HEADLINE STOCKS-U.S. stocks on the move on Feb 27

(Updates to after the open)

NEW YORK, Feb 27 (Reuters) - Some U.S. stocks on the move
on Friday:

CITIGROUP (C.N)

The U.S. government will commit to holding a common equity
stake of 30 to 40 percent in Citigroup, a source familiar with
the matter said on Friday. The deal will result in most of the
company's board getting replaced, the source said.

The cornerstone of the deal is the conversion of up to $25
billion in government-held preferred shares to common equity,
according to the source. The move is designed to bolster the
capital base of the troubled bank. For more see
[ID:nN27210042].

Shares of Citigroup, a Dow component, tumbled 31.7 percent
to $1.68.

GENERAL MOTORS (GM.N)

The management at General Motors' Opel subsidiary in
Germany will present its supervisory board with a restructuring
plan on Friday faced with the worst market in decades. The plan
is expected to cost thousands of jobs and possibly the closure
of one or more plants.

The restructuring comes as Opel is looking for the state to
guarantee $3.3 billion in loans. [ID:nLR351268]

Shares of GM, a Dow component, fell 8.8 percent to $2.17.

CV THERAPEUTICS CVTX.O

Japanese drugmaker Astellas Pharma launched a hostile $1
billion bid for CV Therapeutics after the company rejected
Astellas's buyout offer.

"While we continue to prefer to reach a negotiated
agreement with CV Therapeutics' Board, their refusal to engage
with us regarding our proposal has left us with no alternative
but to take out offer directly to CV Therapeutics's
stockholders," Astellas said. [ID:nBNG463895]

Shares of CV rose 2.4 percent to $16.24.

BLACKSTONE GROUP (BX.N)

Shares of Blackstone fell 4.4 percent to $3.70 after it
reported a fourth-quarter loss that was wider than expected and
said it wouldn't make a quarterly payout to shareholders.
[ID:nN27332444]

SOTHEBY'S (BID.N)

Shares of the auctioneer fell 3.3 percent to $6.57 on
Friday after it said it would be cutting jobs and reducing
selling activities in Amsterdam as part of a restructuring
plan. The move will impact its auction segment in the U.K. and
Continental Europe. [ID:nBNG468428]

JAMES RIVER COAL (JRCC.O)

Shares of the coal company fell 10.2 percent to $10.27 on
Friday after it reported a fourth-quarter loss that was wider
than expected and gave a 2009 earnings outlook that was below
expectations.

ERESEARCHTECHNOLOGY INC (ERES.O)

Eresearchtechnology posted lower-than-expected quarterly
profit, and forecast weak 2009 outlook, hurt by decline in its
thorough QT business.

Shares of the company fell 27 percent to $4.72.

OMNIVISION TECHNOLOGIES INC (OVTI.O)

OmniVision posted a third-quarter loss, hurt by slowing
demand, and sees fourth-quarter results below Wall Street
targets, sending its shares down as much as 18 percent in
after-hours trade. [ID:nBNG453021]

Shares of the company fell 14 percent to $6.10.

DECKERS OUTDOOR CORP (DECK.O)

Footwear maker Deckers Outdoor Corp (DECK.O) posted a
higher-than-expected fourth-quarter profit, helped by higher
sales of its premium UGG brand, but forecast 2009 profit below
market estimates, citing higher marketing and stock
compensation expenses. [ID:nBNG448541]

Shares of the company fell 20 percent to $42.47.

PETROHAWK ENERGY CORP (HK.N)

Oil and gas producer Petrohawk Energy Corp (HK.N) said it
filed with the U.S. regulator to issue up to 22 million shares.
[ID:nBNG451924]

Petrohawk shares fell 8.1 percent to $17.09.
(Editing by James Dalgleish)