Align, Apple, Blackstone, Citrix, Sirius: U.S. Equity Preview
Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 8:40 a.m. in New York.
Align Technology Inc. (ALGN) : The maker of a teeth- straightening product agreed to acquire closely held Cadent Holdings Inc. for $190 million in cash. Align forecast fiscal- year 2011 earnings of no more than 75 cents a share, less than the average estimate for 80 cents. Cadent provides 3D digital scanning for orthodontics and dentistry.
Apple Inc. (AAPL) : The maker of the ipod and ipad was rated “buy” in new coverage at Sterne Agee & Leach Inc.
BlackRock Inc. (BLK) rose 5 percent to $195.80. The world’s largest asset manager will replace Genzyme Corp. (GENZ) in the Standard & Poor’s 500 Index after the close of trading on April 1, S&P said in a statement.
Blackstone Group LP (BX) climbed 0.5 percent to $18.49. The private equity firm’s $31 billion credit investment arm, GSO Capital Partners LP, is acquiring AIB Capital Markets Plc’s collateral management business, according to a notice with the Irish Stock Exchange.
Citrix Systems Inc. (CTXS) : The software maker was rated a new “outperform” at Morgan Keegan & Co.
Dell Inc. (DELL) slumped 0.7 percent to $14.66. The world’s third-largest personal-computer maker was cut to “hold” from “buy” at Needham & Co. Inc.
Forest City Enterprises Inc. (FCE/A) (FCE/A US): The Cleveland- based property developer said it sold a 49 percent stake in retail centers across the New York City area to Madison International Realty LLC for $172.3 million in cash.
Landec Corp. (LNDC) : The maker of packaged food products said earnings will be below the low end of its estimate for 34 cents to 36 cents a share. Analysts project 34 cents, according to Bloomberg data.
Microsoft Corp. (MSFT) added 0.4 percent to $25.60. The software maker plans to include mobile-payment features in the next version of its Windows Phone operating system, part of an effort to narrow Google Inc.’s (GOOG US) lead in smartphone software, two people familiar with the plans said.
Nokia Oyj (NOK1V) : The world’s biggest maker of mobile phones had its debt rating cut for the first time by Standard & Poor’s, which cited further market share losses and “weaker” operating margins at the Finnish company.
Oxford Industries Inc. (OXM) soared 17 percent to $29.31. The maker of Tommy Bahama clothing posted quarterly earnings-per-share that exceeded the average analyst estimate, according to a Bloomberg survey. The company also boosted its quarterly dividend to 13 cents a share from 11 cents.
Phillips-Van Heusen Corp. (PVH) : The clothing maker was cut to “buy” from “conviction buy” at the Goldman Sachs Group Inc.
Qihoo 360 Technology Co. (QIHU US): The Chinese provider of computer anti-virus products and Web browsers is scheduled to start trading on the New York Stock Exchange after raising $175.6 million in its U.S. initial public offering, 16 percent more than originally sought.
Sirius XM Radio Inc. (SIRI) : The biggest U.S. satellite- radio broadcaster must face class-action claims in a lawsuit alleging antitrust violations, a federal judge ruled.
Sunstone Hotel Investors Inc. (SHO) : The owner of lodging properties including New York’s Hilton Times Square agreed to take a controlling interest in the 1,190-room Hilton San Diego Bayfront and sell the Royal Palm Miami Beach.
Tibco Software Inc. (TIBX) : The Palo Alto-based business-software developer fell after it beat quarterly adjusted earnings estimates by the smallest amount in three years, Bloomberg data show.
Universal Travel Group (UTA) slumped 22 percent to $4.20. The travel services company said it will delay an earnings conference call because its independent auditors need more time to complete their work.
Valeant Pharmaceuticals International Inc. (VRX) : The drug developer offered to buy Cephalon Inc. (CEPH) for $73 a share in cash. The offer is valued at about $5.7 billion. Valeant soared 14 percent to $51.00. Cephalon advanced 30 percent to $76.15.
ValueVision Media Inc. (VVTV) slumped 7.4 percent to $6.35. The direct-marketing company said it’s planning a secondary stock offering. It didn’t specify an amount of shares to be sold.
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