Morning Movers 10/13: Morgan Stanley (MS) Surges on Mitsubishi Deal; Financial Up Across The Board
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StreetInsider.com Morning Movers:
Morgan Stanley (NYSE: MS) 51% HIGHER; Mitsubishi UFJ Financial Group, Inc. (NYSE: MTU) closed its $9 billion equity investment in Morgan Stanley, which gives Mitsubishi UFJ a 21% ownership interest in Morgan Stanley.
National City (NYSE: NCC) 29% HIGHER; Financial higher this AM
General Motors (NYSE: GM) 27% HIGHER; bounces after brutal week
Ford Motor Co. (NYSE: F) 24% HIGHER; bounces after brutal week
Bank of America (NYSE: BAC) 14% HIGHER; Financial higher this AM
Goldman Sachs (NYSE: GS) 13% HIGHER; Financial higher this AM
Las Vegas Sands Corp. (NYSE: LVS) 14% HIGHER; Hearing upgraded at Merrill
New York & Company, Inc. (NYSE: NWY) 13% LOWER; In the third quarter to date period (August and September 2008), comparable store sales declined by 10.6%, which is significantly lower than the Company's expectations. As a result, the Company now expects to realize a loss of $4.5 million to $7.0 million, or $0.08 to $0.12 per diluted share, for the third quarter of fiscal 2008. (Consensus is $0.11 profit)
Citigroup, Inc. (NYSE: C) 12% HIGHER; Financial higher this AM
B/E Aerospace, Inc. (Nasdaq: BEAV) 12% HIGHER; sees Q3 EPS of $0.58, ex-items, with revenues and operating earnings up in excess of 35 percent and 65 percent, respectively. The Wall Street EPS consensus is $0.54. BEAV sees Q4 EPS of $0.50, ex-items, versus the consensus of $0.57. BEAV FY09 EPS of $2.00, versus the consensus of $2.22 and revenues of $2.5 billion, versus the consensus of $2.29 billion. Separately, the company announced today that Airbus has selected B/E Aerospace as its supplier of next generation galley systems for the new A350 XWB aircraft. This award is the largest award the company has ever received and is valued at more than $1 billion. Program deliveries are scheduled to begin in 2013.
Apple Inc. (Nasdaq: AAPL) 9% HIGHER; Bernstein upgrades to Outperform
Coherent, Inc. (Nasdaq: COHR) INDICATED LOWER; sees Q4 revenues of $141.0 million to $142.5 million, versus its prior revenue guidance of $154 million to $157 million and the consensus of $156 million.
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