HEADLINE STOCKS-U.S. stocks on the move on May 28

(Updates to afternoon trading, adds Lions Gate, Perry Ellis,
Revlon, Devon Energy, Sanderson and Express Scripts)

NEW YORK, May 28 (Reuters) - Some U.S. stocks on the move
on Thursday:

GENERAL MOTORS CORP (GM.N)

The Obama administration said that any GM bankruptcy would
take at least 60 to 90 days and perhaps longer, a senior
official said on Thursday. [ID:nN28446818]

Shares of the Dow component fell 2.6 percent to $1.12.

PROCTER & GAMBLE CO (PG.N)

The consumer products company gave an outlook for its 2009
and 2010 fiscal years; its fiscal 2010 forecast was well below
Wall Street estimates. [ID:nN28309342]

Shares of the Dow component edged 0.5 percent higher to
$52.02.

TIME WARNER INC (TWX.N)

The company announced a plan to separate its AOL unit, with
the division becoming an independent, publicly traded company.
[ID:nN28396528]

Shares rose 2.1 percent to $23.47.

COSTCO WHOLESALE CORP (COST.O)

The retailer reported its third-quarter results, which
included a drop of 7 percent in its same-store sales as
shoppers stuck to basic commodities and eschewed discretionary
items. [ID:nN26497146]

Shares fell 2.6 percent to $47.57.

FORD MOTOR CO (F.N)

The automaker said it had no plans to buy back Visteon
businesses or manufacturing operations, after the parts maker
filed for Chapter 11. [ID:nWEN9648]

Shares rose 1.5 percent to $5.42.

DEVON ENERGY CORP (DVN.N)

The oil and gas company will cut 75 jobs as it consolidates
its international and Gulf of Mexico divisions in a move to cut
costs. [ID:nN28457355]

Shares rose 4 percent to $62.69.

PONIARD PHARMACEUTICALS INC (PARD.O)

The pharmaceutical company detailed the results for its
experimental drug picoplatin in mid-stage trials against
advanced colorectal cancer and advanced prostate cancer.
[ID:nN27340203]

Shares fell 10.3 percent to $4.02.

TARGET CORP (TGT.N)

A proxy battle between the company and activist investor
William Ackman is being put to a vote at the retailer's annual
meeting on Thursday. [ID:nN28321308]

Shares slid 1.4 percent to $39.04.

PERRY ELLIS INTERNATIONAL INC (PERY.O)

The clothing maker reported first-quarter earnings that
trumped expectations as it benefited from tighter cost
controls. [ID:nBNG423132]

Shares surged 21 percent to $8.21.

EXPRESS SCRIPTS INC (ESRX.O)

The pharmacy benefits manager cleared an antitrust hurdle
for its acquisition of WellPoint Inc's (WLP.N) NextRx pharmacy
benefits management subsidiaries and now expects the $4.68
billion deal to close during the second half of 2009.
[ID:nN28316888]

Shares rose 4.7 percent to $64.52.

SANDERSON FARMS INC (SAFM.O)

The company reported much larger than expected
second-quarter results, easily beating expectations, as it
benefited from lower feed costs and production cuts..
[ID:nN28293257]

Shares rose 4.4 percent to $43.91.

REVLON INC (REV.N)

The cosmetics company will cut 400 jobs worldwide as it
seeks to reduce costs. It also expects second-quarter results
to be hit by retailers cutting inventory levels and foreign
currency fluctuations. [ID:nBNG432356]

Shares sank 15 percent to $5.04.

LIONS GATE ENTERTAINMENT CORP (LGF.N)

The company agreed to sell a 49 percent stake in the TV
Guide channel for $125 million to One Equity Partners and media
entrepreneur Allen Shapiro. [ID:nN28477259]

Shares rose 0.7 percent to $5.45.

CITIGROUP INC (C.N)

The bank is in early negotiations with the U.S. Securities
and Exchange Commission to settle a probe into whether the bank
misled investors by not properly disclosing the amount of
troubled mortgage assets it held as the markets started to fall
in 2007, according to a report in the Wall Street Journal.
[ID:nBNG120676]

Shares of Citigroup, a Dow component, fell 0.8 percent to
$3.67.