By Whitney Kisling
Nov. 10 (Bloomberg) -- The following companies had unusual price changes in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
Some commodity shares gained after China, the biggest contributor to world growth, announced a 4 trillion yuan ($586 billion) plan to sustain its economy.
Alcoa Inc. (AA US) climbed 5.3 percent to $11.78 for the biggest advance in the Dow Jones Industrial Average. Consol Energy Inc. (CNX US) rose 3.8 percent to $28.80. Peabody Energy Corp. (BTU US) jumped 8.3 percent to $31.71. Newmont Mining Corp. (NEM US) increased 5.6 percent to $27.27.
Some Chinese shares rallied. American depositary receipts of Xinyuan Real Estate Company Ltd. (XIN US), a developer that sells apartments to the country's middle-income consumers, rose 15 percent to $2.75. ADRs of Aluminum Corporation of China Ltd. (ACH US), the nation's biggest producer of the metal, jumped 13 percent to $10.68.
ADRs of Sutor Technology Group Inc. (SUTR US), the Chinese producer of steel finishing fabrication products, gained 12 percent to $1.90.
Retail landlords retreated after Circuit City Stores Inc. (CC US) filed for bankruptcy protection. Developers Diversified Realty Corp. (DDR US) tumbled 25 percent to $7.25. General Growth Properties Inc. (GGP US) dropped 34 percent to $1.37. Kimco Realty Corp. (KIM US) lost 9.6 percent to $19. Simon Property Group Inc. (SPG US) slid 10 percent to $61.01.
Allied Capital Corp. (ALD US) dropped 44 percent to $4.11 for the biggest decline since shares began trading 15 years ago. The buyout and lending company reported third-quarter profit that missed analysts' average estimate and said it plans to cut dividends for 2009.
American Capital Ltd. (ACAS US) slid 43 percent to $7.87 for the biggest loss since its 1997 initial public offering. 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 Capital also said it would suspend its dividend for 2008.
American International Group Inc. (AIG US) rallied 8.1 percent to $2.28. 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.
Caterpillar Inc. (CAT US) lost 2.7 percent to $37.41, the lowest level this month. Morgan Stanley said that while China's stimulus plan may improve sentiment toward Caterpillar shares, the impact would be ``probably less so for sales.''
Centennial Communications Corp. (CYCL US) more than doubled to $7.78, the biggest advance since its shares began trading in December 1991. 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.
Clear Channel Outdoor Holdings Inc. (CCO US) fell 38 percent to $3.57, the biggest drop since shares began trading in November 2005. The world's largest billboard owner reported third-quarter earnings and revenue that missed analysts' average estimates.
Convergys Corp. (CVG US) lost 10 percent to $6.12, the lowest level since its August 1998 initial public offering. The provider of customer call centers had its credit rating cut to junk by Standard & Poor's, which the company's ``weaker liquidity profile'' and ``more volatile'' software license model.
Dish Network Corp. (DISH US) dropped 15 percent to $13.24, the lowest level since August 2002. The nation's second-largest satellite-television provider posted third-quarter profit of 20 cents a share, missing the average analyst estimate by 65 percent, according to data compiled by Bloomberg. The company cited subscriber losses and securities impairment charges.
DuPont Fabros Technology Inc. (DFT US) slid 32 percent to $1.88, the lowest since its October 2007 initial public offering. The real estate investment and development firm was cut to ``neutral'' from ``buy'' by UBS AG analyst Omotayo Okusanya Ii.
Ecolab Inc. (ECL US) fell 8.8 percent to $33.36, the lowest level since November 2005. Henkel AG (HEN3 GY), the German maker of Persil detergent, plans to sell a stake of almost a third in the U.S. cleaning-chemicals company valued at $2.66 billion. Ecolab will spend at least $300 million to buy back shares from Henkel and will help to market an underwritten public sale of the remaining stock.
Force Protection Inc. (FRPT US) added 8.4 percent to $2.98, the highest price in a month. The maker of blast-resistant trucks reported third-quarter profit of 29 cents a share, beating the average analyst estimate of 11 cents, according to Bloomberg data. The company said it has developed a new flatbed cargo- transport truck and anticipates an order for as many as 100 of the new vehicles.
