Stocks on the Move: Barrick, Halliburton, YRC

Plus more stocks making headlines in Thursday's market

By Nikolaj Gammeltoft

Dec. 31 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 8:45 a.m.

Gold and mining companies advanced after the metal rose in London, heading for a ninth straight annual gain, on speculation climbing commodity prices and a weaker dollar will spur demand for the metal as a hedge against inflation.

Barrick Gold Corp. (ABX), the largest gold miner, gained 1.4% to 40.10. Newmont Mining Corp. (NEM), the largest U.S. producer, added 0.9% to 48.03. Randgold Resources Ltd. (GOLD) rose 1.4% to 80.56. Gold Fields Ltd. (GFI) increased 1.8% 13.15. Hecla Mining Co. (HL) climbed 2.2% to 6.38.

American Tower Corp. (AMT): The second-largest U.S. operator of mobile-phone tower is in talks to buy a controlling stake in Essar Telecom Infrastructure Pvt. Ltd., a unit of India's Essar Group, the Wall Street Journal reported, citing an unidentified person. American Tower may pay 20 billion rupees ($427.8 million), according to the report.

City National Corp. (CYN): The parent company of City National Bank said it bought back $200 million of preferred shares from the U.S. Treasury Department and intends to repurchase the remaining $200 million held by the government.

Halliburton Co. (HAL) rose 1.4% to 30.39. The world's second-largest oilfield-services provider had its share estimate raised to 36 from 34 at Credit Suisse Group AG, which cited better opportunities to increase revenue growth than its rivals.

Pantry Inc. (PTRY): The owner of the Kangaroo Express convenience-store chain was rated new "neutral" at Global Hunter Securities.

Pilgrim's Pride Corp. (PPC): The chicken producer that just emerged from bankruptcy protection said it will pay $4.5 million over three years as part of a settlement agreement over allegations of identity theft and the employment of individuals who are not authorized to work in the U.S.

Preferred Bank (PFBC) fell 7% to 2. The Los Angeles-based bank was cut to "underperform" from "market perform" by FBR Capital Markets Corp., which said the company may need to raise money to bolster its capital.

YRC Worldwide Inc. (YRCW) surged 14% to 1.13. The largest U.S. trucking company said bondholders agreed to swap their debt for equity in the largest U.S. trucker, enabling the company to avoid a bankruptcy filing that may have resulted in liquidation.

To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net

Business Exchange

Track and share business topics across the Web.