HEADLINE STOCKS-U.S. stocks on the move on June 18
(Updates to regular session, adds Morgan Stanley and Fifth Third Bancorp)
NEW YORK, June 18 (Reuters) - Some U.S. stocks on the move on Wednesday:
MORGAN STANLEY (MS.N: Quote, Profile, Research)
The second-largest U.S. investment bank on Wednesday said quarterly earnings dropped by more than 50 percent on trading losses and a slowdown in investment banking, despite $1.43 billion of pretax gains from asset sales. For details, see [ID:nN18442679]
Morgan Stanley shares were down 3.4 percent to $39.26 on the New York Stock Exchange.
MEDECISION MEDE.O
The stock more than tripled on Wednesday on news that the healthcare technology company agreed to be bought by insurer Health Care Service Corp for about $121 million, or $7 a share. The price was more than four times the closing price of the stock on Tuesday.
MEDecision shares were up 280.1 percent at $6.50 on Nasdaq. [ID:nBNG315636]
FIFTH THIRD BANCORP (FITB.O: Quote, Profile, Research)
The company, a large U.S. regional bank, said it plans to raise at least $2 billion in capital and slash its dividend 66 percent to cope with mounting credit losses. [ID:nBNG86797]
Its stock dropped more than 14 percent to $10.91 on Nasdaq. Earlier the stock slid by as much as 18.6 percent to their lowest level since 1995.
FEDEX CORP (FDX.N: Quote, Profile, Research)
The package delivery company on Wednesday forecast a weak fiscal 2009 after posting a quarterly loss it blamed on rising fuel prices, an ailing U.S. economy and a previously announced write-down. [ID:nN18406319]
FedEx shares dropped 2.7 percent to $82.02 on the NYSE.
GOLDMAN SACHS (GS.N: Quote, Profile, Research)
A number of brokers raised their price targets on the largest U.S. investment bank, a day after it reported stronger-than-expected results. [RCH/US]
Goldman shares rose 1.6 percent to $182.23 on the NYSE.
YRC WORLDWIDE (YRCW.O: Quote, Profile, Research)
The stock jumped more than 5 percent to $17.69 on Nasdaq after the trucking company forecast second-quarter earnings per share to beat Wall Street estimates. [ID:nWNAS8571]
PANERA BREAD CO (PNRA.O: Quote, Profile, Research)
Panera raised its second-quarter earnings outlook on Tuesday, citing better-than-expected sales growth, but trimmed its outlook for the back half of the year due to rising gasoline costs. [ID:nN17399938]
Shares of the restaurant chain operator were up more than 7.1 percent at $48.79 on Nasdaq.
NORTHWEST AIRLINES CORP NWA.N
The stock dropped more than 4 percent to $6.49 on the NYSE after the U.S. carrier said it would cut the number of seats for sale in the fourth quarter and reduce its work force as it struggles with sky-high fuel costs. [ID:nN17389756] (Reporting by Ellis Mnyandu)
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