Bear Stearns, Siemens Among Big Movers

NYSE

Bear Stearns Companies Inc., down $26.18 at $3.82 (BSC)

A $2-per-share buyout offer from JPMorgan Chase & Co., backed by the federal goverment, caused most of the investment bank's value to evaporate.

Siemens AG, down $21.06 at $103.48 (SI)

The German conglomerate said weak performance this quarter will likely pull earnings down by about euro900 million ($1.4 billion).

H&R Block Inc., up 22 cents at $17.69 (HRB)

The tax preparer will sell Option One Mortgage Corp., its struggling loan servicing business, to billionaire investor Wilbur Ross for $1.1 billion.

CME Group Inc., down $62.82 ay $423.23 (CME)

The parent of the Chicago Mercantile Exchange will buy Nymex Holdings Inc., which runs the New York Merc, for $9.5 billion in cash and stock.

Weyerhaeuser Co., up 29 cents at $62.26 (WY)

The lumber producer will sell its containerboard packaging and recycling business for $6 billion in cash to International Paper Co.

Washington Mutual, down $1.81 at $8.80 (WM)

A downgrade from Moody's Investors Service and the bailout of Bear Stearns helped drag down shares of the bank.

NASDAQ

UAL Corp., down $2.61 at $20.07 (UAUA)

The United Airlines operator raised round-trip fares by as much as $50 late last week as the price of oil hovers near all-time highs.