By Matt Townsend
June 16 (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.
Amgen Inc. (AMGN US) added 2.3 percent to $50.58. The world’s largest biotechnology company was boosted to “outperform” from “market perform” by Sanford C. Bernstein & Co., which said the stock “should benefit from a significant re-acceleration in revenue and earnings growth” over the next year.
AT&T Inc. (T US) lost 1.3 percent to $24.30. The largest U.S. phone company was cut to “equal weight” from “overweight” at Barclays Plc, as the brokerage also downgraded U.S. telecom services shares to “neutral.”
Bruker Corp. (BRKR US): The maker of scientific instruments and its shareholders plan to sell as many as 70 million shares in total, according to a regulatory filing.
Cummins Inc. (CMI US) added 0.7 percent to $34.27. The largest North American maker of diesel trucks was rated “buy” in new coverage by Goldman Sachs Group Inc., which said the company is “uniquely positioned” to benefit from increasing industrialization in Asia. Goldman’s 12-month share price estimate is $42.
Harman International Industries Inc. (HAR US): The audio- equipment maker plans to sell 9 million shares of common stock and use some of the proceeds to pay down debt, according to a regulatory filing.
La-Z-Boy Inc. (LZB US): The maker of living-room recliners posted earnings excluding some items of 7 cents a share in the fourth quarter. Raymond James Financial Inc. expected the company to report a loss.
Methanex Corp. (MEOH US): The world’s largest methanol supplier was reduced to “neutral” from “buy” at UBS AG, which cited the stock’s surge in past three months.
Research In Motion Ltd. (RIMM US) advanced 1.4 percent to $81.50. The maker of the BlackBerry smart phone unveiled a new model that operates globally, vying with Apple Inc.’s latest iPhone. The Tour 9630, which uses so-called 3G technology, will be sold in the U.S. through Verizon Wireless and Sprint Nextel Corp., the company said.
Tenneco Inc. (TEN US): The world’s largest maker of vehicle-exhaust systems was raised to “overweight” from “neutral” at JPMorgan Chase & Co., which said “global auto production has sequentially bottomed.”
Tyco Electronics Ltd. (TEL US) jumped 7.1 percent to $20.63. The world’s largest maker of electronic connectors boosted its third-quarter earnings forecast, saying it now expects profit excluding some items of at least 10 cents a share. That exceeded the average analyst estimate of 3 cents in a Bloomberg survey.
To contact the reporter on this story: Matt Townsend in New York at mtownsend9@bloomberg.net
Posts
No comments:
Post a Comment