(Updates to regular trading)
NEW YORK, Sept 29 (Reuters) - U.S. stocks on the move on
Monday:
WACHOVIA CORP WB.N
CITIGROUP INC (C.N)
Citigroup said it would buy the banking operations of
Wachovia, as the global credit crisis felled another top-tier
U.S. financial institution.
Shares of Citigroup rose 3.67 percent to $20.89, while
Wachovia's shares fell more than 90 percent to 91 cents.
APPLE (AAPL.O)
At least two brokerages downgraded their ratings on Apple
Inc (AAPL.O), citing tough spending environment.
Apple shares fell 14.4 percent to $109.81.
AMERICAN INTERNATIONAL GROUP (AIG.N)
The insurer bailed out by the U.S. Federal Reserve earlier
this month, is looking to sell more than 15 businesses, to
repay its $85 billion government loan, the Financial Times said
on Sunday.
AIG shares fell 4.44 percent to at $3.01.
WALGREEN CO (WAG.N)
Walgreen posted a quarterly profit on Monday that fell
short of Wall Street expectations and said it was still
committed to an unsolicited bid for Longs Drugs Stores Corp
LDG.N.
Shares fell 5 percent to $31.08.
CIRCUIT CITY STORES CC.N
Electronics retailer posted a wider quarterly loss and
withdrew its financial outlook as it reviews its business
ahead of the key holiday shopping season.
Shares fell 9.5 percent to $1.24.
NATIONAL CITY CORP NCC.N
SOVEREIGN BANCORP SOV.N
FIFTH THIRD (FITB.O)
REGIONS FINANCIAL (RF.N)
Shares of National City and other regional banks dropped
dropped sharply Monday as investors wondered who else might
need a merger partner as the sector suffered what analysts
called a deepening crisis of confidence.
National City shares fell 43.7 percent to $2.09, Sovereign
Bancorp shares dropped 31.2 percent to $5.77, Fifth Third
Bancorp (FITB.O) fell 24.4 percent to $12.21 and Regions
Financial shares fell 20.1 percent to $11.18.
DELIAS INC (DLIA.O)
Athletic shoe and clothing chain Foot Locker Inc (FL.N)
said on Monday it plans to buy Delias' CCS business for $102
million, as it seeks to boost its appeal with teenage
skateboarders.
Delias shares rose 20 percent to $3.
DISH NETWORK CORP (DISH.O)
Dish Network's shares fell 14.5 percent to $20.98 on Monday
after phone company AT&T Inc (T.N) said it would end a
marketing agreement with the satellite company next year.
COLUMBIA LABORATORIES INC (CBRX.O)
Columbia Labs said its experimental treatment for painful
menstruation failed to meet the main goal in a mid-stage
trial.
Shares fell 29 percent to $2.46.
CAL-MAINE FOODS INC (CALM.O)
Cal-Maine, which produces and sells fresh shell eggs,
posted a 38 percent drop in quarterly profit as feed costs
rose.
Shares fell 21.5 percent to $29.76.
(Wall Street newsdesk; Editing by Theodore d'Afflisio)
