Honeywell, EBay, ImClone among big movers

NEW YORK

Monday, 06 October 2008 21:07:46

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Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Honeywell International Inc., down $1.92 at $35.92

The conglomerate in a business update said it expects business jet deliveries to peak in 2009.

Hartford Financial Services Group Inc., up $3.50 at $30.90

The struggling insurer predicted a big third-quarter loss and cut its dividend, but received a $2.5 billion investment from European insurer Allianz.

Citigroup Inc., down 94 cents at $17.41

A state appeals court blocked a lower court ruling favoring Citi, clearing the way for rival Wells Fargo's takeover of Wachovia Corp.

MasTec Inc., down $1.67 at $10.36

Shares slid, even as the communication and utility infrastructure builder said it will pay $200 million for Wanzek Construction Inc. and raised its fiscal 2008 outlook.

NASDAQ

EBay Inc., down $1.05 at $17.89

The online auction site will cut about 1,000 jobs or 10 percent of its work force, which should generate $150 million in annual cost savings.

ImClone Systems Inc., up $1.93 at $66.89

Eli Lilly & Co. agreed to buy the biotechnology company in a deal worth more than $6 billion, or $70 per share, to increase its oncology offerings.

Double-Take Software Inc., down $1.51 at $7.24

The maker of software for guarding against data loss trimmed its third-quarter adjusted earnings and revenue outlook after customers in Europe and the U.S. delayed deals.

Netflix Inc., down $2.48 at $26.49

A weakening economic environment caused the online movie rental service to slash its fourth-quarter revenue and subscriber forecasts.