AT&T, F5 Networks, Lilly, Medco, PepsiCo, Travelers: U.S. Equity Preview
Shares of the following companies may have unusual moves in U.S. trading today. Stock symbols are in parentheses, and prices are as of 6:07 p.m. in New York.
Standard & Poor’s 500 Index futures expiring in September fell 0.4 percent to 1,316.10.
American Express Co. (AXP) : The biggest credit-card issuer by purchases said second-quarter profit rose 27 percent, exceeding the average analyst forecast, as credit-card spending climbed to a record and the firm trimmed funds set aside to cover bad loans.
E*Trade Financial Corp. (ETFC US): The online retail broker said its second-quarter earnings met estimates of 16 cents a share. Citadel LLC, E*Trade’s largest shareholder, called on the online retail broker to hold a special meeting and remove two of its directors, citing “catastrophic losses” for shareholders, according to a filing earlier yesterday.
EBay Inc. (EBAY) fell 2 percent to $32.50. The world’s largest online marketplace reported a drop in second-quarter profit and forecast lower-than-anticipated earnings, a sign its acquisition spree is weighing on profits.
F5 Networks Inc. (FFIV) tumbled 7.6 percent to $103. The software maker reported revenue for the third quarter ended June 30 that trailed some analysts’ estimates.
Intel Corp. (INTC) : The world’s biggest chipmaker forecast third-quarter sales that exceeded some analysts’ estimates, buoyed by corporate computer upgrades and first-time purchases by consumers in emerging markets. Chief Executive Officer Paul Otellini, speaking in an interview, said he doesn’t see server chip demand abating.
Qualcomm Inc. (QCOM) lost 2.5 percent to $57.30. The biggest maker of mobile-phone chips forecast fourth-quarter profit and sales that may exceed analysts’ estimates, citing surging demand for phones that surf the Web.
Seagate Technology Plc (STX) fell 14 percent to $14.66. The world’s largest maker of computer disk drives said it expects fiscal first-quarter earnings, excluding certain items, of as much as 33 cents a share, below analysts’ estimates for 43 cents a share. It said it sees “significant uncertainties” in the world economy.
To contact the reporters on this story: Victoria Taylor in New York at vtaylor6@bloomberg.net; Whitney Kisling in New York at wkisling@bloomberg.net
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net
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