Wednesday, March 10, 2010

Bucyrus, Citigroup, Medtronic, Navistar: U.S. Equity Preview


March 10 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses. Prices are as of 8 a.m. in New York.

AeroVironment Inc. (AVAV:US) declined 5.4 percent to $22.51. The maker of U.S. military spyplanes reported third- quarter profit excluding some items of 30 cents a share, missing the average analyst estimate in a Bloomberg survey by 7.4 percent. The company also lowered its 2010 sales forecast to between $240 million and $250 million. On average, the analysts surveyed by Bloomberg estimated revenue of $288.7 million.

Allergan Inc. (AGN:US) rose 2.3 percent to $62.75. The health-care company’s Botox for reducing facial wrinkles was approved by U.S. regulators to treat muscle spasms in the elbow, wrist and fingers, the Food and Drug Administration said.

American Eagle Outfitters Inc. (AEO:US) surged 5.5 percent to $18.10. The U.S. clothing retailer said it plans to close its Martin+Osa concept, including all 28 stores and the online business. It also estimated first-quarter earnings per share excluding some items of 15 cents to 17 cents. Analysts in a Bloomberg survey had estimated it at 15 cents.

Bucyrus International Inc. (BUCY:US) advanced 3.2 percent to $67.74. The maker of mining equipment was added to Goldman Sachs Group Inc.’s “conviction buy” list.

Chevron Corp. (CVX:US): Bank of America Corp. (BAC:US) cut its price target on shares of the second-largest U.S. energy company to $90, from $95.

Citigroup Inc. (C:US) rose 2.1 percent to $3.90. The bank seeking capital after repaying bailout funds to the Treasury is selling trust preferred securities as rising investor demand drives borrowing costs to near the lowest in almost five years.

Collective Brands Inc. (PSS:US) dropped 1.8 percent to $23.55. The Kansas-based owner of footwear chains reported a fourth-quarter loss excluding some items of 18 cents a share.

Facet Biotech Corp. (FACT:US) soared 67 percent to $27.13. Abbott Laboratories (ABT:US), maker of the arthritis drug Humira, agreed to buy the biotechnology company for $27 a share, for a net transaction value of about $450 million, adding experimental medicines in cancer and immunology.

Abbott retreated 1.1 percent to $54.21.

InterMune Inc. (ITMN:US) soared 70 percent to $39.63. The maker of a treatment for a deadly lung disease that afflicts about 100,000 Americans won a U.S. panel’s backing to introduce the medicine. The Food and Drug Administration usually follows the recommendations of its advisory panels.

Medtronic Inc. (MDT:US) dropped 1.2 percent to $44.20. A Food and Drug Administration review posted on the agency’s Web site said the device maker’s deep brain stimulation therapy was tied to suicides, depression and worsening seizures in a study of epilepsy patients.

Micromet Inc. (MITI:US) sank 3.6 percent to $7.80. The drugmaker offered to sell 10 million shares of common stock.

Navistar International Corp. (NAV:US) lost 9.2 percent to $40.20. The maker of International-brand trucks reported first- quarter sales that missed estimates in a Bloomberg survey of analysts.

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