Economic Calendar

Thursday, July 24, 2008

Amazon, Bunge, Ford, Goodrich, LSI, MEMC: U.S. Equity Preview

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By Elizabeth Stanton

July 24 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 8:30 a.m. in New York unless stated otherwise.

Amazon.com Inc. (AMZN US) rose 8.2 percent to $76.30. The world's largest Internet retailer reported second-quarter profit that rose more than analysts estimated as customers bought flat- panel TVs and jewelry and the dollar's decline boosted overseas sales.

Baidu.com Inc. American depositary receipts (BIDU US) rose 12 percent to $323.95. China's most-used Internet search engine posted an 87 percent jump in second-quarter profit, beating analysts' estimates. Chief Executive Officer Robin Li added to Baidu's lead over Google Inc. (GOOG US) in China by introducing services such as online games from Shanda Interactive Entertainment Ltd. (SNDA US) and anti-virus software from Kingsoft Corp. (3888 HK).

Bunge Ltd. (BG US) rose 1.7 percent to $101. The world's biggest oilseed processor said second-quarter profit rose fourfold as record agricultural prices boosted demand for crop nutrients and grain-handling. Earnings of $4.73 a share were more than double the average analyst estimate in a Bloomberg survey.

Chipotle Mexican Grill Inc. (CMG US) fell 12 percent to $73.89. The fast-food chain McDonald's Corp. sold to the public in 2006 reported 0.9 percent less second-quarter profit than analysts estimated, according to Bloomberg data.

Daimler AG American depositary receipts (DAI US) fell 9.4 percent to $60.35. The world's second-biggest luxury carmaker said lower U.S. sales dragged down profit and the company cut its earnings forecast.

F5 Networks Inc. (FFIV US) fell 5.1 percent to $29.46. The maker of programs that manage companies' computer networks said third-quarter profit fell 12 percent on higher costs for sales and marketing and for research and development.

Ford Motor Co. (F US) fell 6.3 percent to $5.65. The world's third-largest automaker posted a second-quarter loss of $8.7 billion and said it will convert three truck factories to produce small cars as rising gasoline prices sap U.S. truck sales.

Gardner Denver Inc. (GDI US) fell 16 percent to $46.67. The maker of Oberdorfer pumps and Champion air compressors said demand for some products is slowing in the U.S. and U.K. Chief Executive Officer Barry Pennypacker said the outlook remains ``cautious'' for the second half.

Goodrich Corp. (GR US) rose 12 percent to $52. The largest supplier of aircraft landing gear beat analysts' estimates with a 50 percent jump in second-quarter earnings as it sold more parts to planemakers amid higher demand for new jets that use less fuel.

LSI Corp. (LSI US) rose 12 percent to $7.66. The maker of semiconductors for International Business Machines Corp. and Seagate Technology reported 38 percent more second-quarter profit than analysts estimated, according to Bloomberg data.

MEMC Electronic Materials Inc. (WFR US) fell 18 percent to $43.90. The maker of silicon wafers estimated as little as $4 a share in profit this year. Analysts expect $4.28, the average forecast in a Bloomberg survey.

Omniture Inc. (OMTR US) fell 13 percent to $18.20 in extended trading yesterday. The maker of business software used by Wal-Mart Stores Inc. and Vodafone Group Plc predicted full- year sales that trailed analysts' estimates.

Qualcomm Inc. (QCOM US) rose 19 percent to $53.50. The world's biggest maker of mobile-phone chips increased its 2008 sales and profit targets and settling a patent dispute with handset maker Nokia Oyj (NOK US). Nokia American depositary receipts added 2.8 percent to $27.46.

To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net


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