AnnTaylor, Itron, Motorola, Philip Morris: 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 7:50 a.m.
Abercrombie & Fitch Co. (ANF US): The teen clothing retailer was given a new “outperform” rating at FBR Capital Markets Corp. The 12-month price estimate is $49.
AnnTaylor Stores Corp. (ANN US): The women’s apparel chain was given a new “outperform” rating by FBR Capital Markets Corp. and added to its list of top stock picks.
Constellation Brands Inc. (STZ US): The world’s largest winemaker said it had second-quarter profit of 52 cents a share excluding some items, beating the 49 cent average estimate of analysts surveyed by Bloomberg.
Diamond Foods Inc. (DMND US): The nut processor and distributor said 2011 profit excluding some items may be as low as $2.38 a share, compared with the average analyst estimate of $2.45 a share.
Equinix Inc. (EQIX US) fell 23 percent to $80.89. The operator of Internet data centers said third-quarter sales were no more than $330 million, compared with the average analyst estimate of $336.6 million.
General Maritime Corp. (GMR US): The provider of seaborne crude-oil transportation services cut its quarterly dividend to 1 cent a share from 8 cents as it amended a credit facility.
Itron Inc. (ITRI US): The largest U.S. maker of utility meters was raised to “hold” from “sell” at Stifel Nicolaus & Co.
Lockheed Martin Corp. (LMT US): The world’s largest defense contractor said its F-35 Joint Strike Fighter resumed flight tests after corrections were made to a software flaw with the jet’s fuel pumps.
M&T Bank Corp. (MTB US) slipped 3.7 percent to $80. Allied Irish Banks Plc said it will start selling its 22.4 percent stake in the Buffalo, New York-based lender, valued at $2.2 billion, in a U.S. public offering.
Maidenform Brands Inc. (MFB US): The maker of women’s undergarments was cut to “hold” from “buy” at BB&T Corp.
Motorola Inc. (MOT US): The communications-equipment maker may spin off its mobile-phone business early in the first quarter of next year, co-Chief Executive Officer Sanjay Jha said in an interview.
OGE Energy Corp. (OGE US): The owner of Oklahoma’s electric and gas utility and ArcLight Capital Partners LLC said they agreed for an ArcLight affiliate to acquire a 9.9 percent equity ownership stake in Enogex, OGE Energy’s midstream natural gas pipeline subsidiary.
Philip Morris International Inc. (PM US): The world’s largest publicly traded tobacco company said it will review conditions set forth by Colombia’s superintendent of industry and trade on its proposed purchase of Productora Tabacalera de Colombia, Protabaco Ltda. A decision is expected within the next three months, Philip Morris said in a statement.
Riverbed Technology Inc. (RVBD US): The maker of computer backup and networking equipment was given a new “hold” rating at Soleil Securities Corp. The 12-month price estimate is $40.
Team Inc. (TISI US): The provider of industrial services posted first-quarter earnings excluding some items of 20 cents a share, beating the average analyst estimate by 43 percent, according to Bloomberg data.
Yum! Brands Inc. (YUM US): The owner of the KFC and Taco Bell restaurant chains reported third-quarter profit of 73 cents a share excluding some items, matching the average analyst projection.
To contact the editor responsible for this story: Nick Baker at email@example.com.