HEADLINE STOCKS-U.S. stocks on the move on May 15

Fri May 15, 2009 2:00pm EDT
 
[-] Text [+]
 (Adds Alcoa, SunTrust, updates GM)
 NEW YORK, May 15 (Reuters) - Some U.S. stocks on the move
on Friday:
 HARTFORD FINANCIAL CORP (HIG.N)
 LINCOLN NATIONAL CORP (LNC.N)
 PRUDENTIAL FINANCIAL GROUP (PRU.N)
 PRINCIPAL FINANCIAL GROUP (PFG.N)
 The insurance companies won approval to raise billions of
dollars through the government's bailout plan, the U.S.
Treasury Department said late Thursday. For more see
[ID:nN14521232].
 Shares of Hartford rose 0.8 percent to $14.86 while Lincoln
shares gained 0.1 percent to $16.26, Prudential was down 2.2
percent to $38.50 and Principal was up 1.5 percent to $19.14.
 BANK OF AMERICA CORP (BAC.N)
 Temasek on Friday sold its 3 percent stake in the bank in
the first quarter of 2009, taking a $3 billion loss in the
process. [ID:nSIN454726]
 Also, according to a report in the Wall Street Journal,
U.S. officials have urged the bank to revamp its board and
bring in directors with more banking experience.
[ID:nBNG400442]
 Shares of the Dow component fell 4.5 percent to $10.80.
 LAS VEGAS SANDS CORP (LVS.N)
 The casino operator has hired Goldman Sachs (GS.N) to look
at a potential Hong Kong listing for its Macau unit, according
to a source familiar with the matter. [ID:nHKG32201]
 Shares of Las Vegas slid 0.9 percent to $9.35.
 YRC WORLDWIDE INC (YRCW.O)
 The company plans to apply for $1 billion in federal
bailout money. [ID:nN15145900]
 Shares fell 13 percent to $2.85.
 GENERAL MOTORS GM.N
 The automaker plans to cut about 1,600 dealers as it moves
to slash its operating costs. [ID:nN15384469]
 Shares of GM, a Dow component, fell 5.2 percent to $1.09.
 SUNTRUST BANKS INC (STI.N)
 The regional bank will sell $1.25 billion of common stock
and cut its quarterly dividend by 90 percent in a move to raise
capital. [ID:nN15300312]
 Shares fell 0.6 percent to $14.94.
 ALCOA INC (AA.N)
 Shares of the Dow component rose 3.7 percent to $9.06 after
Goldman Sachs resumed coverage on the stock with a buy rating.
[ID:nN15222362]
 ABERCROMBIE & FITCH CO (ANF.N)
 The apparel company reported a first-quarter loss and said
it was conducting a strategic review of its Ruehl chain.
[ID:nN151767]
 Shares were 4.3 percent lower at $26.09.
 PANASONIC CORP (PC.N)
 U.S.-listed shares of the electronics company rose 2.6
percent to $15 after it reported fourth-quarter results.
[ID:nT317165]
 EXELIXIS INC (EXEL.O)
 BRISTOL-MYERS SQUIBB CO (BMY.N)
 A drug being developed by the two companies was shown to
shrink brain tumors in some patients, according to interim
results from a mid-stage study of the drug. [ID:nN12330063]
 Shares of Exelisix soared 9.1 percent to $4.82 while
Bristol shares slid 2.6 percent to $19.92.
 EMULEX CORP (ELX.N)
 BROADCOM CORP (BRCM.O)
 Emulex's board unanimously rejected Broadcom's $9.25 per
share tender offer, saying it significantly undervalued the
company's long-term prospects. [ID:nN15519653]
 Broadcom shares fell 0.7 percent to $20.84 while Emulex
shares rose 0.9 percent to $10.72.
 NORDSTROM INC (JWN.N)
 The department store late Thursday reported first-quarter
earnings that beat expectations and raised its 2009 outlook.
[ID:nN13413535]
 Shares rose 6.7 percent to $22.35.
 EDDIE BAUER HOLDINGS INC EBHI.O
 The apparel retailer reported a first-quarter loss that
widened from the prior year. [ID:nBNG449528]
 Shares sank 25.5 percent to 48 cents.
 CHEMED CORP (CHE.N)
 The hospice-care provider said its VITAS unit received an
administrative subpoena from the U.S. Department of Justice,
asking for documents, patient records, and policy and procedure
manuals since 2003. [ID:nBNG398056]
 Shares fell 6.1 percent to $38.68.
 EXAR CORP (EXAR.O)
 The semiconductor company posted a narrower-than-expected
quarterly loss and forecast first-quarter revenue above analyst
expectations. [ID:nBNG448633]
 Shares rose 3.4 percent to $6.11.
 ORION ENERGY SYSTEMS INC (OESX.O)
 The company reported a wider-than-expected fourth-quarter
loss and forecast a first-quarter loss that was wider than
expectations. [ID:nWNAB9963]
 Shares fell 4.6 percent to $3.95.
 (Reporting by Ryan Vlastelica; Editing by Kenneth Barry)


 

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