HEADLINE STOCKS-U.S. stocks on the move on April 28
(Updates to after the open, adds IBM, Bristol-Myers, Interpublic, Coca-Cola Enterprises, Fortune Brands)
NEW YORK, April 28 (Reuters) - Some U.S. stocks to watch on Tuesday:
BANK OF AMERICA (BAC.N)
CITIGROUP (C.N)
Shares of the banks tumbled in premarket trade on Tuesday, after the Wall Street Journal reported that the banks were told they may need to raise more capital, following stress tests of their ability to withstand the economic crisis. [ID:nBNG118035]
BofA was down 6.5 percent to $8.34 while Citigroup lost 5.9 percent to $2.89.
PFIZER INC (PFE.N)
Shares rose 1.1 percent to $13.33 after the pharmaceutical company reported first-quarter earnings that beat expectations. [ID:nN27318686]
INTERNATIONAL BUSINESS MACHINE (IBM.N)
Shares rose 1.2 percent to $101 after it approved a 10 percent increase in its quarterly dividend and authorized a $3 billion stock buyback program. [ID:nWNAB9247]
BRISTOL-MYERS SQUIBB (BMY.N)
Shares of the pharmaceutical company slid 0.9 percent to $20.36 after it reported a decline in its first-quarter profit. [ID:nN28449877]
INTERPUBLIC (IPG.N)
Shares of the advertising company rose 4.2 percent to $5.77 after it reported a first-quarter loss that was narrower than expected. [ID:nN28315898]
COCA-COLA ENTERPRISES (CCE.N)
Shares of the bottling company rose 5.2 percent to $15.92 after it reported an adjusted first-quarter profit that was above expectations. [ID:nN28549390]
FORTUNE BRANDS (FO.N)
Shares of the company rose 7.8 percent to $39.37 after it affirmed its 2009 outlook. [ID:nN28294397]
OFFICE DEPOT (ODP.N)
Shares of the office supplies retailer surged 7.9 percent to $2.73 after it unexpectedly reported an adjusted quarterly profit. [ID:nBNG453522]
SL GREEN REALTY CORP (SLG.N)
Shares of the office landlord fell 2.3 percent after it reported funds from operations that were below expectations. [ID:nN27399516]
MCGRAW-HILL COS (MHP.N)
Shares fell 3.2 percent after the publishing company reported its first-quarter results. [ID:nN28291650]
LAZARD LTD (LAZ.N)
Shares of the merger advisor fell 9.2 percent to $28.48 after it swung to a first-quarter loss, hurt by charges related to job cuts and and business changes amid a market slump that has slowed business activity. [ID:nN23315445]
FRESH DEL MONTE PRODUCE (FDP.N)
Shares of the fruit and vegetable company tumbled 11.4 percent to $15.09 after it reported first-quarter earnings that were below expectations. [ID:nBNG89394]
FOREST OIL CORP (FST.N)
Shares of the oil company fell 4.3 percent to $15.64 after Jefferies downgraded it to hold from buy, citing valuation. [ID:nWNAB9007]
AMERICAN EXPRESS (AXP.N)
AmEx and German insurer Allianz have raised a combined $1.9 billion through the sale of shares in Chinese bank ICBC. The stock was sold for a 4 percent discount to Monday's closing pricing, a source with direct knowledge of the deal said on Tuesday. [ID:nHKG83559]
Shares of AmEx, a Dow component, fell 2.3 percent to $23.66.
U.S. STEEL (X.N)
Shares of the steel company dropped 8 percent to $25.50 after it reported a quarterly loss that was wider than expected. [ID:nN28299229]
INVESCO (IVZ.N)
The money managing company and investor Wilbur Ross are leading a group that is committing $1 billion to buy toxic bank loans and securities through the U.S. government's Public-Private Investment Program. [ID:nN27523139]
Shares fell 2.1 percent to $13.69.
PAREXEL INTERNATIONAL CORP (PRXL.O)
Shares of the company soared 22 percent to $9.88 after it raised its 2008 earnings outlook. [ID:nBNG451078]
BIOCRYST PHARMACEUTICALS INC (BCRX.O)
Shares of the pharmaceutical company rose 17 percent to $4.50 after Leerink Swann said the company's drug Peramivir would likely be effective against swine flu strain. [ID:nWNAB8579]
RENT-A-CENTER INC (RCII.O)
Shares of the furniture and appliance rental company tumbled 17 percent to $17.98 after it forecast revenue below expectations. [ID:nBNG453603]
GRAND CANYON EDUCATION INC (LOPE.O)
Shares of the education company rose 7.2 percent to $17.08 after it reported quarterly earnings that beat expectations and raised its full-year outlook. [ID:nBNG467176]
(Reporting by Ryan Vlastelica, Editing by Chizu Nomiyama)
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