STOCKS NEWS US-Matrixx expects additional lawsuits

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity news U.S. stock market report 1455 ET 06July2009-Matrixx expects additional lawsuits ------------------------------------------------------------------------------ Matrixx Initiatives Inc shares tumbled 12.5 percent to $5.67 on Monday after the company said late Thursday that it expects additional lawsuits will be filed against it regarding its Zicam nasal gel products. The company had voluntarily withdrawn two of its existing Zicam products after the U.S. Food and Drug Administration issued a warning letter that the products could cause a loss of smell. Reuters Messaging:rm://[e-mail] 1442 ET 06July2009-BofA-Merrill upgrades Western Digital, Seagate ------------------------------------------------------------------------------ Bank of America-Merrill Lynch upgraded Western Digital Corp and Seagate Technology to "buy" from "underperform," citing improving hard disk drive (HDD) fundamentals and substantial operating leverage based on supply chain rationalization and cost reductions. The brokerage said its conclusions were based on improved pricing in desktop and notebook space on capacity reductions, continued low inventory levels for manufacturers and signs of stabilization in PC build plans. The brokerage believed recent share performance for both companies should continue and expected another run in the shares, driven primarily by leverage and positive earnings estimate revisions. For details, see Shares of Seagate dropped 3.2 percent to $9.95 while Western Digital was down 0.8 percent to $16.01. Reuters Messaging: [e-mail] 1420 ET06July2009-Smithfield slides after plant fire ------------------------------------------------------------------------------ Smithfield Foods Inc shares slid on Monday after the world's largest pork processor and hog producer said its Patrick Cudahy meat packing plant in Wisconsin was extensively damaged by fire but employees were able to escape unharmed. Smithfield shares fell 4.4 percent to $13.10 while rivals Hormel Foods Corp gained 0.5 percent to $34.70 and Tyson Foods Inc added 0.1 percent to $12.67. Reuters Messaging:rm://[e-mail] 1414 ET 06July2009-FormFactor climbs after upgrade ------------------------------------------------------------------------------ FormFactor Inc shares rose on Monday after Oppenheimer upgraded the stock, citing checks confirming an oder recovery in the near future. The firm upgraded the maker of wafer probe cards to "outperform" from "perform" and boosted its price target on the stock to $30, citing checks indicating Formfactor gained visibility after wafer probe orders tripled sequentially from its largest customer, Elpida, for the third-quarter. Shares climbed 6.2 percent to $19.79. Reuters Messaging:rm://[e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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