HEADLINE STOCKS-Some U.S. stocks on the move on July 8

(Updates to add Hess, DynCorp, MSC Software, Freeport, ARYx Therapeutics, Steak n Shake, AIG, Air Products, DryShips)

NEW YORK, July 8 (Reuters) - Some U.S. stocks on the move on Wednesday:

ALCOA INC (AA.N)

The aluminum company is scheduled to report its quarterly results after the closing bell, unofficially kicking off the second-quarter earnings season.

Shares of the Dow component fell 2.2 percent to $9.20.

GOOGLE INC (GOOG.O)

The Internet search company is planning to launch a personal computer operating system in the second half of 2010, a move that takes direct aim at Microsoft's (MSFT.O) Windows product. [ID:nL8468341]

Shares of Google rose 1.6 percent to $402.87 while Microsoft, a Dow component, fell 0.9 percent to $22.34.

MSC SOFTWARE CORP MSCS.O

The company has agreed to a $360 million buyout by private equity firm Symphony Technology Group and private investment firm Elliott Management Corp. [ID:nN07337927]

Shares gained 11 percent to $7.48.

FAMILY DOLLAR STORES INC (FDO.N)

The company reported third-quarter results that beat expectations.

Shares gained 11 percent to $30.80.

TRACTOR SUPPLY CO (TSCO.O)

The company forecast second-quarter earnings above expectations and raised its full-year outlook. [ID:nBNG406026]

Shares soared 8.7 percent to $44.85.

DYNCORP INTERNATIONAL (DCP.N)

The defense contractor won a contract to provide logistics services to support the U.S. Army in Afghanistan. [ID:nN08386524]

Shares gained 23 percent to $17.80.

AMERICAN INTERNATIONAL GROUP INC (AIG.N)

S&P Equity Research cut AIG to "sell" from "hold," citing "weak fundamentals and a high degree of execution risk."

Shares of AIG fell 5.4 percent to $13.01.

AIR PRODUCTS AND CHEMICALS INC (APD.N)

KeyBanc Capital Markets upgraded the company to "buy" from "hold," citing a potential rebound in the company's semiconductor franchise, cost savings and new tonnage projects. [ID:nBNG290790]

Shares rose 2.5 percent to $62.30.

DRYSHIPS INC (DRYS.O)

Credit Suisse upgraded the company two notches to "outperform" from "underperform," writing that the recent rally in oil prices should help the Greek shipping company secure contracts for its drillships. [ID:nBNG492298]

The stock rose 5.3 percent to $5.16.

FREEPORT-MCMORAN COPPER & GOLD INC (FCX.N)

Citigroup upgraded the company to "buy" from "hold," citing a bullish outlook for copper pricing in 2010 and 2011. But gold's price hit a two-month low and copper also fell. [ID:nN08423571]

Shares fell 1.1 percent to $44.51.

STEAK N SHAKE CO (SNS.N)

Shares gained 11 percent to $9.01 a day after the company said third-quarter customer traffic rose 13.4 percent and same-store sales increased 5 percent in an 8-K filing.

ARYX THERAPEUTICS INC (ARYX.O)

Shares plummeted 41 percent to $2.47 a day after it said data from a mid-stage study of its anticoagulant agent failed to meet the main goal. [ID:nBNG513906]

CISCO SYSTEMS INC (CSCO.O)

The company named Ned Hooper chief strategy officer. Hooper was previously the head of the company's consumer business. [ID:nN08373340]

Shares of the Dow component fell 1.6 percent to $17.94.

LAS VEGAS SANDS (LVS.N)

The casino firm is looking to raise $3-4 billion through various fund raising initiatives, including a possible IPO of its Macau assets in Hong Kong, Chairman and CEO Sheldon Adelson said on Wednesday. [ID:nSIN441766]

Shares fell 6.7 percent to $6.44.

GOLDMAN SACHS GROUP INC (GS.N)

MORGAN STANLEY (MS.N)

Sanford C Bernstein lowered its second-quarter view on the financial services companies, saying one-time events like mark-to-market losses, dilution from equity issuance and repayment of TARP money will hurt their earnings. [ID:nBNG404357]

Goldman shares slid 3.8 percent to $137.12 while Morgan Stanley dropped 2.6 percent to $25.48.

HESS CORP (HES.N)

The company didn't file a discovery notice with Brazil's government after drilling a well in the offshore Santos Basin, a company official said on Wednesday. [ID:nN08379918]

Shares of Hess fell 2.6 percent to $47.48.

NRG ENERGY INC (NRG.N)

EXELON CORP (EXC.N)

NRG rejected Exelon's sweetened hostile bid, saying the $6.9 billion offer was still too low. [ID:nN08368814]

Shares of NRG rose 4.3 percent to $23.02 while Exelon gained 1.1 percent to $48.27.

AT&T INC (T.N)

AT&T now expects its acquisition of Centennial Communications to be completed during the third quarter of 2009. [ID:nWNAB5251]

Shares of the Dow component fell 1.8 percent to $23.49.