Financial News
Nov. 21 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading on Nov. 23. Stock symbols are in parentheses.
Standard & Poor’s 500 Index futures expiring in December rose 43.70, or 5.8 percent, to 792. Dow Jones Industrial Average futures climbed 549, or 7.3 percent, to 8,036. Nasdaq-100 Index futures added 16.75, or 1.6 percent, to 1,056.25.
Cooper Industries Ltd. (CBE:US): The maker of Crescent wrenches said fourth-quarter profit will be lower than the previous forecast range of 83 cents to 92 cents a share, citing “deteriorating business conditions” from the “unprecedented credit crisis.” The stock rose 5.8 percent to $24.13 in regular trading.
Eli Lilly & Co. (LLY:US): The pharmaceutical company lost a bid at Ontario’s highest court to limit potential damages in a lawsuit filed by patients who claimed they developed diabetes after using Lilly’s Zyprexa schizophrenia drug. The stock rose 1.7 percent to $30.43 in regular trading.
Foot Locker Inc. (FL:US): The owner of the shoe store chain had its debt rating cut to BB- from BB by Standard & Poor’s, which said a further downgrade may be possible. The stock tumbled 28 percent to $5.49 in regular trading. more