Company/EPS Estimate
- (KDE)/-.15
- (DRS)/.95
- (FNM)/.85
- (GG)/.15
Manitowoc Co. (MTW): The Wisconsin-based maker of construction equipment and American Tower Corp. (AMT), the second-largest U.S. operator of mobile-phone towers, will join the Standard & Poor's 500 Index, S&P said in a statement. Manitowoc shares dropped $1.22, or 2.8 percent, to $41.90 yesterday. American Tower gained $1.81, or 4.2 percent, to $45 before the official open of U.S. exchanges.
Merck & Co. (MRK) rose $1.22 or 2.2 percent, to $55.99. The third-largest U.S. drugmaker said it agreed to pay $4.85 billion to settle the majority of claims that it hid the health risks of the withdrawn Vioxx painkiller.
Perini Corp. (PCR): The largest U.S. builder of hotels and convention centers reported third-quarter earnings per share of 87 cents, above the average estimate of 67 cents among four analysts surveyed by Bloomberg. Perini shares added $1.14, or 2.1 percent, to $54.99 yesterday.
Rio Tinto Group American depositary receipts (RTP) advanced $40.70, or 9.2 percent, to $480.90. BHP Billiton Ltd., the world's biggest mining company, may need to add cash to its all-stock offer for Rio Tinto as it seeks to gain greater advantage from a commodities boom fueled by China, investors said.
Starwood Hotels & Resorts Worldwide Inc. (HOT): The third- largest U.S. hotel company said it plans to buy back an additional $1 billion in shares and increased its annual dividend 7 percent to 90 cents a share. Shares declined 94 cents, or 1.8 percent, to $51.60 yesterday.
Wachovia Corp. (WB) declined $1.45, or 3.6 percent, to $38.85. The fourth-largest U.S. bank set aside as much as $600 million for loan losses in the fourth quarter and said the value of some debt securities fell by about $1.1 billion before tax in October.
World Fuel Services Corp. (INT): The seller of fuel for ships and planes reported third-quarter earnings per share of 51 cents, below the average estimate of 60 cents among five analysts. World Fuel shares gained 25 cents, or 0.6 percent, to $39.75 yesterday.
Watch PBR, MO, DTV, CNX, NOC for long breakouts.
Watch MTB, STI, MER, UB, STU for short breakdowns.
-MM
