- (DBD)/.33
- (PLL)/.40
- (RVI)/-.14
First Horizon National Corp. (FHN) Tennessee's biggest bank said it would fire as many as 1,500 workers because of a U.S. housing market slump, including as much as 50 percent of its mortgage sales staff. The stock declined 0.6 percent to $29.46 in regular trading yesterday.
Ford Motor Co. (F) rose 25 cents, or 3.3 percent, to $7.75 in trading before the open of U.S. exchanges. United Auto Workers may agree to a union-managed health-care fund that would potentially save U.S-based carmakers $95 billion in retiree costs, the Wall Street Journal reported, citing people familiar with the plan.
General Motors Corp. (GM) rose $1.60, or 5.3 percent, to $31.85 in trading before the open of U.S. exchanges. Citi Investment Research assumed coverage of the biggest U.S. automaker with a ``buy'' rating. The stock may almost double should GM win concessions from the United Auto Workers union, analysts led by Itay Michaeli said. Citi previously recommended that investors sell the stock.
Pfizer Inc. (PFE) The world's biggest drugmaker won protection for a main ingredient in its cholesterol-reducing drug Lipitor in Canada, prohibiting a rival drugmaker from making a generic form of the medicine, according to the Canadian Federal Court. The stock was unchanged at $24.19 in regular trading yesterday.
STMicroelectronics N.V. (STM) American depositary receipts, each representing one share, lost 44 cents, or 2.6 percent, to $16.72. Europe's largest semiconductor maker was cut to ``underweight'' from ``overweight'' at Lehman Brothers Holdings Inc.
Washington Mutual Inc. (WM) The largest U.S. savings and loan will close one division that bought mortgages from other home lenders and another that financed mortgage companies, resulting in 1,000 firings. The stock gained 31 cents to $35.23 in regular trading yesterday.
Watch LDK, OII, ZNH for long breakouts.
Watch CFC, OCR, NCC for short breakdowns.
-MM
