By Lu Wang
Nov. 10 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading. Stock symbols are in parentheses, and prices are as of 10:15 a.m. in New York.
Infrastructure companies gained after China, the biggest contributor to world growth, announced a 4 trillion yuan ($586 billion) plan to sustain its economy.
General Electric Co. (GE US), whose products include power- plant turbines and locomotives, added 2.1 percent to $19.25. Caterpillar Inc. (CAT US), the world's largest maker of bulldozers and excavators, rose 4.6 percent to $40.22.
Allied Capital Corp. (ALD US) dropped 27 percent to $5.33 and tumbled 30 percent earlier for the biggest intraday decline since Oct. 3. The buyout and lending company reported third- quarter profit that missed analysts' average estimate and said it plans to cut dividends for 2009.
American Capital Ltd. (ACAS US) slid 28 percent to $9.93 and earlier plunged 34 percent for the biggest intraday loss since its 1997 initial public offering. The asset manager that invests in management buyouts said it will spend $158 million in stock to buy European Capital Ltd., a fund it spun off in October 2005. American Capital also said it would suspend its dividend for 2008.
American International Group Inc. (AIG US) rallied 20 percent to $2.54 for the biggest gain in the Standard & Poor's 500 Index. The insurer bailed out by the U.S. got an expanded government rescue package valued at more than $150 billion after recording a fourth straight quarterly loss.
Centennial Communications Corp. (CYCL US) more than doubled to $7.82, the biggest advance since its shares began trading in December 1991. AT&T Inc. (T US), fighting Verizon Wireless for control of the U.S. wireless market, agreed to buy Centennial for $944 million to add mobile-phone subscribers.
Circuit City Stores Inc. (CC US) plunged 56 percent to 11 cents before trading was halted. The electronics retailer filed for bankruptcy amid rising competition from Best Buy Co. (BBY US), Wal-Mart Stores Inc. (WMT US) and online retailers.
Dish Network Corp. (DISH US) dropped 11 percent to $13.87 and earlier slid to $13.80, the lowest level in a month. The nation's second-largest satellite-television provider posted third-quarter profit of 20 cents a share, missing the average analyst estimate by 65 percent, according to data compiled by Bloomberg. The company cited subscriber losses and securities impairment charges.
Ecolab Inc. (ECL US) fell 8.5 percent to $33.47 and dropped earlier to $32.72, the lowest level since November 2005. Henkel AG (HEN3 GY), the German maker of Persil detergent, plans to sell a stake of almost a third in the U.S. cleaning-chemicals company valued at $2.66 billion. Ecolab will spend at least $300 million to buy back shares from Henkel and will help to market an underwritten public sale of the remaining stock.
Force Protection Inc. (FRPT US) added 10 percent to $3.03 and earlier rose to $3.19, the highest price in a month. The maker of blast-resistant trucks reported third-quarter profit of 29 cents a share, beating the average analyst estimate of 11 cents, according to Bloomberg data. The company said it has developed a new flatbed cargo-transport truck and anticipates an order for as many as 100 of the new vehicles.
General Motors Corp. (GM US) fell the most in the Dow Jones Industrial Average, losing 30 percent to $3.05. The largest U.S. automaker was cut to ``underweight'' from ``equal weight'' at Barclays Plc, which said in any of the potential scenarios it has examined ``current GM equity has little value.'' GM also was lowered to ``sell'' from ``hold'' at Deutsche Bank AG, which set a share-price estimate of zero.
People's United Financial Inc. (PBCT US) added 6.6 percent to $17.74 and advanced earlier to $18.20, the highest level since Oct. 9. The bank holding company was picked to replace Unisys Corp. (UIS US) in the Standard & Poor's 500 Index. Unisys tumbled 15 percent to 77 cents.
Sterling Construction Co. (STRL US) gained 12 percent to $12.40 and earlier added 17 percent in the biggest intraday rise since Oct. 16. The company specializing in highway paving, bridge and sewer projects posted third-quarter profit, excluding some items, of 44 cents a share, beating the average analyst estimate of 36 cents, according to Bloomberg data.
TriMas Corp. (TRS US) dropped 18 percent to $2.46. The maker of trailer hitches and bicycle racks forecast full-year profit of 71 cents to 75 cents a share, less than its previous estimate of 85 cents to 95 cents.
Tyson Foods Inc. (TSN US) fell 13 percent to $6.50 and dropped 19 percent earlier for the biggest intraday loss since Oct. 28. The largest U.S.-based meat producer said fourth-quarter profit excluding some items was 14 cents a share. That missed the average analyst estimate by 24 percent, according Bloomberg data.
To contact the reporters on this story: Lu Wang in New York at lwang8@bloomberg.net
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