By Eric Martin
Dec. 15 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading. Stock symbols are in parentheses and share prices are as of 8:45 a.m. in New York, unless otherwise specified.
ASML Holding NV (ASML US) gained 1.9 percent to $16.75. The Dutch maker of equipment for manufacturing semiconductors may double as the global economy recovers, Barron’s reported, without citing anyone. The company’s lithography scanners will be needed by chipmakers to produce the memory and processors in cellular phones and portable electronics, the newspaper said.
Exelon Corp. (EXC US): The largest U.S. utility owner by market value said it hasn’t made an offer to buy Reliant Energy Inc. (RRI US) and doesn’t plan to make one. Exelon’s statement today came after the Houston Business Journal reported on its Web site that Exelon made a bid to buy Reliant, citing a person inside Reliant.
Fidelity National Financial Inc. (FNF US): The second- largest U.S. title insurer will pay about $282 million in a revised deal for units from bankrupt competitor LandAmerica Financial Group Inc.
Gaylord Entertainment Co. (GET US) jumped 31 percent to $11.88. The owner of the Grand Ole Opry music hall may rise to $48 as its convention business grows and its price makes it a takeover target, Barron’s said, citing Gabelli & Co. analyst Ami Kapoor.
General Dynamics Corp. (GD US): The second-largest shipbuilder for the U.S. Navy won an order valued at $940.4 million to build two cargo ships.
General Motors Corp. (GM US) gained 4.6 percent to $4.12. President George W. Bush said deliberations by his administration on whether to tap a bank bailout fund to keep GM and Chrysler LLC out of bankruptcy “won’t be a long process” because of the “fragility” of the U.S. automakers.
Ford Motor Co. (F US) rose 4.6 percent to $3.18.
Google Inc. (GOOG US) fell 0.4 percent to $314.40. The company had its earnings estimates and share-price forecast cut at ThinkEquity LLC, which said the Internet-search market is slowing faster than anticipated.
Huntsman Corp. (HUN US) plunged 26 percent to $4.31. Apollo Management LP, the private-equity firm run by Leon Black, agreed to pay $700 million to Huntsman to terminate an acquisition of the chemical maker by its Hexion Specialty Chemicals Inc. unit.
International Paper Co. (IP US): The world’s largest maker of office paper and corrugated packaging plans to reduce its global workforce by as much as 2.3 percent by the end of 2009.
JPMorgan Chase & Co. (JPM US) lost 3.7 percent to $29.80. The biggest U.S. bank by assets was cut to “underperform” from “neutral” by Merrill Lynch & Co. analyst Guy Moszkowski, who said the firm may post a fourth-quarter loss and a $2.8 billion writedown.
Kroger Co. (KR US): The biggest U.S. grocery chain was downgraded to “neutral” at Credit Suisse Group AG, which said “2009 is shaping up to be a more challenging year.”
Tellabs Inc. (TLAB US) climbed 16 percent to $4.59. The maker of telephone equipment for AT&T Inc. was raised to “overweight” from “equal weight” by Barclays Plc. Tellabs was also recommended by CNBC “Mad Money” host Jim Cramer.
Ciena Corp. (CIEN US), which also sells to AT&T, increased 8.5 percent to $6.65. Skyworks Solutions Inc. (SWKS US) climbed 12 percent to $4.41. Cramer also recommended their stocks.
To contact the reporter on this story: Eric Martin in New York at emartin21@bloomberg.net.
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