Thursday July 2, 07:56 PM
HEADLINE STOCKS-Some U.S. stocks on the move on July 2
NEW YORK, July 2 (Reuters) - Some U.S. stocks on the move on Friday:
ELAN CORP
JOHNSON & JOHNSON
J&J will take over most of Elan (Dublin: DRX.IR - news) 's Alzheimer's research and invest $1 billion in new Elan equity in exchange for an 18.4 percent stake in the drugmaker.
U.S.-listed shares of Elan surged 13 percent to $7.94 while J&J, a Dow component, was down 1.5 percent to $56.19.
EXELON CORP (NYSE: EXC - news)
NRG ENERGY INC (NYSE: NRG - news)
Exelon raised its hostile takeover bid for NRG to $7.45 billion, citing newly identified cost savings and NRG's recent acquisition of Reliant Energy (NYSE: RRI - news) 's retail business.
Shares of Exelon fell 4.1 percent to $49.45 while NRG fell 5.1 percent to $24.73 after rising in premarket.
BOEING CO (NYSE: BA - news)
The planemaker delivered 125 commercial aircraft during its second quarter, down one delivery from the year-ago period.
Shares of the Dow component sank 2.9 percent to $41.
CARNIVAL CORP (NYSE: CCL - news) & PLC
The cruise ship operator said it was offering up to 25 million newly-issued common shares listed on the London Stock Exchange (LSE: LSE.L - news) .
Shares fell 3.8 percent to $25.27 on the New York Stock Exchange.
FCSTONE GROUP INC
INTERNATIONAL ASSETS HOLDING CORP
International Assets agreed to buy FCStone in an all-stock deal valued at about $130 million.
Shares of FCStone fell 4.1 percent to $3.97 while International Assets fell 12 percent to $13.84.
TIVO INC (TIVO - news)
Shares of the company fell 14 percent to $9.22 a day after EchoStar Corp and DISH Network Corp won a temporary stay to avoid disabling millions of digital video recorders said to infringe TiVo's technology.
COEUR D'ALENE MINES CORP (NYSE: CDE - news)
The company said it lowered its convertible debt by 37 percent in the first half of 2009, trimming the debt through a series of privately negotiated deals.
Shares fell 4.1 percent to $12.41 on the New York Stock Exchange.
WALGREEN CO (NYSE: WAG - news)
RITE AID CORP (NYSE: RAD - news)
The companies reported their June sales data. Walgreen same-store sales rose 3.4 percent, while comparable sales at Rite Aid fell 0.6 percent in the month.
Walgreen shares fell 1.3 percent to $28.97 while Rite Aid shares dropped 9.7 percent to $1.39.
XILINX INC
The chip maker lowered its quarterly sales outlook, citing supply constraints on some Virtex-5 devices.
Shares were flat at $20.57 after falling to a session low of $19.66 in early trading.
U.S. BANCORP
The bank is eyeing expansion in the western United States, as it prepares to soon extinguish the government warrants to buy its stock, Chief Executive Richard Davis said.
Shares fell 1.5 percent to $17.32.
UNITEDHEALTH GROUP (NYSE: UNH - news)
A U.S. federal judge granted UnitedHealth final approval for the settlement of a 2007 shareholder lawsuit related to past stock options practices, court documents show.
Shares fell 4.4 percent to $24.06.
ACURA PHARMACEUTICALS INC
KING PHARMACEUTICALS INC (NYSE: KG - news)
The Food and Drug Administration denied approval to Acura's and King's pain drug Acurox, raising questions on the potential abuse deterrent benefits of the drug.
Shares of Acura edged 0.2 percent lower to $5.90 while King was down 2.2 percent to $9.60. Keywords: MARKETS STOCKS HEADLINES
FLAGSTONE REINSURANCE LIMITED
IPC RE
VALIDUS HOLDINGS LTD
Flagstone late Wednesday made a $1.88 billion competing offer for IPC (I12.SI - news) , a reinsurance company fending off an unsolicited bid from Validus.
Shares of Flagstone sank 9.9 percent to $9.60 while IPC gained 1.8 percent to $28.27 and Validus rose 0.3 percent to $22.42.
LEAR CORP
The auto seating supplier late Wednesday said it would file for Chapter 11 in a reorganization supported by key secured lenders and bondholders. It also said it had obtained $500 million in bankruptcy financing.
Shares fell 37 percent to 30 cents on the pink sheets.
WELLS FARGO & CO
KBW (NYSE: KBW - news) wrote that the bank could post strong second-quarter results, driven by continued high mortgage revenue. The firm raised its second-quarter and full-year earnings estimate on the company.
Wells Fargo shares fell 2.8 percent to $23.46.
PHILIP MORRIS INTERNATIONAL INC
Swedish Match agreed to sell its South African operations to Philip Morris for $224.7 million.
Shares of Philip Morris fell 1.4 percent to $43.47.
MSCI INC
The company reported a rise in its second-quarter earnings but warned that its client retention rate remained under pressure.
Shares rose 3.3 percent to $24.86.
MSC INDUSTRIAL DIRECT CO INC
The company reported its third-quarter results and gave a fourth-quarter outlook.
Shares rose 1 percent to $36.62.
MANHATTAN ASSOCIATES INC
The company cut its second-quarter earnings outlook to below expectations.
Shares sank 9.1 percent to $16.60.
SUCAMPO PHARMACEUTICALS INC
The company reported promising top-line results from a mid-stage study of its experimental ulcer drug, cobiprostone.
Shares fell 8.6 percent to $5.76.
ILLUMINA INC
The life sciences tools maker reported lower-than-expected second-quarter revenue and cut its 2009 revenue outlook.
Shares fell 12 percent to $33.75.
DISCOVERY LABORATORIES INC (DSCO - news)
The company's lung drug, surfaxin, is not likely to get approval in the near term as regulators have applied a newly defined standard.
Shares of the company plummeted 51 percent to 51 cents.
DEMANDTEC INC
The software company posted better-than-expected first-quarter results but lowered its fiscal 2010 revenue growth forecast.
Shares fell 10 percent to $8.
(Reporting by Ryan Vlastelica, Editing by Kenneth Barry) Keywords: MARKETS STOCKS HEADLINES . Keywords: MARKETS STOCKS HEADLINES . Keywords: MARKETS STOCKS HEADLINES . Keywords: MARKETS STOCKS HEADLINES
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