By Lu Wang
Nov. 7 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading today. Stock symbols are in parentheses, and share prices are as of 10:15 a.m. in New York.
AES Corp. (AES US) climbed 13 percent to $7.48 and rose 14 percent for the biggest intraday gain this month. The U.S. power producer with operations in more than two dozen countries was boosted to ``neutral'' from ``underperform'' by Merrill Lynch & Co.
American Insurance Group Inc. (AIG US) jumped 13 percent to $2.12 and earlier gained 19 percent for the biggest intraday climb in a week. The company, which must sell assets to repay its government loan, will reach agreement to sell its personal lines and an equipment insurance unit by the end of the year, Reuters reported, citing a person familiar with the matter.
AutoNation Inc. (AN US) climbed 17 percent to $6.73 for the third-biggest gain in the Standard & Poor's 500 Index. The largest publicly traded U.S. auto retailer was raised to ``neutral'' from ``sell'' by Goldman Sachs Group Inc.
Sonic Automotive Inc. (SAH US) lost 6.5 percent to $4.32. Goldman reduced the auto retailer to ``neutral'' from ``buy.''
CB Richard Ellis Group Inc. (CBG US) rose the most in the Standard & Poor's 500 Index, rallying 26 percent to $7.12. The largest commercial real estate broker said third-quarter profit excluding items was 27 cents a share. That exceeded the average analyst estimate by 16 percent, according to a Bloomberg survey.
Delta Petroleum Corp. (DPTR US) tumbled 30 percent to $4.68 and dropped 41 percent earlier for the biggest retreat since July 2002. Kirk Kerkorian's Tracinda Corp. said it won't proceed with plans to expand its stake in the unprofitable Colorado oil and natural-gas producer. Deutsche Bank AG cut the stock's rating to ``sell'' from ``hold.''
Fidelity National Financial Inc. (FNF US) advanced 24 percent to $10.35 and surged 29 percent earlier for the biggest intraday gain since October 2005. The second-biggest U.S. title insurer will buy No. 3 LandAmerica Financial Group Inc. (LFG US) for about $128 million to cut costs as the industry struggles with the housing slump.
LandAmerica soared 87 percent to $8.86.
Fluor Corp. (FLR US) rose 19 percent to $40.63 and earlier climbed 22 percent for the biggest intraday gain since December 2000. The largest publicly traded U.S. engineering firm said third-quarter profit climbed 95 percent, beating analysts' average estimate, as it won contracts to modernize a refinery in Indiana and help design a solar-panel plant in Singapore.
Fuel Systems Solutions Inc. (FSYS US) increased 35 percent to $36.18 and rallied 39 percent earlier for the biggest jump since October 2002. The company whose devices allow internal- combustion engines to run on alternative fuels increased its full-year revenue forecast to $385 million. That surpasses the average analyst estimate by 4.3 percent, according to Bloomberg data.
Genworth Financial Inc. (GNW US) fell the most in the S&P 500, losing 31 percent to $3.25. The insurer spun off by General Electric Co. (GE US) reported a third-quarter loss and suspended its dividend as the housing slump spurred an increase in mortgage-insurance claims and hurt investments.
Nvidia Corp. (NVDA US) rose 15 percent to $8.76 and earlier climbed 17 percent for the biggest jump since Oct. 13. The second-largest maker of computer-graphics chips reported third- quarter profit and revenue that beat analysts' estimates after job cuts and a new contract with Apple Inc. (AAPL US) helped cushion the impact of the economic slowdown.
OSI Pharmaceuticals Inc. (OSIP US) gained 15 percent to $40.56 and jumped 18 percent earlier for the biggest intraday advance since December 2004. A study found that the drug Tarceva helped slow the progress of lung cancer when given immediately after chemotherapy. OSI markets the drug in the U.S.
Sprint Nextel Corp. (S US) lost 8.4 percent to $3.37 and fell earlier to $3.26, the lowest in a week. The third-largest U.S. mobile-phone company reported a fourth straight loss as its customers switched to rival carriers. The company renegotiated its credit agreements to avoid the risk of default.
Walt Disney Co. (DIS US) declined the most in the Dow Jones Industrial Average, slipping 3.4 percent to $22.04. The world's biggest theme-park operator said fourth-quarter profit fell 13 percent, hurt by a decline in resort earnings and losses from the bankruptcy of Lehman Brothers Holdings Inc. Excluding one-time items, profit of 43 cents missed the 49-cent average of analysts' estimates compiled by Bloomberg.
Wells Fargo & Co. (WFC US) lost 4.1 percent to $27.59 and earlier fell to $27.05, the lowest price since Oct. 10. The biggest bank on the U.S. West Coast raised $11 billion in a stock sale to help pay for its purchase of Wachovia Corp. The company sold 407.5 million shares for $27 each, 6.2 percent below yesterday's closing price of $28.77.
Yahoo! Inc. (YHOO US) slid 15 percent to $11.92 and earlier slumped 17 percent for the biggest retreat since May 5. Microsoft Corp. (MSFT US) said it is still not interested in acquiring the second-biggest U.S. seller of online advertisements after Yahoo Chief Executive Officer Jerry Yang said the Internet company is willing to sell. Microsoft added 1.5 percent to $21.20.
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net
Last Updated: November 7, 2008 10:45 EST
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