NYSE looking into share moves in several U.S. stocks

By Rodrigo Campos

NEW YORK, Oct 9 (Reuters) - The New York Stock Exchange saidit was looking into why at least 10 U.S.-traded securities sawtheir shares jump or dive suddenly without any news on Tuesday,only to resume their original trading pattern.

A handful of seemingly unrelated stocks, including PandoraMedia , Nokia and the Select Sector Financial SPDRexchange-traded fund , all shifted suddenly, dropping orrising by anywhere from 1.0 percent to 18 percent, between 10:30am ET and 11 a.m. ET.

"We have received calls and we are checking it out", saidNYSE spokesman Ray Pellecchia.

None of the moves resulted in temporary share halts, eventhough at least one stock, MEMC Electronic Materials hadan 18 percent move in less than a second. Two trades in MEMCtook place at less than $2 a share on Nasdaq's alternativedisplay facility, according to Thomson Reuters data.

One questionable trade occurred in Pandora at 10:58 a.m. ETat $10.43 a share, about 4.0 percent away from where the markethad been trading. This trade was also on the Nasdaq'salternative display facility. The Nasdaq did not return a callfor comment.

"I'm just noticing the pattern and noticing the stocks,"said Sal Arnuk, co-manager of trading at Themis Trading inChatham, New Jersey.

Other securities with unusual moves include Las Vegas Sands, Two Harbors Investment and Hatteras Financial.

"It definitely is raising an issue, there is chatter alongthe Street that the exchanges have lost control."

Overall, U.S. stocks were lower at midsession on Tuesday, ledby losses in the technology sector after brokerage downgrades ofIntel and other major companies amid worries aboutthird-quarter U.S. earnings.

Earnings reports for S&P 500 companies, which begin later onTuesday, may show the first quarterly drop in three years,according to analysts' estimates.

The Dow Jones industrial average was down 81.21points, or 0.60 percent, at 13,502.44. The Standard & Poor's 500Index was down 11.20 points, or 0.77 percent, at1,444.68. The Nasdaq Composite Index was down 44.75points, or 1.44 percent, at 3,067.61.

(Reporting by Rodrigo Campos and Chuck Mikolajczak; editing byDavid Gaffen and Clive McKeef)


Messaging: rodrigo.campos.thomsonreuters.com@reuters.net))