By Whitney Kisling
Dec. 2 (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 8 a.m. in New York.
Citigroup Inc. (C US) added 6.5 percent to $6.87. The second-biggest U.S. bank by assets plans to sell dollar- denominated debt guaranteed by the Federal Deposit Insurance Corp., according to a person familiar with the offering. Moody’s Investors Service and Standard & Poor’s will rank the bonds with their top investment-grade rating, the person said.
Medicis Pharmaceutical Corp. (MRX US) climbed 17 percent to $13. The maker of skin treatments reached an agreement that resolves a patent dispute and allows Impax Laboratories Inc. to license a generic version of the Solodyn acne drug.
Microsoft Corp. (MSFT US) rose 2.1 percent to $19. The software maker that got 9.5 percent of its revenue last year from its video-game system said unit sales of its Xbox 360 console rose 25 percent in the U.S. over Black Friday weekend from a year earlier.
Mosaic Co. (MOS US) lost 5 percent to $24.14. The world’s largest producer of phosphates said sales volumes of the crop nutrient dropped 38 percent in the quarter ended Nov. 30 because of “soft market conditions.”
Palm Inc. (PALM US) fell 12 percent to $1.66. The maker of the Treo and Centro mobile phones that’s lost 70 percent of its value this year was cut to “neutral” from “buy” at Merrill Lynch & Co. after reporting disappointing sales.
BlackBerry maker Research in Motion Ltd. (RIMM US) gained 2.8 percent to $40.90. IPhone maker Apple Inc. (AAPL US) added 1.5 percent to $90.28.
Tessera Technologies Inc. (TSRA US) plunged 43 percent to $9.50. The company lost a patent-infringement ruling in its bid to strike licensing agreements with Qualcomm Inc. (QCOM US) and other makers of chips for wireless devices.
To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net.
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