Ambac Financial Group Inc. (ABK) soared $6.19, or 27 percent, to $29. MBIA Inc. (MBI) advanced $1.85, or 6.7 percent, to .45. Moody's Investors Service affirmed the AAA credit ratings on the companies' insurance subsidiaries.
American Dairy Inc. (ADY) dropped 50 cents, or 3.6 percent, to $13.50 in trading before the official open of U.S. markets. The milk producer may continue to drop as the company faces a U.S. Securities and Exchange Commission probe of its Hong Kong-based auditor, Barron's reported. American Dairy gained $1.92, or 16 percent, to $14 on Dec. 14.
Aon Corp. (AOC): The world's second-largest insurance broker agreed to sell two units for a combined $2.75 billion and said it would use the proceeds to buy back shares. Aon lost 76 cents, or 1.5 percent, to $48.94 on Dec. 14.
Cameron International Corp. (CAM): The third-largest U.S. maker of oilfield equipment named Chief Operating Officer Jack Moore as chief executive officer effective April 1. Corporate Controller Charles Sledge was named finance chief, the company said. The stock fell $1.79 to $95.71 on Dec. 14.
Citizens Communications Co. (CZN) rose 45 cents, or 3.7 percent, to $12.50. The telecommunications company should deliver a total return of 35 percent based on its increase in cash flow, strong margins and dividend, Barron's reported, citing Scott Black, president of Delphi Management Inc. Black told Barron's the company may rise 27 percent to $15 or $16.
Franklin Resources Inc. (BEN): The manager of the Franklin and Templeton mutual funds raised its quarterly cash dividend by 33 percent to 20 cents a share, the 26th year in a row it has increased the payout. The stock slipped $4.05 to $111.04 on Dec. 14.
Harley-Davidson Inc. (HOG): The largest U.S. motorcycle maker said it plans to buy back as many as 20 million shares. The stock lost 72 cents to $44.96 on Dec. 14.
J.C. Penney Co. (JCP) added 48 cents, or 1.1 percent, to $43. The department-store retailer may rebound to as high as the $60s in the next 12 months, as investors take advantage of its low price, Barron's reported, citing S. Basu Mullick of Neuberger Partners Fund.
LDK Solar Company Ltd. American depositary receipts (LDK) rallied $17.66, or 31 percent, to $74.50. The Chinese maker of silicon wafers used in solar cells said a probe by the company's audit committee found no ``material errors'' in its reported silicon inventories.
Legg Mason Inc. (LM): The money manager's debt outlook was lowered to ``negative'' from ``stable'' by Moody's Investors Service, in part because of possible losses from structured investment vehicles in its money-market funds. The stock dropped $1.04 to $73.28 on Dec. 14.
Rohm & Haas Co. (ROH): The world's largest maker of acrylic-paint ingredients said it will increase prices of some vinyl acetate-based emulsions by as much as 10 percent as of Jan. 1. The stock lost $1.63 to $55.11 on Dec. 14.
SLM Corp. (SLM): The company named Executive Chairman Albert L. Lord its chief executive officer, returning him to a role he held with the student-loan company for eight years. SLM fell $1.14 to $26.69 on Dec. 14.
Trane Inc. (TT) surged $8.75, or 24 percent, to $45.95. Ingersoll-Rand Co. (IR) , the maker of Thermo King truck refrigerators, agreed to buy Trane for $10.1 billion in cash and stock to gain air-conditioning and heating systems. Ingersoll- Rand declined 6.7 percent to $45.90.
Tween Brands Inc. (TWB): SAC Capital Advisors LLC, Steve Cohen's $12 billion hedge fund, increased its stake in the owner of the Limited Too and Justice apparel chains to 6.9 percent. Tween lost 84 cents, or 3.5 percent, to $23.25 on Dec. 14.
Watch KO, PEP, CBI, WAT, MA for long breakouts.Watch COF, AMR, MER, XL, STU for short breakdowns.
-MM
