• Most Popular
  • Most Shared

HEADLINE STOCKS-Some U.S. stocks on the move on July 9

Thu Jul 9, 2009 1:42pm EDT

Stocks

   

(Updates to afternoon trading, adds Helen of Troy, 3Com, YRC Worldwide, SunTrust, KB Home, IBM, Equifax and TiVo/Best Buy. Updates Merck, Broadcom/Emulex)

NEW YORK, July 9 (Reuters) - Some U.S. stocks on the move on Thursday:

ALCOA INC (AA.N)

The aluminum company late Wednesday reported a second-quarter loss that was narrower than expected, helped by cost-cutting measures. [ID:nN08471164]

Shares of the Dow component gained 0.2 percent to $9.48.

MERCK & CO (MRK.N)

Shares of the Dow component sank 3.7 percent to $26.99. The stock was pressured amid speculation its Zetia cholesterol medicine fared poorly in a clinical trial comparing it with Abbott Laboratories' (ABT.N) Niaspan.

CITIGROUP INC (C.N)

The company announced a number of management changes, including the departure of Gary Crittenden, the chairman of Citi Holdings, from the company. [ID:nN09445304]

Shares rose 1.5 percent to $2.66.

TIVO INC (TIVO.O)

BEST BUY CO (BBY.N)

TiVo announced a marketing alliance with Best Buy and will consider putting its television recording technology into Best Buy's own brand of TVs and electronics. [ID:nN09458153]

Shares of TiVo rose 2 percent to $8.77 while Best Buy rose 2.3 percent to $32.95.

YRC WORLDWIDE INC (YRCW.O)

The trucking company reached a tentative deal with the Teamsters union on a modified labor contract that will help cut costs and preserve operating capital. [ID:nN09453768]

Shares advanced 98 percent to $1.76.

EQUIFAX INC (EFX.N)

The company's TALX unit has settled civil charges that it failed to make required disclosures and agreed to pay a $350,000 penalty, the FTC said. [ID:nN09450400]

Shares rose 1 percent to $25.55.

BROADCOM CORP (BRCM.O)

EMULEX CORP (ELX.N)

QLOGIC CORP (QLGC.O)

Broadcom withdrew its $912 million buyout offer for Emulex after Emulex rejected the offer, saying it significantly undervalued the company's long-term prospects.

Analysts have said that Broadcom could buy a different company, such as QLogic Corp (QLGC.O). [ID:nN09442370]

Shares of Emulex shed 8.4 percent to $8.88 while Broadcom gained 5.1 percent to $24.53 and QLogic gained 2.8 percent to $12.53.

EMC CORP (EMC.N)

DATA DOMAIN INC DDUP.O

NETAPP INC (NTAP.O)

EMC late Wednesday won the bidding war for Data Domain after rival NetApp Inc (NTAP.O) pulled out, saying it wouldn't match EMC's $2.4 billion bid. [ID:nN08407594]

EMC shares rose 1.6 percent to $12.72 while Data Domain fell 1.4 percent to $33.43 and NetApp rose 3 percent to $18.94.

IPC HOLDINGS LTD IPCR.O

VALIDUS HOLDINGS LTD (VR.N)

FLAGSTONE REINSURANCE HOLDINGS LTD (FSR.N)

IPC has accepted a sweetened $1.65 billion takeover offer from Validus, which beat out Flagstone Reinsurance Holdings Ltd (FSR.N) in a bidding war. [ID:nN09436999]

Shares of IPC rose 0.5 percent at $27.75 while Validus sank 3.5 percent to $21.80 and Flagstone surged 6.3 percent to $10.34.

MAP PHARMACEUTICALS INC (MAPP.O)

ASTRAZENECA (AZN.N)

MAP Pharma plans to suspend development of its experimental pediatric asthma drug after its licensing partner AstraZeneca terminated a collaboration on the drug. [ID:nBNG491512]

Shares of MAP fell 3.2 percent to $10.71 while AstraZeneca shares were up 1 percent to $43.74 on the New York Stock Exchange.

3COM CORP (COMS.O)

The company reported fourth-quarter earnings that beat expectations but forecast first-quarter results below expectations. [ID:nBNG420820]

Shares fell 8.5 percent to $4.29.

HELEN OF TROY LTD (HELE.O)

The company reported first-quarter earnings that beat expectations, helped by strong sales from its housewares segment. [ID:nBNG495550]

Shares gained 8.9 percent to $19.69.

FCSTONE GROUP INC FCSX.O

The company reported adjusted third-quarter earnings that were above expectations. [ID:nBNG313029]

Shares gained 9.73 percent to $4.19.



More from Reuters

Photo

Obama heads to Copenhagen as climate talks falter

WASHINGTON (Reuters) - President Barack Obama heads to Copenhagen on Thursday to help secure a U.N. climate pact, staking his credibility on an as yet elusive deal that has ramifications for him at home and on the world stage.

Marine from Delta Company of 2nd Light Armored Reconnaissance Battalion patrols near the town of Khan Neshin in Rig district of Helmand province, southern Afghanistan September 10, 2009. REUTERS/Goran Tomasevic

A bloody fight looms

Marines on the frontlines of the Afghan surge in Helmand Province are ramping up for a battle that their commander says will be the "end of the line" for insurgents.  Full Article 

  The tail section of the turboprop MQ-9 Predator B drone is seen on the tarmac at Fort Huachuca, Arizona, December 5, 2006.

Just don't say the D-word

In the high-testosterone world of military jets, the words "drone" and "unmanned aerial vehicle" don't fly. Now there's a new term in town.  Full Article