By Elizabeth Campbell and Whitney Kisling
Nov. 10 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading. Stock symbols are in parentheses, and prices are as of 8:40 a.m. in New York.
Infrastructure companies gained after China, the biggest contributor to world growth, announced a 4 trillion yuan ($586 billion) plan to sustain its economy.
General Electric Co. (GE US), whose products include power- plant turbines and locomotives, added 2.8 percent to $19.38. Caterpillar Inc. (CAT US), the world's largest maker of bulldozers and excavators, added 4.8 percent to $40.28.
American Capital Strategies Ltd. (ACAS US) slid 16 percent to $11.54. The asset manager that invests in management buyouts said it will spend $158 million in stock to buy European Capital Ltd., a fund it spun off in October 2005.
American Electric Power Co. (AEP US): The biggest U.S. producer of power from coal reduced its forecast for 2009 profit because of pending rate cases in Ohio and the slowing economy.
American International Group Inc. (AIG US) rallied 43 percent to $3.01. The insurer bailed out by the U.S. got an expanded government rescue package valued at more than $150 billion after recording a fourth straight quarterly loss.
Ballard Power Systems Inc. (BLDP US) lost 24 percent to $2.05. The fuel cell maker reported a third-quarter loss excluding some items of 19 cents a share, worse than the 14-cent loss analysts estimated on average in a Bloomberg survey.
Centennial Communications Corp. (CYCL US) rose $3.94, or more than double, to $7.79. AT&T Inc. (T US), fighting Verizon Wireless for control of the U.S. wireless market, agreed to buy Centennial for $944 million to add mobile-phone subscribers.
Circuit City Stores Inc. (CC US) plunged 60 percent to 10 cents. The electronics retailer filed for bankruptcy amid rising competition from Best Buy Co. (BBY US), Wal-Mart Stores Inc. (WMT US) and online retailers.
MBIA Inc. (MBI US) fell 12 percent to $6.99. The company's bond insurance rating was cut two levels by Moody's Investors Service because of disruptions in the industry and the potential for more mortgage-related losses.
Nortel Networks Corp. (NT US) declined 6 percent to $1.10. North America's largest maker of phone equipment posted its biggest net loss in seven years and announced plans to cut 1,300 jobs as customers scale back budgets.
People's United Financial Inc. (PBCT US) added 11 percent to $18.45. The bank holding company was picked to replace Unisys Corp. (UIS US) in the Standard & Poor's 500 Index.
Raymond James Financial Inc. (RJF US) declined 1.8 percent to $19.26. The firm may fall 20 percent as the slowing economy cuts the value of its business loans and home mortgages, Barron's reported, citing Douglas Sipkin, an analyst at Wachovia Corp.
Republic Bancorp Inc. (RBCAA US) fell 2.5 percent to $23.03. The banking company shares may decline 36 percent or more as the risks associated with payday and tax-refund loans rise and profit from traditional banking services slip, Barron's reported, without citing anyone.
Sotheby's (BID US): The company said its third-quarter loss more than doubled to $46.2 million and pledged that it will cut costs and auction guarantees to adapt to a softening art market.
USG Corp. (USG US) added 4.2 percent to $28.34. North America's largest maker of gypsum wallboard plans to cut 900 jobs, or 20 percent of its salaried positions, because of ``continued adverse market conditions.''
To contact the reporters on this story: Elizabeth Campbell in New York at ecampbell11@bloomberg.net; Whitney Kisling in New York at wkisling@bloomberg.net.
Last Updated: November 10, 2008 09:01 EST
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