Anheuser-Busch, Fannie Mae, Freddie Mac: U.S. Equity Preview

By Katherine Greene

July 11 (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 7:30 a.m. in New York, unless stated otherwise.

Anheuser-Busch Cos. (BUD US) rose 4.1 percent to $63.75. The brewer of Budweiser started friendly talks about a sale to its Belgian rival InBev NV (INBVF US), ending a month of opposition, the New York Times said. Separately, the Wall Street Journal reported that InBev has raised its offer to $70 a share, up from the initial offer of $65 a share.

Chevron Corp. (CVX US) slipped 0.7 percent to $95.50. The second-largest U.S. oil company said oil and natural-gas output fell 3.4 percent during the second quarter and predicted profit from refining to be ``significantly'' lower than the previous quarter.

Deckers Outdoor Corp. (DECK US): The maker of Ugg boots and Teva sandals said it agreed to open retail stores for its Ugg brand in China through a venture with Stella International Holdings. The stock dropped 3.8 percent to $123.30 in regular trading yesterday.

Fannie Mae (FNM US) dropped 27 percent to $9.66. A government takeover of one or both of the largest U.S. mortgage- finance companies is among several options that have been considered by White House officials, according to a person familiar with the discussions who spoke on condition of anonymity. Senior Bush administration officials are considering placing either or both firms in a conservatorship if their problems get worse, the person said.

Freddie Mac (FRE US) plunged 34 percent to $5.31.

Jacobs Engineering Group Inc. (JEC US): Goldman Sachs Group Inc. added the second-largest engineering-services company to its ``conviction buy'' list, saying Jacobs has exceeded estimates the past three quarters. The shares have been oversold, Goldman said.

MasterCard Inc. (MA US) climbed 3.4 percent to $262.01. The world's second-biggest credit-card network will replace Ace Ltd., a Bermuda-based insurer, in the Standard & Poor's 500 Index, S&P said. That may support MasterCard's stock price as fund managers who track the performance of the index buy shares.

Medarex Inc. (MEDX US): The co-developer of an experimental drug for skin cancer predicted 2008 sales as high as $52 million, more than the average analyst estimate of $49.5 million from a Bloomberg survey. The stock increased 5.1 percent to $7.05 in regular trading yesterday.

Wynn Resorts Ltd. (WYNN US) jumped 13.5 percent to $79.35. The casino company founded by billionaire Stephen Wynn said it may repurchase as much as $500 million more of its shares on top of a previously announced $1.2 billion buyback.

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