Unusual 11 Mid-Day Movers 10/8: HMY, PSPT, GFI, RBS Higher; XL, STEI, AA, LNN Lower
XL Capital (NYSE: XL) 38% LOWER; Goldman Sachs removed XL Capital from its Conviction Buy List this morning.
Harmony Gold Mining Co. Ltd. (NYSE: HMY) 28.3% HIGHER; Gold is about $23 higher today as the flight to safety trade continues.
Stewart Enterprises (Nasdaq: STEI) 26.7% LOWER; Service Corporation International (NYSE: SCI) withdraws its previous proposal of $11 per share for Stewart Enterprises.
PeopleSupport, Inc. (Nasdaq: PSPT) 22.7% HIGHER; yesterday announced the closing under the merger agreement by which Essar Services will acquire PeopleSupport is expected to take place no later than October 31, 2008.
Alcoa Inc (NYSE: AA) 16.9% LOWER; reports Q3 EPS of $0.33, or $0.37 ex-items, versus the analyst estimate of $0.54. (The earnings included a $0.06 negative impact from currencies) Revenues for the quarter were $7.2 billion, versus the consensus of $7.23 billion. Suspends share buyback.
Gold Fields (NYSE: GFI) 15.7% HIGHER; see Harmony Gold.
Lindsay Corporation (NYSE: LNN) 14.7% LOWER; reports Q4 EPS of $0.90, versus the analyst estimate of $0.70. Revenues for the quarter were $147.2 million, versus the consensus of $111.91 million.
General Motors (NYSE: GM) 12.7% LOWER; Citi downgraded GM from Hold to Sell this morning and cut estimates on the car-maker's suppliers.
Royal Bank of Scotland (NYSE: RBS) 8.7% HIGHER; correcting today after falling more than 50% yesterday.
Monsanto (NYSE: MON) 7.3% HIGHER; reports a Q4 adjusted-loss of $0.03, 6 cents better than the analyst estimate of ($0.09). Revenues for the quarter were $2 billion, versus the consensus of $1.92 billion. Sees FY09 EPS guidance of $4.20-$4.40, versus the consensus of $4.62.
MGM MIRAGE (NYSE: MGM) 6.4% HIGHER; casino & gaming stocks are extremely volatile today on the back of the worldwide rate cut announcement.
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