Amazon, Clearwire, Imax, JPMorgan, Myriad: U.S. Equity Preview

Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 7:45 a.m.

Amazon.com Inc. (AMZN US) advanced 0.7 percent to $157.60. The Web retailer was cut to “hold” from “buy” at Benchmark Co.

Chevron Corp. (CVX US) slipped 0.2 percent to $83.68. The second-largest U.S. energy company said third-quarter earnings were eroded by a weakening U.S. dollar, costs associated with a deep-water drilling ban and lower prices for crude. Separately, the company has moved up a planned maintenance shutdown at its lube oils plant in Richmond, Virginia that was scheduled for January, according to an article in Lube Report.

Clearwire Corp. (CLWR US) rose 7.6 percent to $7.26. The high-speed wireless carrier is seeking to raise $2.5 billion to $5 billion in a wireless spectrum auction that has attracted telephone and cable companies, said people with direct knowledge of the sale. AT&T Inc. (T US), Verizon Communications Inc. (VZ US), Deutsche Telekom AG (DTE GR), Time Warner Cable Inc. (TWC US) and Clearwire’s majority owner, Sprint Nextel Corp. (S US), are among potential buyers of the spectrum, the people said.

CSX Corp. (CSX US) gained 3.4 percent to $59.18. The second-largest publicly traded U.S. railroad reported third- quarter profit excluding some items of $1.08 a share, beating the average analyst estimate of $1.04. The railroad is “actively hiring” workers as the economy slowly improves and may add as many as 3,000 next year, Chief Executive Officer Michael Ward told CNBC.

General Electric Co. (GE US) rose 0.6 percent to $17.30. The company, whose equipment generates a third of the world’s electricity, said its lighting unit may draw as much as 75 percent of sales from LED products within the next decade, compared with less than 10 percent now, the division’s chief Michael Petras said in an interview.

Imax Corp. (IMAX US): The maker of technology to project movies onto giant screens signed a joint venture with Germany’s CinemaxX AG (MXC GR) to open a theater in Bremen in November, according to a statement from Imax. The company plans to open at least four more theaters in Germany and to expand its presence in Europe, the Middle East and Africa.

Intel Corp. (INTC US) advanced 1.2 percent to $20.01. The world’s biggest chipmaker said fourth-quarter sales may total as much as $11.8 billion, compared with the average analyst estimate of $11.3 billion, citing strong demand from businesses and customers in emerging economies.

JPMorgan Chase & Co. (JPM US) gained 1.1 percent to $40.84. The second-biggest U.S. bank by assets said third-quarter profit rose 23 percent to $4.42 billion, or $1.01 a share, from $3.59 billion, or 82 cents a share, in the year-ago quarter. Earnings beat the average analyst estimate of 88 cents a share.

Linear Technology Corp. (LLTC US) fell 4 percent to $30.30. The maker of integrated circuits reported fiscal first-quarter profit excluding some items of 59 cents a share, missing the average analyst estimate of 60 cents.

MGM Resorts International (MGM US) declined 5.3 percent to $12.89. The biggest casino operator on the Las Vegas Strip plans to raise more than $500 million by selling stock, and said its founder and biggest shareholder will reduce his stake.

Myriad Genetics Inc. (MYGN US): The maker of a test for detecting inherited breast cancer was raised to “outperform” from “sector perform” at RBC Capital Markets Corp. by equity analyst Michael Yee. The firm said Myriad may be a takeover target over the longer term for Roche Holding AG (ROG VX), AstraZeneca Plc (AZN LN), Sanofi-Aventis SA (SAN FP), or a diagnostic company. The 12-month price estimate is $23 as Yee expects Myriad management to reiterate its 2011 forecast.

Qualcomm Inc. (QCOM US): The largest maker of wireless- phone chips said its wholly owned subsidiary, Qualcomm Innovation Center Inc., has acquired iSkoot Technologies Inc. Terms of the purchase weren’t disclosed.

To contact the reporter on this story: Tara Lachapelle in New York at tlachapelle@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.

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