By Rita Nazareth
April 27 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 7:45 a.m. in New York.
Hotel, travel and airline shares dropped as the American government declared a public health emergency after an outbreak of swine flu spread beyond Mexico to Canada, Spain and five U.S. states.
Carnival Corp. (CCL US) slumped 8.5 percent to $26. Las Vegas Sands Corp. (LVS US) plunged 8.4 percent to $6.80. Marriott International Inc. (MAR US) declined 6.1 percent to $20.95. Host Hotels & Resorts Inc. (HST US) dropped 5.1 percent to $7.40. UAL Corp. (UAUA US) dropped 6.5 percent to $6.
Biotechnology companies which make flu vaccines surged.
BioCryst Pharmaceuticals Inc. (BCRX US) climbed 89 percent to $4.18. The drugmaker is working on an experimental flu vaccine that’s still in testing. Novavax Inc. (NVAX US) surged 129 percent to $3.25. The biotechnology company has an experimental vaccine that spurred an immune response in people to a deadly strain of bird flu, the H5N1 version.
Apple Inc. (AAPL US) fell 1.2 percent to $122.41. The maker of iPods and iPhones said it filed an amendment to correct the Form 10-Q it submitted to the Securities and Exchange Commission on April 23. As a result, Shareholder Proposal No. 5 Regarding Advisory Vote on Compensation, known as “Say on Pay,” was approved with a majority of votes cast.
Comerica Inc. (CMA US): The Dallas-based bank forecast fiscal 2009 credit-related chargeoffs of $650 million to $700 million. The company said its provision for credit losses exceeded chargeoffs by about $45 million.
Corning Inc. (GLW US) rose 0.7 percent to $15.43. The biggest maker of glass for flat-panel televisions posted first- quarter earnings that beat analysts’ estimates as demand for liquid-display TVs began to rebound. Profit excluding some items was 10 cents a share, double the consensus estimate of 5 cents.
CVS Caremark Corp. (CVS US) and Walgreen Co. (WAG US): The two largest U.S. drug-store chains are preparing stores for a possible rush on hygiene products and pharmaceuticals as swine flu spreads through North America.
CVS rose 0.6 percent to $29.90. Walgreen gained 3.1 percent to $30.50.
General Motors Corp. (GM US) rose 7.7 percent to $1.82. The automaker working to beat a June 1 U.S.-ordered bankruptcy deadline will kill the Pontiac brand and step up dealer shutdowns and job cuts to help persuade bondholders to slash debt in a bid to stave off a June 1 U.S.-backed bankruptcy, people familiar with the plan said.
Honeywell International Inc. (HON US): The biggest maker of airplane cockpit controls may report earnings at the low end of the forecast that it cut last week, Citigroup Inc. said, downgrading its rating on the stock to “hold” from “buy.”
Humana Inc. (HUM US) surged 5.1 percent to $28.75. The second-biggest provider of U.S.-backed medical benefits said 2009 earnings excluding some items will be at least $6.10 a share, beating the average analyst estimate of $5.92. Humana also said that first-quarter profit more than doubled as it raised prices and had fewer elderly customers whose prescriptions dragged down earnings last year.
Life Time Fitness Inc. (LTM US): The operator of 83 fitness and spa centers in the U.S. said Michael J. Gerend, president and chief operating officer, will leave the company, effective May 1.
Netflix Inc. (NFLX US) rose 0.7 percent to $43.03. The largest U.S. mail-order movie service was raised to “buy” from “hold” at Citigroup Inc., which said the company has one of the best earnings outlooks among Internet stocks.
Plumas Bancorp (PLBC US): The Quincy, California-based bank holding company suspended its dividend after posting a first- quarter loss of 29 cents a share.
Tyson Foods Inc. (TSN US): JPMorgan Chase & Co. cut earnings estimates for the largest U.S.-based meat producer, and Smithfield Foods Inc. (SFD US), the world’s biggest pork processor, “in part because of swine flu concerns.”
Smithfield Foods fell 5 percent to $9.80.
Whirlpool Corp. (WHR US): The world’s largest appliance maker said first-quarter profit excluding some items was $1.02 a share, beating the average analyst estimate for a loss of 18 cents.
Whole Foods Market Inc. (WFMI US): The largest natural-food grocer was cut to “sell” from “neutral” at UBS AG, which said the stock is expensive and consumer spending will continue to weigh on sales and hamper any meaningful recovery.
To contact the reporter on this story: Rita Nazareth in New York at rnazareth@bloomberg.net.
Posts
No comments:
Post a Comment