BEFORE THE BELL-2: US HOT STOCKS TO WATCH

21st Jun 2010 10:41

Among the companies expected to actively trade in Monday's session are Anadarko Petroleum Corp. (APC), BP PLC (BP, BP.LN) and CNB Financial Corp. (CCNE). Anadarko late Friday called the oil spill in the Gulf of Mexico "preventable and the direct result of BP's reckless decisions and actions," allegations that BP immediately rejected. The public sparring came as Moody's Investors Service downgraded the U.S. oil producer's ratings to junk territory, citing uncertainty about its possible 25% share of the cleanup costs and financial liabilities resulting from the spill. Anadarko's shares gained 1.3% to $43.11 in late trading while BP's American depositary shares fell 0.8% to $31.50. CNB Financial Corp. (CCNE) said it would sell 3.37 million shares at $10.25 each, a steep 13% discount to Friday's closing price. The bank holding company said it would use the proceeds for general purposes, including expanding its business and investments in its subsidiary. Shares fell 2.9% to $11.41 in very light after-hours trading. Watch List: AstraZeneca PLC (AZN) said it would settle a class-action suit about its pricing for wholesale drugs for $103 million although it believes its pricing and marketing practices were lawful. Online-travel company Expedia Inc. (EXPE) said it will add 130 new jobs to its Las Vegas operations by the end of the month, bringing the total there to 500 employees. The company is taking advantage of incentives under the federal Hiring Incentives to Restore Employment Act, designed to create or restore jobs for unemployed individuals. Tongjitang Chinese Medicines Co. (TCM), a Chinese specialty pharmaceutical company, said its first-quarter revenue increased 26% in local currency as it expanded into community hospitals, though its loss widened. -By Dow Jones Newswires; write to [email protected] (END) Dow Jones Newswires June 21, 2010 05:41 ET (09:41 GMT)