Anheuser-Busch, Citigroup, General Motors: U.S. Equity Preview

By Katherine Greene

June 26 (Bloomberg) -- The following companies may have unusual price changes in U.S. markets. Stock symbols are in parentheses after company names, and prices are as of 7:44 a.m. in New York, unless stated otherwise.

Anheuser-Busch Cos. (BUD US) fell 0.8 percent to $61.25. The maker of Budweiser may reject InBev NV's $46.3 billion takeover bid and announce plans to lower costs and sell off divisions to increase its stock price, the Wall Street Journal reported yesterday, citing unidentified people familiar with the matter.

Autodesk Inc. (ADSK US) lost 4.5 percent to $34.71 in extended trading yesterday. The biggest maker of engineering- design software cut its second-quarter forecast for adjusted earnings per share to as low as 50 cents a share. Analysts had expected 53 cents, the average of 17 estimates in a Bloomberg survey, for the quarter ending July 31.

Bed Bath & Beyond Inc. (BBBY US) added 8 percent to $30.84 in extended trading yesterday. The largest U.S. home-furnishings retailer reported profit that fell less than analysts estimated on higher sales. First-quarter net income declined to 30 cents a share from 38 cents a year earlier, the company said in a statement. Analysts had forecast 27 cents, the average of 20 estimates in a Bloomberg survey.

Citigroup Inc. (C US) fell 4.5 percent to $18. The bank that's posted the biggest losses from the collapse of the U.S. mortgage market may take an additional $8.9 billion in net writedowns in the second quarter, Goldman Sachs Group Inc. said.

General Motors Corp. (GM US) dropped 5.5 percent to $12.10. The world's largest automaker was downgraded to ``sell'' from ``neutral'' at Goldman, Sachs & Co., which said the shares will continue to slide as the sales outlook worsens, citing soaring gas prices, falling consumer confidence and tighter credit conditions.

Ford Motor Co. (F US), GM's smaller rival, fell 3 percent to $5.08.

Merrill Lynch & Co. (MER US) slid 3.3 percent to $34.40. The third-biggest U.S. securities firm is likely to post losses in the second quarter and 2008 after writing down the value of mortgage-related assets, according to Sanford C. Bernstein & Co.'s Brad Hintz.

Oracle Corp. (ORCL US) lost 3.3 percent to $21.81. The second-largest software maker said it expects first-quarter profit before some items of 26 cents to 27 cents a share. Analysts had expected 27 cents, the average of 16 analyst estimates in a Bloomberg survey.

Research In Motion Ltd. (RIMM US) lost 9.6 percent to $128.62. The maker of the BlackBerry e-mail phone missed profit and sales estimates for the first time in five quarters and gave a disappointing forecast amid heightened competition with Apple Inc.'s iPhone. The company reported first-quarter profit of 84 cents a share. That trailed the 85 cents predicted by analysts in a Bloomberg survey.

-- With reporting by Jeff Kearns. Editor: Allen Wan

To contact the reporter on this story: Katherine Greene in New York at kgreene8@bloomberg.net.