Alliant Energy Corp. (LNT): The provider of gas and power in the U.S. Midwest said it acquired a wind-development site in Iowa from Wind Capital Group LLC and plans to invest as much as $440 million. The stock fell 24 cents to $42.40 in regular trading.
Allstate Corp. (ALL): The largest publicly traded U.S. home insurer may rise as much as 25 percent in the next year as it reduces potential exposure to hurricanes and benefits from demand for its auto policies, Barron's reported in its Dec. 10 issue. The stock fell 41 cents to $52.46.
American Financial Group Inc. (AFG): The insurer that covers worker injuries and crop damage reached an agreement to buy Strategic Comp Holdings LLC. Terms weren't disclosed. The stock fell 4 cents to $29.71.
DTE Energy Co. (DTE): Michigan's biggest utility-owner agreed to sell part of its Barnett Shale natural-gas properties to an undisclosed party for about $260 million, as part of its plan to raise funds for stock buybacks. The stock fell 50 cents to $50.50.
First Marblehead Corp. (FMD): Analysts at Standard & Poor's and Friedman Billings said they are lowering 2008 estimates for the third-largest U.S. arranger of securities backed by student loans after it said it's cutting its dividend by more than half. The stock dropped 11 cents to $17.85.
JPMorgan Chase & Co. (JPM): The third-largest U.S. bank is in a better position to withstand upheaval in global credit markets because it has less exposure to them and can count on revenue from non-banking sources, Barron's reported. Chief Executive Officer Jamie Dimon told the newspaper that JPMorgan does have ``a lot of risk'' in both collateralized-debt obligations and subprime mortgages, though the company feels ``fine'' about its risk exposure. The stock fell 13 cents to $46.08.
Kinetic Concepts Inc. (KCI): Shares of the San Antonio- based maker of wound-care products may fall if its patents are invalidated, or rivals are able to make products similar to its devices without risk of patent infringement, Barron's reported, without citing anyone. The stock declined $1.16, or 2.1 percent, to $54.88.
Rite Aid Corp. (RAD): Lehman Brothers analyst Meredith Adler, the top-ranked drugstore analyst according to Institutional Investor magazine, predicted the stock will reach $7, saying the company ``has made significant progress over the past several years to strengthen its competitive position.'' The shares rose 29 cents, or 7.7 percent, to $4.06.
Watch MRK, D, MHS, WLT, MA, MBT, PEP for long breakouts.
Watch WFC, RHD, GCI, MHK, MTB, STU for short breakdowns.
-MM
