Markets & Finance

Stocks on the Move: Coca-Cola, Halliburton, U.S. Steel


Plus more stocks making headlines in Friday's market

Jan. 8 (Bloomberg) -- Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 11:10 a.m. in New York.

Generic pharmaceutical companies retreated after the industry was cut to "neutral" from "attractive" by Goldman Sachs Group Inc., which said the "resolution of health-care reform uncertainty" may hurt the sector.

Mylan Inc. (MYL) fell 3.3% to $17.43. The biggest U.S. maker of generic drugs was cut to "neutral" from "buy." Human Genome Sciences Inc. (HGSI) lost 3.1% to $30.19. The maker of a novel drug for lupus was also downgraded to "neutral" from "buy."

AK Steel Holding Corp. (AKS) rose the most in the Standard & Poor's 500 Index, climbing 6.9% to $25.19. The steel maker had its share-price estimate boosted to $34 from $29 by JPMorgan Chase & Co., which cited the prospect of rising steel prices.

U.S. Steel Corp. (X), whose 12-month share-price estimate was lifted to $75 from $55 by JPMorgan, added 5% to $63.93.

Apollo Group Inc. (APOL) fell 5.3% to $60.58 for the second-biggest loss in the S&P 500 index. The largest for- profit provider of college degrees said a Department of Education report cited "six findings and one concern" on the company's financial-aid policies.

Coca-Cola Co. (KO) fell the most in the Dow Jones Industrial Average, sliding 2.2% to $54.98. The world's largest soft-drink maker was reduced to "neutral" from "overweight" at JPMorgan Chase & Co.

Cytori Therapeutics Inc. (CYTX) surged 15% to $7.43 and climbed earlier to $7.78, the highest intraday price since July 2008. The company received clearance from the Food and Drug Administration to sell its PureGraft system, a device that uses a patient's own body fat for grafting.

DemandTec Inc. (DMAN) slipped 8.2% to $7.74 and dropped as much as 12%, the most intraday since July 2. The provider of consumer demand management software was cut to "underweight" from "equal-weight" at Morgan Stanley.

DragonWave Inc. (DRWI) jumped 7.9% to $13.11 after increased earlier to $13.87, the highest intraday price since June 2007. The Canadian provider of wireless network equipment increased its sales forecast for the current fiscal year to C$170 million ($164.3 million).

Halliburton Co. (HAL) rose 2.8% to $33.40 and advanced earlier to $33.81, the highest intraday price since September 2008. The world's second-largest oilfield-services provider was added to Goldman Sachs Group Inc.'s "conviction buy" list as the broker upgraded the shares from "neutral."

Immunomedics Inc. (IMMU) had the biggest rally in Russell 2000 Index, jumping 20% to $3.91. The maker of products for cancer and autoimmune diseases said a patent for potential lupus drug was granted approval in the U.S.

Lawson Software Inc. (LWSN) fell 6.7% to $6.52 after sinking as much as 12%, the most intraday since December 2008. The maker of business-management software forecast third-quarter earnings that missed analysts' estimates and said it agreed to buy Healthvision Solutions Inc. for $160 million.

MetroPCS Communications Inc. (PCS) fell the most in the S&P 500, dropping 6.5% to $7.03. The pay-as-you-go mobile-phone carrier was downgraded to "sell" from "hold" at Soleil Securities Corp.

Rogers Corp. (ROG) slipped 10% to $26.34 and slumped 13% earlier, the most intraday since December 2008. The maker of components used by telephone, technology and defense companies forecast 2010 sales to be about $320 million. That missed the average analyst estimate of $329 million, according to a Bloomberg survey.

Synta Pharmaceuticals Corp. (SNTA) had the biggest decline in Russell 2000 Index, slumping 17% to $4.53. The Lexington, Massachusetts-based drugmaker said it's offering 5.56 million shares at $4.50 each, raising money to fund research and development.

United Parcel Service Inc. (UPS) climbed 4.3% to $59.86 and jumped earlier to $61.13, the highest intraday price since April 2. The world's largest package-delivery company said fourth-quarter earnings exceeded its forecast and it plans to cut 1,800 jobs as it streamlines its small parcels unit.

Veolia Environnement SA (VE) rose 4.1% to $36.07 and climbed earlier to $36.16, the highest intraday price since Oct. 1. The world's largest water company was added to Goldman Sachs Group Inc.'s "conviction buy" list. Veolia's recycling business will "benefit from higher recycled material prices and volumes over the course of 2010," Goldman analysts wrote in a note.

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net


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