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Monday, July 25, 2011

U.S. Equity Movers july 25 2011, E*Trade Financial, Iridium, Safeway, RIM

U.S. Equity Movers july 25 2011, E*Trade Financial, Iridium, Safeway, RIM ; Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 9:35 a.m. in New York.

E*Trade Financial Corp. (ETFC US) rallied 2.6 percent to $16.05. The online brokerage’s biggest shareholder, Citadel LLC, requested a meeting for shareholders to vote on removing some board members and hiring an investment bank to help arrange a sale of the company. E*Trade had said it wouldn’t call a meeting and plans to hire Morgan Stanley (MS US) to explore a sale.

Iridium Communications Inc. (IRDM US) fell 1.8 percent to $8.53. Whitney Tilson’s T2 Partners disclosed a 10 percent stake in the satellite-services provider and said it plans to pursue talks with management about capital structure, according to a filing with the SEC. T2 Partners holds about 7.04 million shares, up from its previous 6.9 million.

Kroger Co. (KR US) declined 1.8 percent to $24.86 while Safeway Inc. (SWY US) slumped 1.8 percent to $20.55. Goldman Sachs Group Inc. cut its recommendations on the grocers to “sell” from “neutral,” citing the possibility of accelerating inflation.

Research In Motion Ltd. (RIMM US) fell 2.1 percent to $27.32. The maker of the BlackBerry smartphone plans to cut about 2,000 jobs, or about a tenth of its workforce, as sales slow amid market share losses to Apple Inc.’s iPhone. For the latest updates PRESS CTR + D or visit Stock Market news Today

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