(Updates to after the open, adds GM, Citigroup and Acadia
Pharma)
NEW YORK, May 4 (Reuters) - Some U.S. stocks on the move on
Monday:
BANK OF AMERICA CORP (BAC.N)
The company is working on plans to raise more than $10
billion in fresh capital, according to a report in the
Financial Times. [ID:nN03337293]
Shares of the Dow component rose 5.8 percent to $9.21
GENERAL MOTORS GM.N
Shares of the auto company rose 3.3 percent to $1.87 after
it said it had a number of potential buyers for its Saturn
brand and that it would look to secure an agreement with a
specific buyer this year. [ID:nN04385572]
CITIGROUP (C.N)
Shares rose 6.1 percent to $3.15 after Bloomberg reported
that the bank was looking to raise any additional capital it
might need from private investors rather than give more control
to the government. [ID:nN04263467]
ACADIA PHARMACEUTICALS INC (ACAD.O)
BIOVAIL CORP (BVF.N)
Shares of Acadia soared 145 percent to $2.45 after it
entered into a pact with a unit of Biovail to co-develop and
commercialize its experimental drug to treat Parkinson's
disease psychosis. [ID:nBNG489486]
U.S.-listed shares of Biovail rose 1.4 percent to $11.30.
SPRINT-NEXTEL CORP (S.N)
Shares of the company rose 15 percent to $5.37 after it
reported adjusted first-quarter earnings that beat
expectations. [ID:nN04347173]
LOEWS CORP (L.N)
CNA FINANCIAL CORP (CNA.N)
Conglomerate Loews reported a first-quarter loss, hurt by
charges related to its natural gas unit and investment losses
at CNA Financial (CNA.N). [ID:nN04514216].
CNA also reported its quarterly results on Monday.
[ID:nN04512937]
Shares of Loews rose 5.6 percent to $26.61 while CNA shares
gained 10.4 percent to $13.17.
ESTEE LAUDER COS INC (EL.N)
The cosmetics company reported first-quarter earnings that
beat expectations. [ID:nN04324031]
Shares slid gained 8.5 percent to $33.79.
TYSON FOODS INC (TSN.N)
The food company reported a second-quarter loss and said it
was "too soon to predict the impact of the H1N1 outbreak."
[ID:nN04371340]
Shares of the company jumped 8.2 percent to $11.43.
SYSCO CORP (SYY.N)
The company reported its third-quarter results and gave an
outlook for its 2009 capital expenditures. [ID:nBNG491302]
The stock slid 2.1 percent to $23.83.
PEPSI BOTTLING GROUP INC (PBG.N)
PEPSICO (PEP.N)
Pepsi Bottling on Monday rejected a buyout proposal from
PepsiCo, calling it "grossly inadequate." [ID:nBNG488058]
Shares of Pepsi Bottling were flat at $31.40 while PepsiCo
shares slid 0.8 percent to $49.42.
HEWLETT-PACKARD CO (HPQ.N)
RESEARCH IN MOTION LTD (RIMM.O)
The two companies said they had formed a pact to provide
services for RIM's BlackBerry smart phone product.
[ID:nBNG178360]
Shares of Hewlett-Packard, a Dow component, rose 1 percent
to $36.89 while shares of RIM gained 2.4 percent to $74.04.
WALGREEN CO (WAG.N)
The drug store reported an increase of 3.7 percent in its
April same-store sales. [ID:nWNAB2493]
Shares rose 1.3 percent to $31.92.
BERKSHIRE-HATHAWAY (BRKa.N)
Warren Buffett said that he would buy more shares in three
big banks that Berkshire already owns, and that the three --
Wells Fargo (WFC.N), U.S. Bancorp (USB.N) and M&T Bank (MTB.N)
-- didn't need more equity capital. [ID:nN03280815]
Shares of Berkshire rose 1.5 percent to $93,3500.
DISCOVERY COMMUNICATIONS INC (DISCA.O)
The communications company reported a rise in its
first-quarter earnings and revenue that was better than
expected. [ID:nN04328715]
The stock rose 7 percent to $19.91.
ASTRONICS CORP (ATRO.O)
The company reported its first-quarter results and cut its
2009 sales outlook. [ID:nWNAB2420]
Shares fell 7 percent to $10.13.
AMERICAN INTERNATIONAL GROUP INC (AIG.N)
The insurance company is close to selling its Japanese
headquarters to a Japanese insurance company for about $1
billion, according to a report in the Wall Street Journal.
[ID:nBNG237006]
The stock rose 3.6 percent to $1.43.
SCHLUMBERGER (SLB.N)
Shares of the oil services company could rise as much as 25
percent over the next two years if the global economy begins to
recover in either 2010 or 2011, Barron's wrote.
[ID:nN03311582]
Shares of Schlumberger rose 4.8 percent to $53.11.
MENTOR GRAPHICS (MENT.O)
Shares of the company could rise as much as 30 percent in
the next year if its clients renew contracts in 2009, as some
analysts expect, Barron's wrote. [ID:nN03355434]
Shares rose 10 percent to $7.46.
CLOROX CO (CLX.N)
Shares of Clorox could continue to outperform rivals as its
margins increase and less than 15 percent of its business is
vulnerable to the rising U.S. dollar, Barron's wrote.
[ID:nN03328494]
Shares slid 0.7 percent to $54.92.
PERICOM SEMICONDUCTOR CORP (PSEM.O)
The chip maker late Friday forecast fourth-quarter revenue
above Wall Street estimates. [ID:nWNAB2269]
Shares rose 4.4 percent to $9.01.
DG FASTCHANNEL INC (DGIT.O)
The company late Friday said it had amended its senior
credit facility and retired its bridge loan early.
[ID:nWNAB7135]
The stock rose 3.2 percent to $22.70.
(Editing by James Dalgleish)
