Morning Movers 1/26: Barclays plc (BCS) Up After Easing Concerns; Rohm and Haas (ROH) Slammed As Dow Walks

January 26, 2009 9:50 AM EST

StreetInsider.com Morning Movers:

Barclays plc (NYSE: BCS) 59% HIGHER; Addresses market concerns. Barclays sees "significant" pretax profits in 2008 and is not seeking any further capital raises. The company is also pushing up the reporting of 2008 financial results to Monday, 9th February.

Rohm and Haas Company (NYSE: ROH) 15% LOWER; has been advised by The Dow Chemical Company (NYSE: DOW) that Dow does not intend to close the pending acquisition of Rohm and Haas on or before Tuesday, January 27, 2009. Rohm and Haas and Dow have received all required approvals for the closing and the merger agreement requires that Dow close by such date. Rohm and Haas stated that it intends to pursue all available alternatives to protect its shareholders' interests.

Crucell N.V. (NASDAQ: CRXL) 10% LOWER; announced that Wyeth (NYSE: WYE) has withdrawn from discussions regarding a potential combination of the two companies after being acquired by Pfizer in a $68 billion deal.

Caterpillar Inc. (NYSE: CAT) 9% LOWER; reports Q4 EPS of $1.08, versus the consensus of $1.30. Revenues came in at $12.9 billion, versus the consensus of $12.77 billion. Caterpillar is cutting 20,000 jobs. Sees 2009 adj-EPS of $2.50, well below the consensus of $4.32.

Applied Industrial Technologies (NYSE: AIT) 8% HIGHER; reports Q2 EPS of $0.38, 4 cents better than the analyst estimate of $0.34. Revenue for the quarter was $502.41 million, versus the consensus of $524.68 million. Lowers its FY09 sales guidance from $2.2-$2.3 billion to $1.95-$2.1 billion, versus the consensus of $2.14 billion. EPS for the year move from $1.90-$2.15 to $1.30-$1.70, versus the Street estimate of $1.52.

Pfizer (NYSE: PFE) 7% LOWER; agreed to acquire Wyeth (NYSE: WYE) in a cash-and-stock transaction currently valued at $50.19 per share, or a total of approximately $68 billion.

Celera Corporation (NYSE: CRA) 7% HIGHER; Cramer highlights on Mad Money

Lennar Corp. (NYSE: LEN) 5% HIGHER; Citi upgrades Lennar from Hold to Buy with an $11 price target, saying the sell-off is overdone.

The Home Depot (NYSE: HD) 5% HIGHER; will exit its EXPO business. The Company is also taking steps to streamline its support functions. These decisions will impact 7,000 associates, or approximately 2% of the Company's total workforce. Finally, the Company today reaffirmed its previous guidance on EPS for FY08

Geron Corporation (Nasdaq: GERN) 5% HIGHER; continues Friday's 36% run-up, after the FDA cleared the world's first human clinical trial of embryonic stem cell-based therapy.

The Dow Chemical Company (NYSE: DOW) 2.2% HIGHER; does not intend to close the pending acquisition of Rohm and Haas on or before Tuesday, January 27, 2009.

Wyeth (NYSE: WYE) 2% HIGHER; Pfizer (NYSE: PFE) agreed to acquire Wyeth (NYSE: WYE) in a cash-and-stock transaction currently valued at $50.19 per share, or a total of approximately $68 billion.

McDonald's Corporation (NYSE: MCD) 2% LOWER; reports Q4 EPS of $0.87, 4 cents better than the analyst estimate of $0.83. Revenue for the quarter was $5.57 billion, versus the consensus of $5.70 billion. Comps during the quarter rose 7.2%, fueled by the U.S. 5.0%, Europe 7.6% and Asia/Pacific, Middle East and Africa 10.0%.

Kimberly-Clark Corporation (NYSE: KMB) 2% LOWER; reports Q4 adj-EPS of $1.01, 2 cents lower than the analyst estimate of $1.03. Revenue for the quarter was $4.6 billion, versus the consensus of $4.66 billion. Sees FY09 organic sales growth in the low single digits. Net sales are expected to decline 4-5% over the year, with non-GAAP EPS in the range of $4.00-$4.20, versus the Street estimate of $4.55.

Bed Bath & Beyond, Inc. (Nasdaq: BBBY) 1.5% LOWER; JP Morgan downgrades to Underweight

JPMorgan Chase & Co. (NYSE: JPM) 1.5% HIGHER; Goldman resumes with a Buy, adds to Buy List

Sprint Nextel Corp. (NYSE: S) 1% HIGHER; announced that the company will take actions in the first quarter of 2009 to reduce internal and external labor costs by approximately $1.2 billion on an annualized basis. The actions include the elimination of approximately 8,000 positions within the company, which is expected to be largely completed by March 31. The positions to be eliminated will impact all levels of the company, and the impact on geographic locations will vary.

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