7 Popping and Dropping Stocks: Morgan Stanley Cuts 1,600 Jobs, Diamond Foods Falls 6.5% and AMR Jumps 9%

Despite becoming another airliner to file for bankruptcy, shares of American Airlines Corp. (NYSE:AMR) are jumping almost 9% early this morning.

Shares of Diamond Foods Inc. (NASDAQ:DMND) continue to fall 6.5% in early trading.  The SEC will be launching an investigation, in addition to the company’s own internal accounting investigation.

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Morgan Stanley (NYSE:MS) is trading 2.5% higher after announcing plans to cut 1,600 jobs in the first quarter of 2012.  Other banks such as Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC) are also trading higher in pre-market trading.

FedEX Corp. (NYSE:FDX) is jumping 4% after profits beat analysts’ estimates.  The company also ordered 27 Boeing Co. (NYSE:BA) 767 jet freighters to retire older planes.  Yesterday, Southwest (NYSE:LUV) ordered 208 Boeing 737s valued at $19 billion.

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On Thursday, Texas Instruments (NYSE:TXN) announced it will move its stock listing on January 1 to the Nasdaq Global Select Market.  Currently, shares trade on the New York Stock Exchange.  “This move will enhance our public visibility while offering our shareholders cost-effective access to advanced trading technologies,” Texas Instruments said.  Shares are up 1% this morning.

Shares of International Business Machines (NYSE:IBM) are edging higher after saying it would purchase Emptoris Inc., a cloud-based software firm with 725 employees.

Discover Financial Services (NYSE:DFS) is edging .15% higher after reporting fourth quarter results.  Net income for Discover Financial Services rose to $513 million (95 cents per share), compared to $349.6 million (64 cents per share) in the same quarter a year earlier. This marks a rise of 46.7% from the year earlier quarter.

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