HEADLINE STOCKS-Some U.S. stocks on the move on Dec. 30
(Updates to after the open)
NEW YORK, Dec 30 (Reuters) - Some U.S. stocks on the move on Tuesday:
GENERAL MOTORS (GM.N)
FORD MOTOR (F.N)
The Bush administration said late on Monday it would buy $5
billion in equity in GMAC, an auto and mortgage finance company
partially owned by General Motors (GM.N). The government is
also increasing a loan to GM by $1 billion.
According to the terms of the GMAC deal, the government will buy senior preferred equity with an 8 percent dividend as part of a plan to ensure the solvency of the unit. [ID:nN29320920]
GM shares advanced 5.6 percent to $3.80 while Ford shares fell a penny to $2.21.
SATYAM COMPUTER SERVICES (SAY.N)
One of the company's largest investors said it could sell its stake in the outsourcing company, while some investors speculated that were was private equity interest and a management change at the company. [ID:nBOM308796]
The stock rose 5.2 percent to $8.85.
IRON MOUNTAIN (IRM.N)
UST Inc UST.N
The stock rose 11.5 percent to $22.10 after it was
announced that the company would be added to the S&P 500
.SPX, replacing UST Inc UST.N, which is being bought by
Altria Group (MO.N).
HOKU SCIENTIFIC INC (HOKU.O)
Hoku Scientific Inc said its unit Hoku Solar Inc has formed an investment company along with United Fund Advisors to fund the photovoltaic power systems to be installed and operated in the State of Hawaii.
Shares of the company rose 1.1 percent to $2.81.
THERMAGE INC THRM.O
The company was downgraded to hold at Collins Stewart. [RCH/US]
The stock tumbled 7.7 percent to $1.20.
SAVIENT PHARMACEUTICALS INC (SVNT.O)
Savient said the U.S. regulators accepted its Biological License Application for priority review.
Shares of the company surged 24 percent to $6.12.
RICK'S CABARET INTERNATIONAL INC (RICK.O)
The company's 2008 earnings per share of $0.91 trailed Street view of $0.97, according to the Reuters Estimates.
Shares of the company fell 17 percent to $3.84.
ELIZABETH ARDEN (RDEN.O)
Shares of the company surged 9.5 percent to $11.75 after Wedbush Morgan upgraded the company to buy from hold. [RCH/US]
HEXCEL CORP (HXL.N)
Shares fell 4.6 percent to $6.58 after Stifel Nicolaus cut its price target on the company to $25 from $30. [RCH/US]
(Reporting by Ryan Vlastelica; Editing by Neil Stempleman)
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