HEADLINE STOCKS-U.S. stocks on the move on June 5
(Updates to afternoon trade, adds Wal-Mart, Bank of America, American Woodmark, Harley-Davidson, Xtent, MarkWest, Kenexa, AK Steel and Jackson Hewitt)
NEW YORK, June 5 (Reuters) - Some U.S. stocks on the move on Friday:
WAL-MART STORES INC (WMT.N)
The discount retailer announced a new $15 billion share repurchase plan and said market share gains it has made amid the recession are permanent as a "new normal" emerges in which consumers seek to save money. [ID:nN05274546]
Shares of the Dow component rose 0.4 percent to $51.08.
APPLE INC (AAPL.O)
Steve Jobs, the chief executive of Apple, is on track to return to the company after a medical leave of absence, according to a report in the Wall Street Journal. [ID:nN04251941]
Shares of Apple rose 0.4 percent to $144.29.
JPMORGAN CHASE & CO (JPM.N)
AMERICAN EXPRESS CO (AXP.N)
U.S. regulators are insisting that JPMorgan and AmEx raise equity this week before they repay bailout funds, according to a report in the Financial Times, despite strong objections from the banks. [ID:nBNG439925]
Shares of JPMorgan fell 1.3 percent to $34.90 while AmEx slid 0.4 percent to $25.15. Both companies are Dow components.
AK STEEL HOLDING CORP (AKS.N)
Shares gained 7.5 percent to $17.73 a day after it added surcharges to some of its products amid signs that steel prices in general are rising. [ID:nN05288957]
JACKSON HEWITT TAX SERVICE INC (JTX.N)
Shares soared 41 percent to $6.06 a day after it named
Harry Buckley its chief executive officer and hired Goldman
Sachs to examine strategic alternatives. Buckley was previously
the head of H&R Block Inc (HRB.N). [ID:nBNG411468]
CITIGROUP INC (C.N)
The Federal Deposit Insurance Corp is aiming at a shake-up of Citigroup top management, including replacing Chief Executive Vikram Pandit, according to a report in the Wall Street Journal, which cited people familiar with the matter. [ID:nSP443945]
Shares of Citigroup slid 0.3 percent to $3.56.
BANK OF AMERICA CORP (BAC.N)
Kenneth Lewis, the chief executive officer of Bank of America, as been asked to testify before a congressional committee about when the bank became aware of deteriorating conditions late last year at Merrill Lynch & Co, which prompted a federal bailout.
Separately, the largest U.S. bank is balking at paying a "substantial" sum to the government to exit an agreement covering losses on troubled assets and believes it should pay nothing, the New York Times said on Friday, citing three people briefed on the talks. [ID:nN05274590]
Shares of the Dow component rose 0.6 percent to $11.94.
RIO TINTO PLC (RTP.N)
The mining company spurned $19.5 billion of funding from
China on Friday in favor of a cost-saving iron ore joint
venture with rival BHP Billiton (BLT.L) and a share sale to
slash its debts. [ID:nSYD73514]
U.S.-listed shares of Rio surged 6.2 percent to $194.02.
MERCK & CO INC (MRK.N)
The pharmaceutical company's experimental heart failure drug failed to meet the goals of a pivotal late-stage study. It also said it wouldn't file applications this year seeking regulatory approval for rolofylline. [ID:nN05273234]
Shares of the Dow component fell 1.5 percent to $26.19.
MARKWEST ENERGY PARTNERS LP (MWE.N)
The oil and gas processor's public offering of 2.9 million common units was priced at $18.15 per unit, a discount of 9 percent to the stock's closing price on Thursday. [ID:nBNG451254]
Shares fell 5.8 percent to $18.80.
KENEXA CORP (KNXA.O)
Shares of the software company rallied 7.8 percent to $13.60 after Cowen & Co upgraded the stock to outperform, writing that market expectations for it were overly conservative. [ID:nBNG348271]
XTENT INC XTNT.O
Shares of the company soared 28 percent to $1.92 after it received conditional approval from U.S. health regulators to begin a clinical program for its Custom NX drug eluting stent system. [ID:nBNG418501]
KRAFT FOODS INC (KFT.N)
The food company expects sales in China to rise more than 10 percent in 2009, similar to last year's rate of growth. [ID:nSHA326229]
Shares of the Dow component slid 1.7 percent to $26.59.
AMERICAN INTERNATIONAL GROUP (AIG.N)
TRANSATLANTIC HOLDINGS (TRH.N)
AIG's secondary offering of a stake of 26 million shares of Transatlantic was priced at $38 per share. [ID:nBNG232573]
Shares of AIG rose 5.5 percent to $1.73 while Transatlantic shares rose 2.8 percent to $42.15.
AMERICAN WOODMARK CORP (AMWD.O)
Shares of the company rallied 17 percent to $23 after it reported a surprise fourth-quarter profit. [ID:nBNG88876]
HARLEY-DAVIDSON INC (HOG.N)
Shares of the motorcycle manufacturer fell 5.8 percent to $17.63 after Citi downgraded it to sell, forecasting "sluggish U.S. retail sales growth of down over 20 percent in April and May."
NIKE INC (NKE.N)
Robert W. Baird on Friday upgraded the sportswear maker to outperform from neutral, calling it the "most global company we cover and therefore stands to gain more from a drop in the U.S. dollar than any other company on our list."
Shares of Nike rose 1.8 percent to $58.59.
BOSTON PROPERTIES INC (BXP.N)
The office landlord late Thursday said it would sell more than 12 million shares in a move to raise cash. [ID:nN0451829]
Shares sank 5.2 percent to $50.25.
GUESS INC (GES.N)
The company late Thursday reported first-quarter results that beat expectations. [ID:nWNAB6845]
Shares rose 6.5 percent to $28.80.
ULTA SALON, COSMETICS & FRAGRANCE INC (ULTA.O)
The company posted quarterly results that beat expectations and forecast second-quarter results in line with market estimates. [ID:nBNG436256]
Shares rose 23 percent to $11.78.
CASCADE CORP (CAE.N)
The truck components maker posted a quarterly loss and expects global demand for lift trucks to continue to decline through the rest of fiscal 2010 and into 2011. [ID:nBNG332256]
Shares sank 17 percent to $24.96. (Reporting by Ryan Vlastelica; Editing by Padraic Cassidy)
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