By Elizabeth Campbell and Whitney Kisling
Nov. 19 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading today. Stock symbols are in parentheses, and share prices are as of 7:50 a.m. in New York, unless otherwise specified.
Eagle Materials Inc. (EXP US): The maker of gypsum wallboard reduced its quarterly dividend by 50 percent to 10 cents a share, citing the need ``to increase financial flexibility during these times of economic uncertainty.'' The stock rose 1.4 percent to $18.53 in regular trading yesterday.
KLA-Tencor Corp. (KLAC US): The second-largest U.S. maker of semiconductor equipment said it plans to cut about 15 percent of its workforce as customers curb orders. The stock lost 3.2 percent to $16.81 in regular trading yesterday.
La-Z-Boy Inc. (LZB US): The maker of living-room recliners withdrew the latest full-year earnings forecast, cut the quarterly dividend in half and announced plans to reduce 10 percent of the workforce. The stock jumped 11 percent to $4.95 in regular trading yesterday.
LDK Solar Co. American depositary receipts (LDK US) added 8.8 percent to $16.20. The Chinese maker of silicon wafers used in solar cells said third-quarter profit more than doubled, beating analyst estimates, on higher production and sales. The company also increased its forecast for expanding capacity by 100 megawatts to 2,300 megawatts next year.
Phoenix Cos. (PNX US): The insurer and money manager catering to wealthy clients said it applied for U.S. aid under the Treasury's Troubled Asset Relief Program and is considering acquiring a lender as part of the process. The stock fell 2.3 percent to $3.04 in regular trading yesterday.
Research in Motion Ltd. (RIMM US) rose 1.6 percent to $48. The maker of the BlackBerry e-mail phone was added to the ``conviction buy'' list at Goldman Sachs Group Inc., which cited the shares ``compelling valuation'' and the start of BlackBerry Storm sales on Nov. 21.
Royal Caribbean Cruises Ltd. (RCL US) fell 1.3 percent to $9.38. The world's second-biggest cruise operator said it will stop paying its quarterly dividend of 15 cents a share to save cash.
Sunoco Inc. (SUN US) declined 2.8 percent to $36.97. The largest refiner in the U.S. Northeast was cut to ``sell'' from ``hold'' at Deutsche Bank AG, which said crude prices will be affected by a combination of ``poor demand'' and ``major'' new refining capacity additions.
TiVo Inc. (TIVO US): The pioneer of digital video recorders said it will cut jobs to reduce expenses. The stock rose 1 percent to $6.07 in regular trading yesterday.
To contact the reporters on this story: Elizabeth Campbell in New York at ecampbell11@bloomberg.net; Whitney Kisling in New York at wkisling@bloomberg.net
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