(Updates to afternoon trade)
NEW YORK, April 7 (Reuters) - Some U.S. stocks on the move on Tuesday:
ALCOA INC (AA.N)
The aluminum company is scheduled to report its quarterly results after the
bell on Tuesday, marking the unofficial start of the quarterly earnings
season.
The stock, a Dow component, fell 3.0 percent to $7.67.
AMERICAN INTERNATIONAL GROUP (AIG.N)
About half a dozen investment managers have put forward bids for AIG's
asset management unit, according to the Wall Street Journal. The bids range
between $400 million and $800 million. [ID:nBNG134150]
Shares of AIG slid 3.6 percent to $1.06.
APPLIED MATERIALS (AMAT.O)
A client for the company's solar production gear has cut its order by more
than 85 percent, to $250 million. [ID:nN06422646]
Shares fell 8.8 percent to $10.54.
CORN PRODUCTS (CPO.N)
The company named Ilene Gordon chief executive officer, chairman and
president effective May 4. [ID:nBNG439332]
Shares of Corn Products fell 4.1 percent to $22.54.
FARO TECHNOLOGIES INC (FARO.O)
The provider of laser trackers forecast a decline of 32 percent in its
first-quarter sales. [ID:nWNAB1163]
The stock fell 9.2 percent to $13.28.
HEADWATERS INC (HW.N)
The diversified company announced consolidation of its operating units and
reduced staffing at Alabama coal cleaning facilities. [ID:nWNAB1200]
The stock fell 13 percent to $2.75.
GENERAL MOTORS GM.N
Shares of the automaker fell 14 percent to $1.96 after a source said the
company was in "intense" and "earnest" preparations for a possible bankruptcy
filing. [ID:nN07463416], see also [ID:nN07460037]
IMMUCOR INC (BLUD.O)
The blood-testing products maker posted its quarterly results and gave an
outlook. [ID:nBNG434657]
The stock fell 5.3 percent to $22.78.
LINCOLN NATIONAL (LNC.N)
Shares rose 8.6 percent to $6.92 after the life insurance company paid off
$500 million of maturing debt and plans to pay off $200 million of commercial
paper maturing over the next several weeks. [ID:nN07332028]
MICROSOFT CORP (MSFT.O)
RBC Capital Markets upgraded the software company to outperform from sector
perform.
Shares of the company, a Dow component, rose 1 percent to $18.95.
PENSON WORLDWIDE INC (PNSN.O)
The securities-clearing firm forecast a lower-than-expected profit for the
first quarter, hurt by lower trading volumes in January and the first half of
February. [ID:nBNG451270]
The stock fell 1.9 percent to $7.74.
PFIZER (PFE.N)
WYETH WYE.N
The company detailed what its operating structure would be like after it
closes on its acquisition of Wyeth. [ID:nWNAB1459]
Shares of Pfizer fell 0.9 percent to $13.58 while Wyeth shares dipped 0.5
percent to $42.54.
PIER 1 IMPORTS (PIR.N)
The retailer swung to a fourth-quarter loss as markdowns ate into its
margins. [ID:nBNG447762]
Shares surged 20 percent to 77 cents.
VENTAS INC (VTR.N)
The healthcare real-estate investment trust is planning a public offering
of 8.5 million common shares, and $200 million of senior notes due 2016.
[ID:nBNG451387]
Shares of the company slid 4.1 percent to $24.37
WHIRLPOOL CORP (WHR.N)
Shares slid 6.2 percent to $32.17 after the company said it would close its
washing machine facility in Shanghai, cutting 600 jobs. [ID:nN07520722]
YRC WORLDWIDE (YRCW.O)
Shares tumbled 26 percent after the company forecast first-quarter charges
of up to $185 million due to ongoing restructuring of its network and the
faltering U.S. economy. [ID:nN07456442]
(Reporting by Ryan Vlastelica; Editing by Theodore d'Afflisio)
