By Elizabeth Campbell and Whitney Kisling
Nov. 11 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 8:35 a.m. in New York.
Dick's Sporting Goods Inc. (DKS US) dropped 10 percent to $12.73. The largest publicly traded U.S. athletic-equipment chain was rated ``underweight'' by Morgan Stanley, which said the company has more ``margin risks than the Street expects'' into next year.
Google Inc. (GOOG) fell 2.8 percent to $310. The owner of the most popular Internet search engine had its fourth-quarter revenue forecast lowered at Goldman Sachs Group Inc., citing poor macroeconomic and consumer data in October.
Focus Media Holding Ltd. American depositary receipts (FMCN US) dropped 33 percent to $10.74. China's largest publicly traded advertising company said it expects to earn 46 cents a share at most in the fourth quarter. That trailed the 57-cent average estimate from analysts in a Bloomberg survey.
Fossil Inc. (FOSL US): The seller of namesake watches and accessories lowered its fourth-quarter earnings forecast to 70 cents a share, less than the average analyst estimate of 76 cents, because of the strengthening dollar.
Fundtech Ltd. American depositary receipts (FNDT US) fell 6 percent to $9.45. The banking software company cut its 2008 forecast and gave fourth-quarter earnings and sales estimates below the average of analysts surveyed by Bloomberg, saying sales from ``large global bank customers'' will be lower than expected.
Genworth Financial Inc. (GNW US) declined 19 percent to $2.20. The insurer spun off by General Electric Co. said it's no longer eligible to participate in a federal program that buys short-term debt because its credit ratings were cut.
KKR Financial Holdings LLC (KFN US) lost 36 percent to $2.10. The debt-investment affiliate of private-equity firm KKR & Co. halted its dividend and arranged $400 million in loans from banks and KKR to pay off other debts. Citigroup Inc. cut its rating to ``sell'' from ``hold.''
Optimer Pharmaceuticals Inc. (OPTR US) surged 72 percent to $7.90. The company said its anti-infective drug candidate, OPT- 80, helped patients in a study with a drug-resistant intestinal superbug.
Sangamo BioSciences Inc. (SGMO US) fell 62 percent to $2.50. The company said tests of a treatment for diabetic neuropathy showed ``no significant differences'' between people receiving the drug and those given placebos.
Starbucks Corp. (SBUX US) dropped 9.5 percent to $9.23. Chief Executive Officer Howard Schultz backed away from his goal of opening 40,000 stores after the world's largest chain of coffee shops reported fourth-quarter profit that plunged 96 percent.
Toll Brothers Inc. (TOL US) lost 5.7 percent to $17.87. The largest U.S. luxury homebuilder posted the 10th consecutive quarterly drop in revenue and said it's ``not comfortable'' giving forecasts.
Tyson Foods Inc. (TSN US) fell 11 percent to $5.93. The second-largest U.S. chicken producer was cut to ``underweight'' from ``overweight'' at JPMorgan Chase & Co., which said the shares may fall 40 percent as losses next year endanger the company's ability to meet its debt agreements.
Wynn Resorts Ltd. (WYNN US) gained 3.6 percent to $48.50. The biggest U.S. casino company by market value was picked to replace Ashland Inc. (ASH US) in the Standard & Poor's 500 Index. Dentsply International Inc. (XRAY US), which will take the place of Hercules Inc. (HPC US) in the benchmark, rose 4.1 percent to $30.30 in extended trading yesterday.
To contact the reporters on this story: Elizabeth Campbell in New York at ecampbell11@bloomberg.net; Whitney Kisling in New York at wkisling@bloomberg.net
Last Updated: November 11, 2008 09:16 EST
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