March 22 (Bloomberg) -- Shares of the following companies may have unusual fluctuations in U.S. trading tomorrow. Stock symbols are in parentheses and prices are as of March 20.
Alexander & Baldwin Inc. (AXB:US): The parent of ocean- transport company Matson Navigation said it will break even in the first quarter because of a restructuring expense and lower- than-expected demand in January and February. The stock fell 56 cents, or 2.7 percent, to $20.17.
American International Group Inc. (AIG:US): Connecticut Attorney General Richard Blumenthal said yesterday the insurer paid out $218 million in bonuses, which was more than the $165 million disclosed previously. The shares dropped 36 cents, or 22 percent, to $1.26.
Boston Scientific Corp. (BSX:US): The biggest seller of drug-coated heart stents said it agreed to settle a patent suit filed by a New Jersey doctor over heart devices that resulted in a $500 million court award. Boston Scientific said its first- quarter earnings will include a $50 million pretax expense related to the settlement. The stock declined 21 cents, or 2.7 percent, to $7.56.
Concur Technologies Inc. (CNQR:US): The travel-expense software developer said its board has “complete confidence” in Chairman and Chief Executive Officer S. Steven Singh two days after the disclosure that he didn’t earn a degree from the University of Michigan. Concur fell $4.47, or 20 percent, to $18.20.
Ener1 Inc. (HEV:US): The maker of electric-car batteries may rise if the company succeeds in obtaining federal loans under President Barack Obama’s clean-energy development programs, Barron’s reported, citing no one. Ener1 shares dropped 2 cents to $4.24.
Group 1 Automotive Inc. (GPI:US): The owner of 100 U.S. and U.K. car dealerships was downgraded to B1 from Ba3 by Moody’s Investors Service, which cited weak operating performance in 2009 and increased debt from 2007’s acquisitions. Group 1 declined $1.64, or 12 percent, to $12.21.
Lorillard Inc. (LO:US): The third-largest U.S. cigarette maker may become a takeover target as its Newport brand and growth prospects attract bidders, Barron’s reported, citing Nik Modi, an analyst at UBS Securities LLC in New York. The stock rose $1.82, or 3 percent, to $62.28.
Rockwell Automation Inc. (ROK:US): The world’s largest maker of factory-automation equipment entered a three-year, $267.5 million revolving credit line with its lenders, replacing a prior five-year credit agreement. The shares dropped $1.18, or 5 percent, to $22.42.
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Alexander & Baldwin Inc. (AXB:US): The parent of ocean- transport company Matson Navigation said it will break even in the first quarter because of a restructuring expense and lower- than-expected demand in January and February. The stock fell 56 cents, or 2.7 percent, to $20.17.
American International Group Inc. (AIG:US): Connecticut Attorney General Richard Blumenthal said yesterday the insurer paid out $218 million in bonuses, which was more than the $165 million disclosed previously. The shares dropped 36 cents, or 22 percent, to $1.26.
Boston Scientific Corp. (BSX:US): The biggest seller of drug-coated heart stents said it agreed to settle a patent suit filed by a New Jersey doctor over heart devices that resulted in a $500 million court award. Boston Scientific said its first- quarter earnings will include a $50 million pretax expense related to the settlement. The stock declined 21 cents, or 2.7 percent, to $7.56.
Concur Technologies Inc. (CNQR:US): The travel-expense software developer said its board has “complete confidence” in Chairman and Chief Executive Officer S. Steven Singh two days after the disclosure that he didn’t earn a degree from the University of Michigan. Concur fell $4.47, or 20 percent, to $18.20.
Ener1 Inc. (HEV:US): The maker of electric-car batteries may rise if the company succeeds in obtaining federal loans under President Barack Obama’s clean-energy development programs, Barron’s reported, citing no one. Ener1 shares dropped 2 cents to $4.24.
Group 1 Automotive Inc. (GPI:US): The owner of 100 U.S. and U.K. car dealerships was downgraded to B1 from Ba3 by Moody’s Investors Service, which cited weak operating performance in 2009 and increased debt from 2007’s acquisitions. Group 1 declined $1.64, or 12 percent, to $12.21.
Lorillard Inc. (LO:US): The third-largest U.S. cigarette maker may become a takeover target as its Newport brand and growth prospects attract bidders, Barron’s reported, citing Nik Modi, an analyst at UBS Securities LLC in New York. The stock rose $1.82, or 3 percent, to $62.28.
Rockwell Automation Inc. (ROK:US): The world’s largest maker of factory-automation equipment entered a three-year, $267.5 million revolving credit line with its lenders, replacing a prior five-year credit agreement. The shares dropped $1.18, or 5 percent, to $22.42.
To contact the reporter on this story.
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