Bloomberg StockWatch-Following equities may move.Dell up 2.5 in FRA.
U.S. Equity Preview: Citrix, DaimlerChrysler, Dell, Xylan
New York, March 2 (Bloomberg) -- The following is a list of companies whose shares may move in U.S. markets today. U.S. Equity Preview includes news that broke after the markets closed yesterday. Yesterday's closing prices are included. The stock symbol is in parentheses after the company name.
Prices for U.S. stocks that are making significant gains or losses in European trading are at the top of the list. Some are provided by Madoff Securities International Ltd.
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Dell Computer Corp. (DELL) rose 1.8 euros, or 2.5 percent, to 74.1, rising as high is 74.6 in Frankfurt. The No. 1 direct seller of personal computers this week will unveil a new site on the Internet aimed at selling a broad range of computer equipment straight to consumers. Dell rose 7/16, or 0.6 percent, to 80 9/16 in the U.S. yesterday.
Citrix Systems Inc.'s (CTXS) German shares gained 2.5 euros, or 3.5 percent, to 73.5. The software maker said it will carry out a 2-for-1 stock split on or about March 25 for shareholders of record March 17. Citrix rose 1 1/2, or 1.9 percent, to 78 5/8 in the U.S. yesterday.
DaimlerChrysler AG (DCX) fell 0.9 euro, or 1.1 percent, to 82.3 in Frankfurt, falling as low as 82.1. Two vice presidents at the world's No. 5 automaker resigned to take jobs at rival Ford Motor Co. (F), bringing to five the number of high-level former Chrysler Corp. executives who have left since the U.S. company was acquired by Daimler-Benz AG for $36 billion in November. DaimlerChrysler fell 2 7/8, or 3.1 percent, to 91 1/16. Ford fell 15/16, or 1.6 percent, to 58 3/8.
Micron Electronics Inc. (MUEI) rose 0.2 euro, or 1.6 percent, to 13 in Germany, falling as low as 12.95. The No. 3 direct seller of personal computers said its fiscal second- quarter sales and earnings will be lower than expected because of falling PC sales. Micron Electronics rose 1/16, or 0.4 percent, to 14 7/16 in the U.S. yesterday before trading was halted.
Whirlpool Corp. (WHR) slipped 2.1 euros, or 5.4 percent, to 37.1 in Germany. The world's top maker of large appliances said it won't shed its Brazilian compressor-manufacturing unit and expects double-digit earnings for the first quarter and full year. The company also said it will buy back as much as $250 million in stock and plans to make changes to its Brazilian balance sheet to reduce risk from currency fluctuations in that country. Whirlpool fell 2 1/2, or 5.8 percent, to 41 in the U.S. yesterday.
Xylan Corp's (XYLN) surged 8 1/16 to 35 in European trading, Madoff said. Its German shares rose 9.5 euros, or 40.4 percent, to 33, rising as high as 34.5. Alcatel SA, Europe's No. 2 phone-equipment maker, said it will buy rival Xylan, paying $37 for each remaining share, a 37 percent premium over Xylan's closing price Monday. The move will boost Alcatel's business that links computers to phone networks and the Internet. Xylan rose 7/16 to 26 15/16 in the U.S. yesterday.
Adac Laboratories (ADACE): The largest U.S. maker of nuclear imaging equipment used in medical diagnosis said it restated its financial results for fiscal 1996, 1997 and the first three quarters of 1998. PricewaterhouseCoopers, Adac's accounting firm, told the company in December that it needed to record some past revenue closer to the time it actually received payments. Adac rose 1/2, or 2.8 percent, to 18 3/8.
Public Service Co. of New Mexico (PNM): New Mexico's largest utility said the State Supreme Court overturned a ruling that would have required the company to open its electric lines to a competitor. The court also agreed to continue considering repealing another state Public Utility Commission order requiring PNM to cut its electric rates. PNM rose 3/8, or 2.4 percent, to 15 1/4.
Transportation Components Inc. (TUI): The distributor of commercial-truck parts said its fourth-quarter net income was 8 cents a share, less than the 13-cent average estimate of three analysts surveyed by First Call Corp. Transportation Components fell 3/16, or 5 percent, to 3 9/16.
Shop At Home Inc. (SATH): The No. 3 U.S. home-shopping retailer agreed to buy Bridgeport, Connecticut, television station WBPT, which reaches about 570,000 cable subscribers, from Paxson Communications Corp. Terms weren't disclosed. The shares were unchanged in Germany. Shop At Home fell 1, or 7.1 percent, to 13 1/8 in the U.S. yesterday.
Walter Industries Inc. (WLT): The homebuilder, mine operator and maker of water transmission products said it hired investment-banking firm Salomon Smith Barney Inc. to ''pursue strategic alternatives'' for its Jim Walter Resources coal-mining and methane-gas unit. Walter Industries fell 1/16, or 0.5 percent, to 12 3/16.
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