General Motors Corp. (GM US) fell the most in the Dow average, losing 23 percent to $3.36. The largest U.S. automaker was cut to ``sell'' from ``hold'' at Deutsche Bank AG, which set a share-price estimate of zero. The company also was lowered to ``underweight'' from ``equal weight'' at Barclays Plc, which said ``current GM equity has little value.''
Some auto-parts makers dropped. TRW Automotive Holdings Corp. (TRW US), the world's biggest maker of vehicle-safety parts, fell 11 percent to $4.59. Lear Corp. (LEA US), the No. 2 supplier of car seats, lost 16 percent to $1.67.
Goldman Sachs Group Inc. (GS US) fell 8.5 percent to $71.21, the lowest since April 2003. The Wall Street bank that cut 3,200 jobs last week will post its first loss since going public in 1999, Barclays Plc analyst Roger Freeman said.
Google Inc. (GOOG US) fell 3.7 percent to $318.78, the lowest closing price in three years. The owner of the most popular Internet search engine had its revenue and share-price forecasts cut by Barclays Plc, which said the slowing economy is ``finally catching up with Google and search.''
Lamar Advertising Co. (LAMR US) fell the most in a month, losing 13 percent to $13.58. The Baton Rouge, Louisiana-based provider of poster and bulletin displays had its outlook cut to ``negative'' from ``stable'' at Standard & Poor's because of the impact of the ``rapidly weakening'' economy on earnings and credit measures.
MBIA Inc. (MBI US) fell 12 percent to $7.04, a two-week low. 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.
McDonald's Corp. (MCD US) added 1.8 percent to $56.48 for the second-biggest gain in the Dow average. The world's largest restaurant company posted October sales that beat some analysts' estimates after U.S. consumers pinched by rising food bills and unemployment bought double cheeseburgers and other $1 items.
Pain Therapeutics Inc. (PTIE US) lost 7 percent to $8, the lowest price in three months. The San Mateo, California-based drug developer hasn't proved its new painkiller thwarts abusers, the Food and Drug Administration's staff said.
People's United Financial Inc. (PBCT US) added 6.3 percent, the most since Oct. 28, to $17.70. The bank holding company was picked to replace Unisys Corp. (UIS US) in the Standard & Poor's 500 Index. Unisys tumbled 33 percent to 61 cents.
Pike Electric Corp. (PEC US) rose 8.9 percent to $9.53, the highest level in three weeks. The powerline contractor in the eastern U.S. reported first-quarter profit, excluding some items, of 54 cents a share, more than the average analyst estimate of 15 cents a share, according to Bloomberg data.
StemCells Inc. (STEM US) gained 31 percent to $2.29, the highest since October 2007. Investors speculated President-elect Barack Obama may reverse the Bush administration's order restricting federal funding for embryonic stem-cell research.
Geron Corp. (GERN US), another company involved in stem-cell development, climbed 11 percent to $4.45.
Sterling Construction Co. (STRL US) gained 5.7 percent, the most since Oct. 30, to $11.75. The company specializing in highway paving, bridge and sewer projects posted third-quarter profit, excluding some items, of 44 cents a share, beating the average analyst estimate of 36 cents, according to Bloomberg data.
Sunrise Senior Living Inc. (SRZ US) fell the most in nine years, plunging 39 percent to $1.30. The Mclean, Virginia-based company was cut to ``hold'' at Stifel Nicolaus & Co., which said Sunrise may need to raise additional capital to fund operations and refinance its credit line.
Suntech Power Holding Co. ADRs (STP US) lost 9.2 percent to $13.26. The largest maker of solar-power cells was cut to ``sell'' from ``hold'' by Deutsche Bank AG analyst Michael Chou.
TriMas Corp. (TRS US) dropped 24 percent to $2.29, the lowest level since its May 2007 IPO. The maker of trailer hitches and bicycle racks forecast full-year profit of 71 cents to 75 cents a share, less than its previous estimate of 85 cents to 95 cents.
Tyson Foods Inc. (TSN US) fell 10 percent to $6.69, the lowest price since July 1989. The largest U.S.-based meat producer reported fourth-quarter profit that trailed analysts' estimates and predicted a possible loss this quarter.
To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net
Last Updated: November 10, 2008 16:30 EST
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