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Bankrate: decline of free checking accelerates

Shares of the following companies may have unusual moves in U.S. trading tomorrow. Stock symbols are in parentheses and prices are as of 7:30 a.m. New York time.

Banks advanced amid speculation that the European Central Bank may restart covered-bond purchases next week and cut interest rates next month. Deutsche Bank AG (DB US) jumped 8.6 percent to $34.03. Morgan Stanley (MS US) climbed 2.1 percent to $14.01. Goldman Sachs Group Inc. (GS US) rose 3.2 percent to $98.27. Bank of America Corp. (BAC US) increased 3.3 percent to $6.52.

UBS AG (UBS US) advanced 3.7 percent to $11.67. The largest Swiss bank's Chief Executive Officer Oswald Gruebel quit this weekend, and interim CEO Sergio Ermotti said one of his first priorities was to complete a review of “operational risk infrastructure.”

Advanced Micro Devices Inc. (AMD US) rose 3.1 percent to $6.36. The second-largest maker of processors for personal computers was raised to “buy” from “neutral” at UBS AG, which cited expectations for improved execution to drive margins.

Apple Inc. (AAPL US) fell 0.9 percent to $400.65. The world's biggest company by market value is cutting orders to vendors in the supply chain for its iPad tablet computer, a move that may result in slower sales for companies including Hon Hai Precision Industry Co. (2317 TT), JPMorgan Chase & Co. said in a report.

CH Energy Group Inc. (CHG US): The natural gas and electric utility company boosted its quarterly dividend to 55.5 cents a share, compared with the 54-cent Bloomberg forecast.

Clorox Co. (CLX US) declined 5.5 percent to $65.60. Carl Icahn, the bleach maker's largest investor, withdrew his director slate for the company after concluding that shareholders wouldn't support the move.

Eastman Kodak Co. (EK US) slumped 18 percent to $1.96. The cost to protect the 131-year-old camera maker debt from default rose to the highest level in more than a month after the company drew down $160 million from its revolving bank line.

Expedia Inc. (EXPE US): The online travel site was boosted to “overweight” from “neutral” at Piper Jaffray Cos.

Goodrich Corp. (GR US): The maker of aircraft landing gear and jet-turbine casings was cut to “equal weight” from “overweight” at Morgan Stanley, which said it sees no potential for further gains after the announced acquisition by United Technologies Corp. (UTX US). Morgan Stanley said United Technologies is now its top pick in the aerospace industry.

McKesson Corp. (MCK US): The drug distributor may be oversold and may rise to $90 a share as the company improves profitability with generic product growth, Barron's reported in its “The Trader” column, citing Morgan Stanley Smith Barney's Marshall Kaplan.

Netflix Inc. (NFLX US) gained 5.2 percent to $136.06. The mail-order and online film-rental service completed an agreement in which Dreamworks Animation SKG will supply films and television specials, the New York Times reported. Netflix was raised to “buy” from “neutral” at Merriman Capital Inc.

Pfizer Inc. (PFE US): The world's largest drugmaker had its ratings cut by Fitch Ratings, which said Pfizer's efforts to lower debt since its 2009 acquisition of Wyeth has lagged behind expectations. The long-term issuer default rating was cut to A+ from AA-.

Transatlantic Holdings Inc. (TRH US): The reinsurer is close to terms on a confidentiality agreement with Validus Holdings Ltd. (VR US) that would let them open talks on a possible merger, according to Reuters, which cited sources familiar with the situation.