Tomahawk, WI 9/20/2011 (PennyPayDay) – Newcastle Investment said it is planning to sell 22.5 million common shares.Shares were plunging 8.9% to $5.15 in premarket trading Tuesday.
Molycorp was downgraded to neutral from overweight by a JPMorgan analyst who has become more cautious on the rare-earth oxide producer's shares. The analyst also cut his price target for the stock to $66 from $105.
Shares were losing 6.2% to $49.70.
ConAgra Foods reported first-quarter adjusted earnings of 29 cents a share, below analysts' estimates of 31 cents.
Sales rose 9.5% to $3.1 billion.
On Monday, ConAgra said it was walking away from its $5.2 billion offer to buy Ralcorp after Ralcorp refused to sit down at the negotiating table.
Shares were losing 4.8% to $22.26.
Master limited partnership Western Gas Partners announced a public offering of 5 million common shares.
Shares were tumbling 4.2% to $35.51.
Insurance company Travelers was raised to buy from sell by Goldman Sachs.
Shares were advancing 1.5% to $50.64.
Software giant Oracle is expected by analysts to report first-quarter earnings of 46 cents a share after the markets close Tuesday, up from 42 cents a year earlier.
Shares were up 1.1% to $29.34.
Automotive replacement parts distributor AutoZone reported fourth-quarter earnings of $7.18 a share vs. the average analyst estimate of $6.97.
Shares were up 1% to $335.13.
IBM offered to make it easier for competitors to provide maintenance services for its mainframe computers, a concession to get European regulators to close an antitrust probe.
Shares were up 0.5% to $173.99.
General Motors is teaming up with SAIC Motor to build electric cars for the China market.
Shares were up 0.5% to $23.16.
Software maker Adobe is expected by analysts to post third-quarter profit of 54 cents a share Tuesday, in line with last year.
Shares were down 0.3% to $25.19.
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