The following companies had unusual price changes in U.S. markets. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
Trucking stocks fell after Wachovia Corp. said demand is slowing. Wachovia analyst Justin Yagerman lowered Werner Enterprises Inc. (WERN) and Knight Transportation Inc. (KNX) to ``market perform'' from ``outperform.'' He reduced his rating on the industry to ``market weight'' from ``overweight.''
Werner lost 6.3 percent, the most in four months, to $22.45. Knight retreated 2.7 percent to $17.59. Ryder System Inc. (R) , the largest U.S. truck-leasing company, fell 6.4 percent to $64.72. The company wasn't mentioned in Yagerman's note.
American International Group Inc. (AIG) slid the most in the Dow Jones Industrial Average, losing 5.5 percent to a 13-year low of $18.78. The largest U.S. insurer by assets may post a third-quarter loss of $2.41 billion on writedowns tied to the U.S. housing slump, Credit Suisse Group AG analysts said.
Amylin Pharmaceuticals Inc. (AMLN US) jumped 4.5 percent, the most in more than a week, to $27.77. Leerink Swann & Co. analyst Jonas Alsenas reinstated his ``outperform'' rating on the drugmaker.
Broadcom Corp. (BRCM) declined 4.6 percent, the most in a month, to $26.17. The chipmaker for flat-panel TVs agreed to buy a unit of Advanced Micro Devices Inc. (AMD) for $192.8 million to gain semiconductors used in lower-priced models likely to be in demand for digital broadcasting. AMD rose 2.1 percent to $5.93, the highest since June 27.
Freddie Mac (FRE US) climbed 17 percent, the most in more than a month, to $3.29. The second-largest U.S. mortgage-finance company sold $2 billion of short-term notes in a weekly auction, generating better demand compared with last week. Investors bid 3.95 times the amount of three-month securities on offer from Freddie today, compared with 2.19 times last week. Fannie Mae (FNM US) rose 3.8 percent to $5.19.
Hanger Orthopedic Group Inc. (HGR) declined the most since July 2006, losing 11 percent to $15.86. The maker of medical devices may sell as many as 13.6 million shares, according to a regulatory filing. Issuing new shares may dilute existing stockholders' stakes.
Healthways Inc. (HWAY) sank 22 percent to $19.73 for its steepest loss in six months. The provider of disease-management services said profit for the quarter ending Nov. 30 will be 34 cents to 37 cents a share, trailing the average analysts' estimate of 47 cents.
LDK Solar Co. (LDK US) added 9.3 percent to $50.06, the highest since December. The Chinese maker of silicon wafers said 2009 deliveries may double. Sales next year will climb to $2.8 billion to $3 billion, the company said. Analysts estimated 2009 revenue of $2.42 billion, according to Bloomberg data.
Precision Drilling Trust (PDS) fell 5.5 percent, the most in three weeks, to $20.18. Canada's largest oilfield-services provider agreed to buy Grey Wolf Inc. (GW US) for about $2 billion in cash and stock to add drilling in the U.S. market. Grey Wolf fell 1.1 percent to $8.50.
Quest Resource Corp. (QRCP US) tumbled the most since February 2002, plummeting 30 percent to $4.88. The Oklahoma City-based oil and gas producer said Chairman and Chief Executive Officer Jerry Cash resigned amid an investigation of money transfers to an entity he controlled.
Star Scientific Inc. (STSI) surged 65 percent to $2.76 for its biggest gain since April 2001. A U.S. appeals court revived the company's patent lawsuit against Reynolds American Inc.'s R.J. Reynolds Tobacco over a formula for reducing carcinogens in tobacco. Star is a developer of low-toxin tobacco products.
SunTrust Banks Inc. (STI) slipped 6 percent, the most since Aug. 13, to $40.15. Greg Ketron, who left the largest bank in Georgia last year to become a Citigroup Inc. analyst, issued a ``sell'' rating on his former employer because of widening losses on real-estate loans.
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