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: Quote, Profile, Research)
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: Quote, Profile, Research)
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)
© Thomson Reuters 2008 All rights reserved













