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Continental, EBay, Mylan, National City: U.S. Equity Movers

Updated on

The following companies had unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 4 p.m. in New York.

Airlines dropped after reporting declines in September passenger traffic following fare increases by the seven biggest carriers.

Continental Airlines Inc. (CAL US) slid 11 percent to $13.45. UAL Corp. (UAUA US), parent of United Airlines, dropped 17 percent to $6.70. AMR Corp. (AMR US), owner of American Airlines, fell 10 percent to $8.30. Southwest Airlines Co. (LUV US) slumped 4.7 percent to $12.81. Delta Air Lines Inc. (DAL US) dropped 7.9 percent to $7.24. Northwest Airlines Corp. (NWA US) fell 7.8 percent to $8.71. U.S. Airways Group Inc. (LCC US) declined 4.8 percent to $6.18.

Commodity shipping lines slumped on signs the global economy is slowing. Genco Shipping & Trading Ltd. (GNK US) fell 15 percent to $22.12. Excel Maritime Carriers Ltd. (EXM US) dropped 18 percent to $11.40. Eagle Bulk Shipping Inc. (EGLE US) declined 13 percent to $10.14.

DryShips Inc. (DRYS US) fell 13 percent to $27.25, the lowest price since April 2007. The Athens-based commodities shipping line said it will buy nine commodity carriers from companies associated with its founder for $689.6 million in stock.

Financial shares declined after the German government led a bailout of Hypo Real Estate Holding AG and BNP Paribas SA bought Fortis's Belgium bank.

Bank of America Corp. (BAC US) dropped 6.6 percent to $32.22. JPMorgan Chase & Co. (JPM US) lost 4.1 percent to $44. Citigroup Inc. (C US) retreated 5.1 percent to $17.41.

Energy shares declined as oil prices fell below $90 a barrel for the first time since February. on concern that global economic growth will slow and reduce demand for fuels. Range Resources Corp. (RRC US) slipped 13 percent to $29.72. Tesoro Corp. (TSO US) slumped 12 percent to $12.22.

Boeing Co. (BA US) fell 4.7 percent to $51.29, the lowest price since February 2005. Goldman Sachs Group Inc. cut the airplane maker's profit estimate for 2008 because of a machinists' strike.

Bristol-Myers Squibb Co. (BMY US) lost 5.4 percent to $19.32, the lowest price since May 1996. Eli Lilly & Co. (LLY US) agreed to buy ImClone Systems Inc. (IMCL US), the biotechnology company controlled by billionaire Carl Icahn, for $6.5 billion, and Bristol-Myers said it would drop its hostile bid. Lilly retreated 7 percent, the most since September 2003, to $38.42. ImClone added 3 percent to $66.89.

Dendreon Corp. (DNDN US) climbed 33 percent, the most since March 2007, to $6.93. The company developing a treatment for prostate cancer said the experimental drug reduced the risk of death 20 percent in a study.

EBay Inc. (EBAY US) lost 5.5 percent to $17.89, the lowest since January 2003. The online auctioneer said it will cut 10 percent of its workforce and agreed to buy two payment and classified advertising companies for $1.34 billion as sales growth slows at its Internet marketplace unit.

El Paso Corp. (EP US) retreated 7.1 percent to $10.18, the lowest price since May 2005. The owner of the largest U.S. network of natural-gas pipelines said two of its 27 platforms in the Gulf of Mexico were ``heavily damaged'' by recent hurricanes and that much of its production in the region remain idle.

Hartford Financial Services Group Inc. (HIG US) gained 13 percent, the most since March 2000, to $30.90. The Connecticut-based insurer facing credit downgrades said Allianz SE will buy $2.5 billion of the company's stock and debt.

KKR Financial Holdings LLC (KFN US) lost 24 percent, the most since August 2007, to $4.32. JPMorgan Chase & Co. analyst Jim Ballan said a recession may spur more defaults for the debt-investment affiliate of buyout firm KKR & Co. and cut his rating.

Mylan Inc. (MYL US) fell 12 percent, the most since August 2006, to $9. The biggest U.S. maker of generic drugs had its share-price target and earnings estimates cut by UBS AG on concern the company won't be able to repay its debt.

National City Corp. (NCC US) plunged 27 percent, the most since Sept. 29, to $2.56. Fitch Ratings downgraded Ohio's biggest bank, citing the prospect of rising loan losses amid a slowing U.S. economy.

Netflix Inc. (NFLX US) dropped 8.6 percent, the most since April 22, to $26.49. The largest U.S. mail-order movie service said it signed up fewer subscribers in the third quarter than it expected due to an ``unusually weak'' August.

Nvidia Corp. (NVDA US) slid 13 percent to $7.85, the lowest price since May 2005. Pacific Crest Securities said the second-largest maker of computer-graphics chips may report disappointing third-quarter earnings because of slowing demand.

PRG-Schultz International Inc. (PRGX US) plunged 48 percent, the most since it began trading in March 1996, to $4.39. The recovery audit firm did not get a contract with the Centers for Medicare and Medicaid Services as part of the Medicare Recovery Auditing Contractor Program, according to a statement distributed by Business Wire.

Royal Bank of Scotland Group Plc American depositary receipts (RBS US) lost 20 percent to $2.63, the lowest price since they began trading in October 2007. The U.K.'s second-biggest bank declined on concern it needs to raise capital, and may take up an offer of government money in return for a stake in the bank.

Salix Pharmaceuticals Ltd. (SLXP US) rose 24 percent, the most since April 2003, to $7.06. The company said rifaximin, its antibiotic for irritable bowel syndrome, improved patients' quality of life more than a placebo in a study.

Wavecom SA (WVCM US) climbed 56 percent, the most since at least June 1999, to $8.72. Gemalto NV (GTOFF US), the world's largest maker of smart cards, offered to buy the French maker of mobile-phone parts listed in France and the U.S. for about 111 million euros ($151 million) in cash to add wireless components for machine-to-machine communication.

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