HEADLINE STOCKS-U.S. stocks on the move on May 13
(Adds Protective Life, Sanderson Farms, GT Solar, National Cinemedia, updates prices)
By Chuck Mikolajczak
NEW YORK, May 13 (Reuters) - Some U.S. stocks to watch on Wednesday:
INTEL CORP (INTC.O)
ADVANCED MICRO DEVICES INC (AMD.N)
The European Commission fined Intel a record 1.06 billion euros ($1.45 billion) on Wednesday and ordered it to halt illegal rebates and other practices used to squeeze out rival Advanced Micro Devices. [ID:nLD471703]
Shares of the Dow component slipped 0.3 percent to $15.16 while Advanced Micro shares gained 1.8 percent to $4.43.
MGM MIRAGE (MGM.N)
The casino operator said it obtained a waiver and amended its senior credit facility, requiring it to offer up to $2.5 billion in stock and notes. [ID:nBNG429732]
Shares of fell nearly 27 percent to $9.11.
MASTERCARD INC (MA.N)
The world's second-largest credit card company expects the decline in U.S. credit card transactions to be slow and is forecasting mixed economic conditions in Europe, according to slides prepared for an investor meeting on Wednesday.
Shares fell 3.7 percent to $171.71.
HOME DEPOT (HD.N)
The home improvement retailer was upgraded to "buy" from "hold" at Citigroup, as the firm believes the earnings per share estimates could prove to be conservative in 2009, resulting in an upside surprise.
Shares rose 0.7 percent to $24.82.
SMITHFIELD FOODS INC (SFD.N)
The hog and pork producer disclosed in a filing with the Securities and Exchange Commission that it expects to meet all covenants for the fourth quarter and believes fiscal 2010 should be a better year than 2009.
Shares slid 5.1 percent to $11.40.
SANDERSON FARMS INC (SAFM.O)
The U.S. chicken producer said export demand for May and June and retail sales were good while food service was weak. The company said the H1N1 flu has not affected chicken sales.
Shares rose 3.6 percent to $39.96.
PROTECTIVE LIFE CORP (PL.N)
The company announced a proposed common equity offering of 12.5 million shares, with proceeds to be used for general corporate purposes.
Shares plunged 22.9 percent to $9.01.
GT SOLAR INTERNATIONAL INC (SOLR.O)
The company reported fourth-quarter results and issued a full year outlook that fell short of Wall Street estimates.
Shares tumbled 24 percent to $5.49.
SUNTRUST BANKS INC (STI.N)
Goldman Sachs removed the stock from its Americas sell list and raised its rating to a "neutral," saying the bank's stress test capital need was smaller than what the brokerage had expected.
Still, shares fell 5.9 percent to $15.25, and a bank stock index .BKX was off 2 percent.
SEAGATE TECHNOLOGY (STX.O)
The computer storage maker said on Wednesday it plans to cut about 1,100 jobs from its workforce in a move the company said will reduce costs by about $125 million a year.
Shares shed 5.6 percent to $6.93.
NATIONAL CINEMEDIA (NCMI.O)
The in-theater digital advertising company posted in-line quarterly earnings but forecast lower-than-expected second quarter revenue.
Shares fell 19 percent to $11.92.
LIZ CLAIBORNE (LIZ.N)
The fashion company reported a quarterly loss deeper than Wall Street expected as retail sales remained weak in the recession. [ID:nN13329417]
Shares plummeted 24 percent to $4.38.
DR. PEPPER SNAPPLE GROUP INC (DPS.N)
The soft drink maker reported a higher-than-expected quarterly profit on Wednesday as consumers bought its value-priced soft drinks. [ID:nBNG501921]
Shares of climbed 2.5 percent to $21.80.
MAIDENFORM BRANDS INC (MFB.N)
The company reported a better-than-expected quarterly profit and raised its earnings per share outlook for the full year.
Shares gained 6.8 percent to $12.93.
YUM BRANDS INC (YUM.N)
VISA INC (V.N)
PEPSICO (PEP.N)
AMERIPRISE FINANCIAL INC (AMP.N)
UBS removed Yum Brands and Visa from its "Strategic Stock Selections" list and added PepsiCo and Ameriprise Financial. [ID:nWNAB8797]
Yum Brands fell 3.9 percent to $31.66, Visa shed 0.8 percent to $64.56, Pepsico added 0.8 percent to $49.64 and Ameriprise dropped 3.5 percent to $24.76.
MEDCINES CO (MDCO.O)
The company said it is discontinuing late-stage trials of its antiplatelet agent cangrelor in patients undergoing a procedure to widen narrow arteries, as it does not expect the drug to meet its goal.
Shares plunged nearly 35 percent to $7.29.
CONSOLIDATED EDISON INC (ED.N)
Goldman Sachs added the energy company to its "Conviction Sell" list with a $32 price target. [ID:nWNAB8786]
Shares fell 3.1 percent to $35.33.
FLUOR CORP (FLR.N)
JACOBS ENGINEERING (JEC.N)
Goldman Sachs upgraded the engineering and construction sector to neutral from cautious. [ID:nWNAB8768]
Fluor Corp sank 4.6 percent to $43.57 while Jacobs Engineering gained 2.1 percent to $39.10.
FRONTIER COMMUNICATIONS CORP (FTR.N)
VERIZON COMMUNICATIONS INC (VZ.N)
The rural telephone service provider agreed to buy 4.8 million phone access lines in 14 states from Verizon for $5.35 billion in stock. [ID:nN13378562]
Frontier shares fell 4.9 percent to $7.20 while Verizon dropped 1.7 percent to $29.87.
R.R. DONNELLEY & SONS CO RRD.N
The printing service provider said it offered to buy the
assets and properties of Quebecor World (IQW.TO) for about
$1.35 billion in cash and stock to expand into Canada .
[ID:nBNG31560]
R.R. Donnelley shares fell 8.8 percent at $11.85.
MACY'S INC (M.N)
The department store retailer reported a first-quarter adjusted loss of 16 cents per share versus Wall Street estimates of a 21 cents per share loss. [ID:nWNAB8815]
Its shares slid 6.4 percent to $11.56.
MONSANTO CO (MON.N)
The agriculture company said that its U.S. gross profit from seeds and traits would double by 2012 from the 2008 level while the international business would grow by 85 percent. [ID:nN11188410]
Shares added 0.3 percent at $90.33.
TIDEWATER INC (TDW.N)
The oilfield services company reported fourth-quarter results that topped expectations. [ID:nWNAB8799]
Shares slipped 4.5 percent at $44.16.
HELEN OF TROY LTD (HELE.O)
The personal products maker reported fourth-quarter adjusted earnings that were above analysts' expectations. [ID:nWNAB8783]
Shares jumped 8.3 percent at $18.47.
(Editing by Chizu Nomiyama)
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