ConAgra Foods, Deckers, Monster, Sara Lee: U.S. Equity Preview
Shares of the following companies may have unusual moves in U.S. trading today. Stock symbols are in parentheses and prices are as of 8:45 a.m. in New York.
Boston Scientific Corp. (BSX) gained 1.6 percent to $7. Moody’s Investors upgraded the rating outlook of the second- biggest maker of heart devices to positive from stable based on developments of the company’s stent franchise.
Bristol-Myers Squibb Co. (BMY) rose 1.1 percent to $29.25. The pharmaceutical company said a treatment it’s studying with AstraZeneca Plc (AZN US), which pairs dapagliflozin and metformin, improved morning blood sugar levels.
Cliffs Natural Resources Inc. (CLF) fell 0.4 percent to $86.25. North America’s largest iron-ore producer said regulators rebuffed its carbon monoxide remediation plan for the Pinnacle Mine in West Virginia. The plan would have allowed resumption of underground mining operations at Pinnacle, which now won’t restart before the fourth quarter, the company said. Operations were stopped in May.
ConAgra Foods Inc. (CAG) gained 2.5 percent to $25.83. Goldman Sachs Group Inc. raised the food manufacturer to “buy” from “neutral” and increased the share-price estimate to $31 from $28 based on the potential for acquisitions and buybacks.
Deckers Outdoor Corp. (DECK) increased 1.6 percent to $84.40. Capstone Investments upgraded the maker of Ugg boots and Teva sandals to “buy” from “hold” and gave a 12-month price forecast of $98 a share.
Exco Resources Inc. (XCO) fell 3.9 percent to $18.05. Douglas Miller, chief executive officer of the natural gas producer, is considering buying part of the company after financing problems prevented him from taking it private, The Wall Street Journal said, citing people familiar with the situation.
Gilead Sciences Inc. (GILD) improved 1.3 percent to $40.24. The AIDS-drugmaker may rally to as high as $48 if it wins approval for two new combination therapies, Barron’s reported, citing Credit Suisse analyst Ravi Mehrotra.
Hartford Financial Services Group Inc. (HIG) rose 1 percent to $24.97. FBR Capital Markets Inc. equity analyst Randy Binner raised the insurance provider to “outperform” from “market perform” and raised the share-price estimate to $35 from $32 based on the company’s funding ability to match policyholder liabilities.
JPMorgan Chase & Co. (JPM) fell 0.2 percent to $39.42. Irving H. Picard, the trustee for the liquidation of Bernard Madoff’s investment company, filed an amended complaint in U.S. court against the second-biggest U.S. bank by assets, seeking to collect a minimum of $19 billion in damages. Picard had sought $5.4 billion in damages previously, in addition to $1 billion in transfers and claims.
Molex Inc. (MOLX) decreased 2 percent to $25.40. Ticonderoga Securities cut the maker of electrical components for cars to “sell” from “neutral” and gave a 12-month price estimate of $20 a share.
Monster Worldwide Inc. (MWW) improved 3 percent to $13.91. The online career recruiter unveiled a new professional networking Facebook application.
Sara Lee Corp. (SLE) increased 0.8 percent to $18.75. The food manufacturer could be a takeover target for Smithfield Foods Inc. (SFD US), owner of the world’s biggest hog slaughterhouse, which is looking for buys in the packaged-meat industry after canceling a plan to purchase Spain’s Campofrio Food Group SA, Bloomberg News reported.
SINA Corp. (SINA US) climbed 3.2 percent to $92.25. Goldman Sachs Group Inc. raised the owner of China’s third-most visited website to “neutral” from “sell” and set a share-price estimate at $87.
SuccessFactors Inc. (SFSF) gained 1.4 percent to $30. Canaccord Genuity Corp. upgraded the maker of software used to manage employee performance to “buy” from “hold” and gave a 12-month price forecast of $38 a share.
Stanley Black & Decker Inc. (SWK) rose 1.3 percent to $70.20. The producer of power tools agreed to buy Niscayah AB for 7.6 billion kronor ($1.2 billion), outbidding rival Securitas AB (SECUB SS) to secure expansion in the market for electronic security systems.
Universal Forest Products Inc. (UFPI) sank 16 percent to $30. The maker of do-it-yourself lumber products said it’s cutting jobs because of weaker-than-expected sales in the first five months of the year. Net sales through May dropped 9.5 percent to $765 million from a year earlier, the company said in a statement on Business Wire.
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