Gilead, Google, Merrill Lynch, Microsoft: U.S. Equity Preview

By Lynn Thomasson

July 17 (Bloomberg) -- The following companies may have unusual price changes in U.S. markets tomorrow. Stock symbols are in parentheses after company names, and prices are as of 6 p.m. in New York, unless stated otherwise.

General Dynamics Corp. (GD US): The largest maker of armored vehicles for the U.S. military won a Navy order valued at $552 million to build more blast-resistant trucks used to protect troops from roadside bombs in Iraq. The shares lost 1.2 percent to $81.21 in regular trading.

Gilead Sciences Inc. (GILD US) lost 4 percent to $53.17. The drugmaker reported second-quarter profit excluding stock-based compensation was 49 cents a share, missing the 51-cent average in a Bloomberg survey of 20 analysts.

Google Inc. (GOOG US) dropped 7.4 percent to $494. The owner of the most popular Internet search engine trailed earnings forecasts for only the third time in 16 quarters as a public company as growth in clicks on Internet advertisements slowed.

Merrill Lynch & Co. (MER US) fell 6.6 percent to $28.71. The third-biggest U.S. securities firm reported a $4.65 billion quarterly loss, its fourth straight, as it added to its credit- market writedowns. Analysts' estimates ranged from a loss of 93 cents to a loss of $4.21 a share, according to a survey by Bloomberg.

Microsoft Corp. (MSFT US) slumped 6.5 percent to $25.74. The world's biggest software maker, posted fourth-quarter profit that trailed analyst estimates and gave a disappointing forecast after a sluggish U.S. economy crimped sales. The company, whose shares have fallen 23 percent this year, predicted first-quarter earnings as low as 47 cents a share. Analysts polled by Bloomberg anticipated 49 cents a share, on average.

Tempur-Pedic International Inc. (TPX US) added 3.8 percent to $9. The maker of luxury mattresses and pillows reported second-quarter profit of 27 cents a share, exceeding the 23-cent estimate from a Bloomberg survey of analysts by 18 percent.

Zions Bancorporation (ZION US) fell 5 percent to $26.13. The Salt Lake City-based lender operating in 10 western states said second-quarter profit declined by more than half as home prices tumbled. Provisions for loan losses increased to $114.2 million from $92.3 million in the first quarter.

To contact the reporter on this story: Lynn Thomasson in New York at lthomasson@bloomberg.net.