CenturyLink, Salesforce.com, U.S. Steel: 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 8:45 a.m. in New York.
GeoResources Inc. (GEOI US) and Prospect Capital Corp. (PSEC US) will join the Standard & Poor’s SmallCap 600 Index, replacing Seahawk Drilling Inc. (HAWK US) and Martek Biosciences Corp. (MATK US) on Feb. 16 and Feb. 18 respectively, S&P said in a statement today. Prospect Capital rose 0.9 percent to $11.70.
Agilent Technologies Inc. (A US) rose 1.7 percent to $45.53. The world’s biggest maker of scientific-testing equipment boosted its full-year 2011 earnings forecast to as much as $2.63 a share, exceeding analysts’ average estimate of $2.51 a share.
Cablevision Systems Corp. (CVC US): The provider of telecommunications and entertainment services was cut to “hold” from “buy” at Kaufman Brothers LP. The 12-month price estimate is $37.
CenturyLink Inc. (CTL US) slipped 1 percent to $44.70. The Monroe, Louisiana phone company forecast first-quarter earnings to be no more than 70 cents a share, below the 83-cent average estimate of analysts.
FedEx Corp. (FDX US) advanced 0.9 percent to $94.87. The second-largest U.S. package-shipping company cut its profit forecast for the current quarter because of rising fuel costs and “severe” winter storms that reduced revenue and inflated expenses. Adjusted earnings will be 70 cents to 90 cents a share for the quarter ending Feb. 28, compared with an earlier projection of 95 cents to $1.15. Analysts expected earnings of $1.02 a share, the average of 20 estimates compiled by Bloomberg.
Fossil Inc. (FOSL US) declined 4.5 percent to $79.75. The Texas-based maker of watches and jewelry reported fourth-quarter earnings of $1.46 on an adjusted basis, beating the average analyst estimate of $1.34, Bloomberg data show.
General Electric Co. (GE US): The Fairfield, Connecticut- based company and a joint venture partner are seeking to sell their GE SeaCo container leasing unit for about $2.5 billion, the Financial Times reported, citing people familiar with the matter. GE, which owns 50 percent of the unit, could retain the business if it does not attract a satisfactory price, the FT reported.
Insight Enterprises Inc. (NSIT US) soared 12 percent to $16.42. The information-technology software provider forecast profit for 2011 of as much as $1.80 a share, above the average analyst estimate of $1.61 a share in a Bloomberg survey.
JDS Uniphase Corp. (JDSU US) fell 2.7 percent to $27.15. The biggest network-analysis company in the U.S. was cut to “market perform” from “outperform” at Sanford C. Bernstein & Co.
JPMorgan Chase & Co. (JPM US): The company is among banks that saw revenue from their commodity businesses, such as gold, copper and cotton, decline last year, the Wall Street Journal said, citing people with knowledge of the results. JPMorgan commodity revenue slipped 43 percent from a year earlier, the Journal said.
Limelight Networks Inc. (LLNW US) climbed 25 percent to $8.08. The software maker forecast an increase in full-year revenue of as much as 20 percent.
Marriott International Inc. (MAR US) gained 4.6 percent to $42.89. The largest U.S. hotel chain reported fourth-quarter profit of 39 cents a share, beating the average analyst estimate by 7.7 percent. Marriott International also said it will spin off its timeshare business into a new, publicly traded company.
Masco Corp. (MAS US): The insulation installer reported a fourth-quarter loss of 8 cents a share, missing the average analyst estimate, which was for a loss of 4 cents, according to a Bloomberg survey.
Mylan Inc. (MYL US): The global maker of generic and specialty pharmaceuticals said its subsidiary Mylan Pharmaceuticals Inc. has launched Voriconazole tablets, 50 mg and 200 mg, under a previously reported settlement and license agreement with Pfizer Inc (PFE US).
Nasdaq OMX Group Inc. (NDAQ US): Adena Friedman will quit as chief financial officer of the exchange operator to take the same role at Carlyle Group, the world’s second-largest buyout firm.
Netflix Inc. (NFLX US) dropped 1.3 percent to $244.24. The DVD-rental and streaming company was cut to “equal-weight” from “overweight” by Morgan Stanley.
NYSE Euronext (NYX US) fell 4.2 percent to $37.80. The boards of Deutsche Boerse AG and NYSE plan to vote this morning on whether to combine the companies and create the world’s largest owner of equities and derivatives markets, according to a person with direct knowledge of the matter.
Omnicom Group Inc. (OMC US): The owner of advertising agencies reported fourth-quarter earnings of 83 cents a share on an adjusted basis, beating the average analyst estimate of 81 cents, Bloomberg data show.
PMI Group Inc. (PMI US) fell 3.7 percent to $3.14. The mortgage insurer reported a fourth-quarter loss of $1.08 a share on an adjusted basis, missing the average analyst estimate of a loss of 66 cents a share, Bloomberg data show.
Salesforce.com Inc. (CRM US) increased 2.4 percent to $145.59. The seller of online customer-relationship management programs was raised to “buy” from “hold” by Jefferies Group Inc.
Sirius XM Radio Inc. (SIRI US) slumped 5.5 percent to $1.73. The satellite radio broadcaster forecast sales in 2011 to be about $3 billion, below the $3.09 billion analysts estimated on average.
Ultra Clean Holdings Inc. (UCTT US) dropped 12 percent to $11.62. The supplier of equipment to semiconductor makers reported fourth-quarter earnings that missed analysts’ estimates and said it plans to offer as much as $100 million in shares.
U.S. Steel Corp. (X US) jumped 2.7 percent to $61.95. The Pittsburgh-based steel producer was raised to a “buy” from “neutral” by Goldman Sachs Group Inc.
Walter Energy Inc. (WLT US) declined 3 percent to $123.33. The southern Appalachia producer of steelmaking coal reported fourth-quarter earnings from continuing operations of $1.75 a share, missing the $1.96 average estimate by analysts.
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