Dow Chemical, Genzyme, Hologic, Pfizer: 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. in New York.
Applied Materials Inc. (AMAT US) fell 1.7 percent to $11.80. The largest maker of machinery used to manufacture chips was cut “neutral” from “buy” at UBS AG. The share-price estimate is $13.
Cognizant Technology Solutions Corp. (CTSH US) jumped 11 percent to $61.28. The provider of information- technology services forecast third-quarter earnings excluding some items of 63 cents. That compares with the average analyst estimate in a Bloomberg survey of 56 cents.
Dow Chemical Co. (DOW US) lost 3.6 percent to $27.32. The largest U.S. chemical maker reported second-quarter profit that trailed analysts’ estimates after adverse weather cut demand for seeds and crop chemicals in North America and Europe. Profit excluding some items was 54 cents, less than the 57-cent average estimate of 11 analysts in a Bloomberg survey.
Genzyme Corp. (GENZ US) gained 1.4 percent to $71.33. The world’s largest maker of medicines for genetic diseases has begun takeover talks with Sanofi-Aventis SA after receiving a proposal from the French drugmaker, according to two people with knowledge of the matter. Sanofi, based in Paris, outlined an offer of $67 to $70 a share in a letter to Genzyme’s board, said one of the people.
Herbalife Ltd. (HLF US) surged 8.7 percent to $53.49. The seller of nutritional and weight-loss supplements increased its full-year forecast after second-quarter profit exceeded analysts’ estimates.
Hologic Inc. (HOLX US) gained 2.5 percent to $14.95. The maker of mammography equipment reported third-quarter profit excluding some items of 30 cents a share, beating the average analyst estimate in a Bloomberg survey by 1 cent.
Kinross Gold Corp. (KGC US) fell 3.9 percent to $15.70. The Canadian gold producer agreed to acquire all the shares of Red Back Mining Inc. (RBI CN) it doesn’t already own in a transaction with a value of about $7.1 billion.
Oplink Communications Inc. (OPLK US) surged 15 percent to $18.87. The maker of fiber-optic equipment forecast first-quarter earnings excluding some items of at least 36 cents a share, beating the 25-cent average analyst estimate in a Bloomberg survey.
Pfizer Inc. (PFE US) rose 2.1 percent to $15.81. Second-quarter earnings beat analyst estimates after the drugmaker lowered costs and sales were boosted by products from its acquisition of Wyeth. Profit excluding certain items was 62 cents a share, beating the 52-cent average estimate of 15 analysts surveyed by Bloomberg.
Principal Financial Group Inc. (PFG US) declined 3.4 percent to $25.20. The Des Moines, Iowa-based life insurer posted profit excluding some items of 63 cents a share, trailing the average analyst estimate by 4.6 percent, according to Bloomberg data.
Procter & Gamble Co. (PG US): dropped 3.3 percent to $60. The world’s largest household-products maker forecast first-quarter profit that fell short of analysts’ projections as some consumers limit spending on name brands. Profit, excluding some items, will be as much as $1.01 a share. That compared with the $1.05-average of estimates compiled by Bloomberg.
Sourcefire Inc. (FIRE US) gained 5 percent to $22.65. The network-security company will replace ADPT Corp. (ADPT US) in the Standard & Poor’s 600 SmallCap Index, S&P announced. The change will take place after the close of trading on Aug. 4. The Nasdaq Stock Market is delisting ADPT as of Aug. 5.
Sykes Enterprises Inc. (SYKE US) tumbled 31 percent to $10.52. The operator of call centers projected third- quarter profit excluding some items of 26 cents a share at most, short of the average estimate of 43 cents from analysts in a Bloomberg survey.
TNS Inc. (TNS US) slumped 31 percent to $10.52. The provider of data communications to credit-card-payment processors reduced its full-year sales forecast after second-quarter profit excluding some items missed analysts’ estimates.