." [ID:nN04371340]
Shares of the company jumped 9.1 percent to $11.52.
SYSCO CORP (SYY.N)
The company reported its third-quarter results and gave an outlook for its 2009 capital expenditures. [ID:nBNG491302]
The stock slid 5.7 percent to $22.96.
PEPSI BOTTLING GROUP INC (PBG.N)
PEPSICO (PEP.N)
Pepsi Bottling on Monday rejected a buyout proposal from PepsiCo, calling it "grossly inadequate." [ID:nBNG488058]
Shares of Pepsi Bottling fell 0.4 percent to $31.28 while PepsiCo shares slid 1.4 percent to $49.08.
LIBERTY MEDIA CORP (LINTA.O)
DIRECT GROUP INC (DTV.O)
Liberty plans to split off the DirecTV satellite TV operator into a separate company combined with other media assets. [ID:nN04385835]
Shares of Liberty rose 4.9 percent to $5.80 while DirecTV slid 4.1 percent to $23.56.
EMULEX CORP (ELX.N)
BROADCOM CORP (BRCM.O)
Emulex rejected an unsolicited buyout offer from Broadcom, saying it was an opportunistic move that undervalued the company. [ID:nN04338030]
Shares of Emulex rose 2.9 percent to $10.67 while Broadcom was up 2.4 percent to $23.61.
HEWLETT-PACKARD CO (HPQ.N)
RESEARCH IN MOTION LTD (RIMM.O)
The two companies said they had formed a pact to provide services for RIM's BlackBerry smart phone product. [ID:nBNG178360]
Shares of Hewlett-Packard, a Dow component, rose 1.7 percent to $37.15 while shares of RIM gained 3.9 percent to $75.10.
WALGREEN CO (WAG.N)
The drug store reported an increase of 3.7 percent in its April same-store sales. [ID:nWNAB2493]
Shares slid 0.3 percent to $31.44.
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