Economic Calendar

Thursday, July 31, 2008

Consol, Exxon, Hologic, ImClone, Symantec: U.S. Equity Movers

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By Jeff Kearns

July 31 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 9:40 a.m. in New York.

Akamai Technologies Inc. (AKAM US) fell 19 percent to $25.21, the biggest decline since April 2003. The largest supplier of software and services to speed up the delivery of Web pages said on a conference call that it anticipates annual adjusted net income in a range of $1.63 to $1.69 a share, down from an earlier forecast of $1.68 to $1.71.

Cadence Pharmaceuticals Inc. (CADX US) rose 67 percent to $10.75, the steepest gain since its initial public offering in October 2006. The maker of drugs for hospitals said it successfully completed two clinical trials for its Acetavance drug, an intravenous acetaminophen treatment for pain, according to a statement distributed by PR Newswire. The U.S. Food and Drug Administration said the trials were sufficient for the company to apply for a new drug application, Cadence said.

Consol Energy Inc. (CNX US) lost 12 percent to $77.61, the lowest price since April 11. The second-biggest U.S. coal producer by market value said second-quarter profit fell 34 percent on rising fuel and labor costs.

Exxon Mobil Corp. (XOM US) fell 2.9 percent, the most in more than two weeks, to $81.95. The world's biggest energy company said per-share profit excluding costs related to a legal ruling was 26 cents lower than the average of 12 analyst estimates compiled by Bloomberg.

Hologic Inc. (HOLX US) had its biggest decline since May 1, falling 15 percent to $19.45. The medical equipment maker that acquired Third-Wave Technologies last week had its ratings lowered to ``hold'' from ``buy'' at Jefferies Group Inc. and to ``neutral'' from ``buy'' at Merrill Lynch & Co.

ImClone Systems Inc. (IMCL US) surged 38 percent, the most since May 1995, to $64.08. Bristol-Myers Squibb. Co. offered to buy the portion of ImClone it doesn't already own for $60 a share. Bristol-Myers delivered the offer to ImClone Chairman Carl C. Icahn today, ImClone said in a regulatory filing.

MasterCard Inc. (MA US) lost 11 percent to $241.38, the steepest decline since it went public in May 2006. The world's second-biggest credit-card company posted a $746.7 million loss on costs to settle an antitrust lawsuit with American Express Co.

Motorola Inc. (MOT US) rose the most since Feb. 1, advancing 7.8 percent to $8.28. The largest U.S. mobile-phone maker posted an unexpected second-quarter profit on job cuts and sales that beat estimates.

Schering-Plough Corp. (SGP US) advanced for a third day, jumping 4.8 percent to $21.01. The drugmaker was upgraded to ``buy'' from ``neutral'' by analysts at Merrill Lynch & Co., who said ``we expect two potential blockbusters to be approved over the next year.'' This ``suggests a better near-term pipeline outlook for Schering-Plough than any other U.S. major pharma,'' Merrill said.

Shire Plc American depositary receipts (SHPGY US) climbed the most since April 23, gaining 6.1 percent to $49.165. The U.K.'s third-largest drugmaker reported a narrower second- quarter loss as sales of the Adderall XR hyperactivity treatment beat analysts' estimates.

Symantec Corp. (SYMC US) rose the most since May 1, advancing 7.6 percent to $21.18. The world's biggest maker of security software said first-quarter profit almost doubled and gave a forecast that beat analysts' estimates as international customers added programs to store and protect data.

Wyndham Worldwide Corp. (WYN US) advanced for the second time this week, gaining 2.2 percent to $17.87. The franchiser of Ramada and Super 8 hotels said second-quarter profit rose on international hotel earnings. Net income advanced to 55 cents a share from 52 cents a year earlier, the company said in a PR Newswire statement.

To contact the reporter on this story: Jeff Kearns in New York at jkearns3@bloomberg.net.


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