/Lyondell Chemical, Stanley Furniture Among Big Movers on Wall Street

Lyondell Chemical, Stanley Furniture Among Big Movers on Wall Street

NEW YORK (AP) – Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE
Lyondell Chemical Co., up $6.93 at $47.05.
Dutch chemicals company Basell agreed to acquire U.S. rival Lyondell for $12.1 billion in cash. Including debt, the deal’s size totals about $19 billion.


Rohm & Haas Co., up $5.54 at $61.27.

The paint and chemicals maker announced plans to repurchase $2 billion in stock. The company plans to first begin an accelerated $1 billion buyback in the third quarter.

Nautilus Inc., down $2.04 at $9.90.

The fitness-equipment maker reported weak second-quarter earnings and an RBC Capital Markets analyst said results might not improve in the second half of the year.

NASDAQ

IPC Holdings Ltd., down $2.21 at $29.90.

The Bermuda-based reinsurance company warned investors that its second-quarter earnings would be hurt by June storms and flooding in Australia and Britain.

Stanley Furniture Co., down $2.57 at $19.16.

The furniture maker reported weak second-quarter earnings and reduced its forecast amid a weak housing market.

Encysive Pharmaceuticals Inc., up 33 cents at $2.03.

The biopharmaceutical company said it retained Morgan Stanley to help evaluate the company’s options for boosting shareholder value. Often such pronouncements can mean a company will put itself up for sale.