Stocks on the Move: Cadbury, Georgia Gulf, RadioShack
Jan. 5 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 7:45 a.m. in New York.
Aluminum Corp. of China Ltd. (ACH) rose 6.3% to $30.40. The company known as Chalco raised alumina prices 5.7%, the third increase in five months, and the price of aluminum by 7.8% from a month ago, according to a table on its Web site.
Brightpoint Inc. (CELL) dropped 6.8% to $7.23. The wholesaler of mobile phones said preliminary results showed that, excluding some items, it earned 18 cents a share at most in the fourth quarter. That trailed the average estimate of 19 cents from analysts in a Bloomberg survey.
Cadbury Plc (CBY) fell 3.4% to $49.88. Warren Buffett's Berkshire Hathaway Inc. voted against Kraft Foods Inc.'s proposal to issue as many as 370 million shares to help buy Cadbury. "Kraft stock, at its current price of $27, is a very expensive ‘currency' to be used in an acquisition," Omaha, Nebraska-based Berkshire said today in a statement on its Web site. Berkshire is the top shareholder in Kraft with a stake of more than 9%. Kraft (KFT) rose 2.4% to $28.09.
Concho Resources Inc. (CXO) fell 0.7% to $47.05. The oil and natural-gas company operating in four U.S. states was downgraded to "neutral" from "overweight" at JPMorgan Chase & Co.
Georgia Gulf Corp. (GGC) gained 4.6% to $18.85. North America's largest maker of vinyl construction products was raised to "hold" from "underweight" at BB&T Capital Markets.
II-VI Inc. (IIVI) climbed 0.8% to $32.40. The maker of optical devices used in laser processing increased its revenue forecast, saying it expects sales of at least $293 million for the current fiscal year. That beat the average analyst estimate of $274 million from a Bloomberg survey.
Las Vegas Sands Corp. (LVS) rose 3% to $17.12. The casino company controlled by billionaire Sheldon Adelson rose after a news report said casino revenue in Macau, the world's biggest gambling hub, jumped 48% in December. Wynn Resorts Ltd. (WYNN) gained 1.5% $64.94.
Merix Corp. (MERX): The circuit-board maker posted a loss excluding some items of 6 cents a share in the second quarter. That's narrower than the 18-cent loss estimated by Longbow Research Inc.
RadioShack Corp. (RSH) added 6% to $20.96. The second-largest U.S. electronics chain was upgraded to "buy" from "neutral" and added to the "conviction list" by Goldman Sachs Group Inc., which cited the company's position in the wireless market as it grows with the increasing popularity of smart phones.
Salesforce.com Inc. (CRM) fell 0.4% to $74.50. The biggest seller of Internet-based software for managing customer information reported multiple disruptions of its service, including one that halted it for 75 minutes.
Tenet Healthcare Corp. (THC) jumped 7.3% to $5.85. The second-biggest publicly held U.S. hospital chain was added to Goldman Sachs Group Inc.'s "conviction buy" list. "Tenet is the only hospital company for which we see the potential for further margin expansion in 2010, starting from a lower baseline than the group," analysts wrote in a report to clients dated Jan 4.
To contact the reporter on this story: Nikolaj Gammeltoft in New York at email@example.com