Stocks on the move: Exxon, ImClone, Total System

0 Comments | Oakland Tribune, Jul 31, 2008 | by BAY AREA NEWS GROUP

By Jeff Kearns and Katherine Greene

Bloomberg News

The following companies are having unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 10:40 a.m. in New York.

Akamai Technologies Inc. (AKAM US) fell 23 percent to $24.07, the biggest decline since April 2000. The largest supplier of software and services to speed up the delivery of Web pages said on a conference call that it anticipates annual adjusted net income in a range of $1.63 to $1.69 a share, down from an earlier forecast of $1.68 to $1.71.

AtheroGenics Inc. (AGIX US) jumped 84 percent, the most ever, to $1.01. The maker of drugs for chronic inflammatory diseases said trials of its drug to treat Type 2 diabetes were successful.

Bare Escentuals Inc. (BARE US) fell the most since its going public in 2003, dropping 29 percent to $11.95. The maker of mineral- based cosmetics said 2008 sales growth may trail its forecast.

Cadence Pharmaceuticals Inc. (CADX US) rose 68 percent to $10.79, the steepest gain since its initial public offering in October 2006. The maker of drugs for hospitals said it successfully completed two clinical trials for its Acetavance drug, an intravenous acetaminophen treatment for pain, according to a statement distributed by PR Newswire. The U.S. Food and Drug Administration said the trials were sufficient for the company to apply for a new drug application, Cadence said.

Consol Energy Inc. (CNX US) lost 6.5 percent to $82.79, the third decline this week. The second-biggest U.S. coal producer by market value said second-quarter profit fell 34 percent on rising fuel and labor costs.

Deluxe Corp. (DLX US) slid the most since at least 1980, falling 22 percent to $15.02. The provider of personalized checks and fraud- prevention services cut its full-year profit estimate to no more than 60 cents a share, missing the average analyst estimate of 80 cents a share, according to Bloomberg data.

Exxon Mobil Corp. (XOM US) fell 3.5 percent, the most in more than two weeks, to $81.47. The world's biggest energy company said per-share profit excluding costs related to a legal ruling was 26 cents lower than the average of 12 analyst estimates compiled by Bloomberg.

Hologic Inc. (HOLX US) had its biggest decline since May 1, falling 18 percent to $18.75. The medical equipment maker that acquired Third-Wave Technologies last week had its ratings lowered to "hold" from "buy" at Jefferies Group Inc. and to "neutral" from "buy" at Merrill Lynch & Co.

ImClone Systems Inc. (IMCL US) surged 37 percent, the most since May 1995, to $63.90. Bristol-Myers Squibb. Co. offered to buy the portion of ImClone it doesn't already own for $60 a share. Bristol- Myers delivered the offer to ImClone Chairman Carl C. Icahn today, ImClone said in a regulatory filing.

MasterCard Inc. (MA US) lost 8.8 percent to $247.01, the steepest decline since February 2007. The world's second-biggest credit-card company posted a $746.7 million loss on costs to settle an antitrust lawsuit with American Express Co.

Motorola Inc. (MOT US) rose the most since April 2004, advancing 11 percent to $8.51. The largest U.S. mobile-phone maker posted an unexpected second-quarter profit on job cuts and sales that beat estimates.

Schering-Plough Corp. (SGP US) advanced the most since April 23, jumping 5.7 percent to $21.20. The drugmaker was upgraded to "buy" from "neutral" by analysts at Merrill Lynch & Co., who said "we expect two potential blockbusters to be approved over the next year." This "suggests a better near- term pipeline outlook for Schering-Plough than any other U.S. major pharma," Merrill said.

Shire Plc American depositary receipts (SHPGY US) climbed the most since October 2006, gaining 6.8 percent to $49.48. The U.K.'s third-largest drugmaker reported a narrower second- quarter loss as sales of the Adderall XR hyperactivity treatment beat analysts' estimates.

Symantec Corp. (SYMC US) rose the most since May 1, advancing 8.2 percent to $21.30. The world's biggest maker of security software said first-quarter profit almost doubled and gave a forecast that beat analysts' estimates as international customers added programs to store and protect data.

Total System Services Inc. (TSS US) dropped 22 percent, the most since its initial public offering in 1983, to $17.36. The credit- card processor cut its full-year profit forecast to as much as $1.29 a share, down from as much as $1.34. The company said the economic slowdown has "hampered" its clients' activities.

Valassis Communications Inc. (VCI US) fell the most since October 2002, plunging 21 percent to $8.85. The distributor of advertisements through newspaper inserts and mailings reported the first year-over-year sales decline in six quarters.

Wyndham Worldwide Corp. (WYN US) advanced the most in a week, gaining 7.1 percent to $18.72. The franchiser of Ramada and Super 8 hotels said second-quarter profit rose on international hotel earnings. Net income advanced to 55 cents a share from 52 cents a year earlier, the company said in a PR Newswire statement.