Movers roundup: American Capital Strategies, Avis Budget
Among the stock activity stories for Wednesday, May 7, from AP Financial News:
NEW YORK (AP) -- American Capital Strategies Ltd. shares rose after the investment firm reported adjusted first-quarter earnings that beat Wall Street expectations and announced it will cut 80 jobs amid a West Coast consolidation.
NEW YORK (AP) -- Shares of Avis Budget Group Inc. fell Wednesday, after the rental car company said it swung to a first-quarter loss and reiterated its expectation that sales will grow "modestly" in 2008.
LAKE FOREST, Calif. (AP) -- Shares of drug delivery systems developer I-Flow Corp. fell Wednesday after a Piper Jaffray analyst downgraded his rating of the company to "Sell" on concerns about continued growth.
NEW YORK (AP) -- Shares of Healthways Inc. rose more than 7 percent Wednesday after the wellness program provider said it amended its Medicare Health Support contract with the Centers for Medicare and Medicaid to allow its program to break even, rather than provide savings of 5 percent.
NEW YORK (AP) -- Pinnacle Entertainment Inc.'s stock slipped Wednesday as its first-quarter results failed to quash analysts' concerns about challenging economic conditions.
NEW YORK (AP) -- Lehman Brothers upgraded its rating on UnionBanCal Corp., saying the regional bank has been able to prepare itself for the tough credit environment.
