FedEx, Golar, Lululemon, Qualcomm Inc.: 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 8:10 a.m. in New York.
Amgen Inc. (AMGN) rose 2.1 percent to $53.80. The agency that administers Medicare, the U.S. health insurance program, declined to propose a coverage decision for when the government should pay for anemia drugs from companies such as Amgen. “This would appear to be good for Amgen, since it effectively endorses the current status quo,” said Mark Schoenebaum, an ISI Group analyst.
FedEx Corp. (FDX) gained 4.3 percent to $88.99. The second-largest U.S. package-shipping company forecast fourth- quarter earnings of as much as $1.83 a share, beating the average analyst estimate of $1.66, Bloomberg data show.
Golar LNG Ltd. (GOL) rose 4.5 percent to $22.83. Billionaire John Fredriksen’s liquid natural gas shippers Golar LNG Ltd. (GLNG) and Golar LNG Energy Ltd. (GOLE NO) have surged in Oslo on expectations that Japan’s demand for the fuel will advance after an earthquake closed nuclear plants.
Guess? Inc. (GES US): The apparel retailer forecast first- quarter earnings to be no more than 44 cents a share, below the 62-cent average estimate of analysts surveyed by Bloomberg.
Harris Corp. (HRS) : The provider of information technology services to the government forecast adjusted earnings in 2011 to be between $4.80 and $4.90 a share, compared with the average analyst estimate of $4.89.
Lululemon Athletica Inc. (LULU) : The yoga-wear retailer reported fourth-quarter earnings of 64 cents a share, excluding some items, beating the average analyst estimate by 12 percent, Bloomberg data show.
Natural Resource Partners LP (NRP) fell 5.8 percent to $35.30. The owner and manager of coal properties announced a secondary offering of 6 million units.
Qualcomm Inc. (QCOM) added 2.6 percent to $51.80. The world’s largest producer of mobile-phone chips said it expects last week’s Japanese earthquake and tsunami to have a limited effect on its supplies. Investors should buy shares of the San Diego-based company on weakness, JPMorgan Chase & Co. said in a note.
Sanmina-SCI Corp. (SANM) dropped 17 percent to $11.12. The contract electronics manufacturer said President and Chief Financial Officer Hari Pillai is resigning and that profit excluding some items this quarter may be as low as 28 cents a share, compared with the average analyst estimate of 41 cents.
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