HEADLINE STOCKS-U.S. stocks on the move on May 19
(Updates to afternoon trading; adds TJX, Solarfun, JA Solar, Verizon, Dick's, CardioNet and Omega)
NEW YORK, May 19 (Reuters) - Some U.S. stocks on the move on Tuesday:
HOME DEPOT INC (HD.N)
The home improvement retailer reported first-quarter earnings that beat expectations, as it reined in expenses. For more see [ID:nN19544666].
Shares of the Dow component fell 4.3 percent to $24.91, following a sharp rally on Monday.
GOLDMAN SACHS (GS.N)
The company, along with Morgan Stanley, has applied to repay the billions of dollars borrowed under the U.S. government's TARP program, sources familiar with the situation said Monday. [ID:nN18348890]
Shares of Goldman rose 0.5 percent to $143.86.
AMERICAN EXPRESS INC (AXP.N)
The credit card company late Monday said it planned to cut 4,000 jobs, or 6 percent of its work force, as the economy causes higher customer defaults. [ID:nN18369935]
Shares of the Dow component slid 2.2 percent to $25.56.
SAKS INC (SKS.N)
The luxury retailer reported a smaller-than-expected quarterly loss and gave a full-year outlook. [ID:nN19369603]
Shares gained 26 percent to $5.15.
DICK'S SPORTING GOODS INC (DKS.N)
Shares of the company fell 5.4 percent to $18.71 after it reported first-quarter results and forecast weak gross margins in 2009. [ID:nBNG496663]
TJX COS INC (TJX.N)
Shares of the apparel retailer rose 4.2 percent to $29.10 after it reported first-quarter earnings rose from the prior year and profit for the current quarter could top analysts' view. [ID:nN19410856]
SPRINT NEXTEL CORP (S.N)
PALM INC (PALM.O)
Sprint will sell Palm's Pre smartphone starting June 6 and will be the exclusive carrier for Palm at least through the end of the year. [ID:nN19402184]
Shares of Sprint rose 2.1 percent to $5.43 while Palm was down 5.1 percent to $11.44.
MEDTRONIC INC (MDT.N)
The company reported fourth-quarter results, which included a rise of 8 percent in annual revenue, and gave a fiscal 2010 outlook that disappointed investors. [ID:nN18371374]
Shares fell 7.6 percent to $31.37.
CARDIONET INC (BEAT.O)
Shares rose 16 percent to $19.77 after the medical technology company said the reimbursement rate for mobile cardiac outpatient telemetry had been kept unchanged by Pennsylvania Medicare carrier Highmark, allaying fears of a rate cut. [ID:nBNG361934]
MORGAN STANLEY (MS.N)
Credit Suisse raised its price target on the financial services company to $28 from $26, citing asset price firming in fixed income and equities and signs of broader systemic improvement. [ID:nBNG347514]
Morgan Stanley shares rose 1.8 percent to $28.79.
OMEGA NAVIGATION ENTERPRISES INC (ONAV.O)
Shares of the oil tanker company sank 15 percent to $3.80 after it said it would temporarily suspend its dividend in a move to boost liquidity. [ID:nBNG376030]
JA SOLAR HOLDINGS CO LTD (JASO.O)
SOLARFUN POWER HOLDINGS CO (SOLF.O)
JA Solar shares rose 0.6 percent to $3.26 after it reported a first-quarter loss that was wider than expected, while shares of smaller Chinese peer Solarfun rose 11 percent to $5.65 after its results beat expectations. [ID:nN19417302]
TENET HEALTHCARE (THC.N)
Shares rose 29 percent to $2.90 after Goldman Sachs upgraded the hospital operator to "buy" from "neutral" and raised its price target on the stock to $5 from $1. [ID:nBNG425787]
VERIZON COMMUNICATIONS INC (VZ.N)
The company's CFO said he expects the company to beat its wireless quarterly profit margin target of 43 percent to 45 percent. [ID:nN19413863]
Shares of the Dow component were flat at $29.69.
DRYSHIPS INC (DRYS.O)
The dry bulk carrier reached an agreement with DnB NOR Bank on waiver terms for $86 million of its outstanding debt. [ID:nBNG445072]
Shares rose 2.8 percent to $7.24.
HIMAX TECHNOLOGIES INC (HIMX.O)
The chipmaker reported quarterly earnings that met market estimates and said it expects second-quarter revenue to rise sequentially. [ID:nBNG469658]
Himax shares rose 8.1 percent to $2.80.
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