Morgan Stanley, Qwest, Waste Management: U.S. Equity Movers

By Whitney Kisling and Elizabeth Campbell

Oct. 13 (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.

Financial stocks rallied after the Federal Reserve led an unprecedented effort by central banks worldwide to provide unlimited dollar funds to support government efforts to restore confidence to banks.

Bank of America Corp. (BAC US) climbed 9.4 percent to $22.84. National City Corp. (NCC US) gained 6 percent to $2.12. Keycorp (KEY US) rose 7.4 percent to $7.29. Citigroup Inc. (C US) increased 6.4 percent to $15.01. Merrill Lynch & Co. (MER US) rose 6.7 percent to $16.80.

Metal producers climbed as government pledges of support for the banking system eased fears a global economic slump would curb demand. ArcelorMittal (MT US) gained 19 percent to $34.74. AK Steel Holding Corp. (AKS US) rose 14 percent to $12.54. U.S. Steel Corp. (X US) advanced 5 percent to $46.82.

American International Group Inc. (AIG US) rose 13 percent to $2.63. The insurance company bailed out by the U.S. government may get a bid for its Philippine unit from SM Investments Corp. and its unit Banco de Oro Unibank. A foreign partner may join in on the bid, SM Investment Chief Financial Officer Jose Sio said in a statement.

Apple Inc. (AAPL US) rose 6.7 percent to $103.26 and earlier climbed to $106, the highest price in a week. The maker of iPods, iPhones and Macintosh computers was raised to ``outperform'' from ``market perform'' by Sanford C. Bernstein & Co.'s Toni Sacconaghi, the top-ranked computer analyst by Institutional Investor magazine. The risk-reward balance at Apple is ``compelling'' and the shares are ``overly discounted,'' Sacconaghi said.

Fastenal Co. (FAST US) gained 4.8 percent to $39 and earlier rose as much as 8.3 percent for the biggest intraday jump since Jan. 22. The largest U.S. retailer of nuts and bolts reported third-quarter earnings of 52 cents a share, excluding a charge for a legal settlement. Analysts surveyed by Bloomberg had an average estimate for earnings of 50 cents a share.

Ford Motor Co. (F US) climbed 18 percent to $2.34 and earlier surged as much as 50 percent for the biggest gain since at least 1980. The second-largest U.S. automaker is considering selling its controlling stake in Japan's Mazda Motor Corp., a person familiar with the matter said. Separately, Chief Financial Officer Don Leclair stepped down and will be replaced by the top executive in Ford's European division.

Infineon Technologies AG American depositary receipts (IFX US) rose 13 percent to $4.13. Qimonda AG (QI US) will receive $400 million in cash from Micron Technology Inc. (MU US), the largest U.S. memory-chip maker that has agreed to buy Qimonda's 35.6 percent stake in Inotera Memories Inc. Infineon is the majority owner of Qimonda.

Morgan Stanley (MS US) rose 45 percent to $14.08 and earlier surged 66 percent for its biggest intraday gain since at least 1993. The U.S. investment bank sealed its $9 billion investment from Mitsubishi UFJ Financial Group Inc. after renegotiating the terms.

New York & Co. (NWY US) slumped 34 percent to $4.77 for the biggest intraday loss since its initial public offering four years ago. The women's clothing retailer said it expects a loss of as much as 12 cents a share in the third quarter as sales declined. Analysts, on average, anticipated earnings of 11 cents a share, according to a Bloomberg survey.

Qwest Communications International Inc. (Q US) surged 22 percent to $2.67 and earlier rose as much as 28 percent for the steepest rise since August 2002. The third-largest U.S. local phone company and its largest union reached a tentative contract agreement 10 days after workers rejected a previous offer. Qwest said the agreement with the Communications Workers of America and the International Brotherhood of Electrical Workers boosts pay by about 12.6 percent over four years.

Royal Philips Electronics NV (PHG US) fell 8.9 percent to $19.67, the lowest intraday price since July 2003. The world's largest maker of patient-monitoring system said third-quarter earnings before interest, tax and amortization at its health-care division fell to 10.9 percent of sales, trailing the 12.8 percent margin analysts had anticipated. Analysts had expected 12.8 percent.

Waste Management Inc. (WMI US) jumped 13 percent to $29 and earlier rose as much as 16 percent, the biggest intraday gain since May 2000. The largest U.S. trash hauler withdrew a $6.73 billion hostile takeover offer for Republic Services Inc. (RSG US), saying market conditions would make the acquisition too risky.

To contact the reporters on this story: Whitney Kisling in New York at wkisling@bloomberg.net; Elizabeth Campbell in New York at ecampbell11@bloomberg.net