Best Buy Co. (BBY): The largest U.S. consumer-electronics retailer was downgraded to ``underperform'' from ``outperform'' by Bear Stearns Cos. Analysts led by Christopher Horvers said slowing consumer spending on discretionary items may hurt sales. The shares fell $1.63 to $47.61 in regular trading on Jan. 4.
Federated Investors Inc. (FII): The manager of the Kaufmann funds said new employment contracts with some of its portfolio managers will reduce fourth-quarter earnings by 9 cents a share. The stock fell $1.33 to $38.99 in regular trading on Jan. 4.
Jefferies Group Inc. (JEF) fell $1.59, or 8 percent, to $18.20 before the official open of U.S. exchanges. The New York- based brokerage that specializes in mid-sized company stocks said it had a loss in the fourth quarter after losing money trading with its own funds. The loss, to be finalized on Jan. 23, probably amounted to $24 million, or 17 cents a share.
MF Global Ltd. (MF): The world's largest broker of exchange-traded futures and options contracts Jan. 4 said Chief Financial Officer Amy Butte resigned. It named Chief Administrative Officer Ira Polk as interim CFO. The shares dropped 91 cents, or 3.1 percent, to $28.09 in extended trading after the announcement.
Motorola Inc. (MOT): The largest U.S. maker of mobile phones said it will have an expense of $90 million before taxes in the fourth quarter for job cuts previously announced. The stock fell 12 cents to $14.95.
ProLogis {PLD): The industrial real-estate trust may reach $70 in the next year if the global economy remains stable, Barron's said, without citing anyone. ProLogis stock fell $1.42 to $57.18 in regular trading on Jan. 4.
Southwest Airlines Co. (LUV): The largest low-fare airline would be ``reluctant'' to initiate an acquisition and isn't evaluating other carriers for possible combinations, Chief Executive Officer Gary Kelly said. The stock fell 18 cents to $11.42 in regular trading on Jan. 4.
Watch MON, CBI, PEG, SO for long breakouts.
Watch MHK, CAH, XL, HOC, WPS, STU for short breakdowns.
-MM
