AIG, Eagle Bulk, OM, Wal-Mart, Warnaco: U.S. Equity Preview

By Jeff Kearns

Aug. 7 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 9 a.m. in New York.

American International Group Inc. (AIG US) lost 11 percent to $25.95. The world's biggest insurer by assets posted a $5.36 billion loss that was worse than analysts estimated as writedowns tied to the housing slump wiped out profit for a third straight quarter.

Avis Budget Group Inc. (CAR US) rose 5.6 percent to $6.57. The third-largest U.S. car-rental company reported second-quarter profit of 15 cents a share, more than the 6-cent average estimate of analysts surveyed by Bloomberg.

Cardinal Health Inc. (CAH US) slid 3.8 percent to $52.45. The second-largest U.S. distributor of prescription medicines said quarterly profit plunged from a year ago, when the sale of a drug-packing unit inflated earnings. The company said it will consider the spinning off its clinical- and medical-products units to shareholders.

Eagle Bulk Shipping Inc. (EGLE US) added 8.3 percent to $29.90. The company whose ships carry commodities such as coal and iron ore said second-quarter profit rose 25 percent on higher rates and a larger fleet.

Fortress Investment Group LLC (FIG US) lost 11 percent to $10.03. The first U.S. manager of private equity and hedge funds to go public said second-quarter profit unexpectedly declined 59 percent as turmoil in financial markets cut gains from private- equity and hedge funds.

KBR Inc. (KBR US) rose 0.8 percent to $23.96. The U.S. engineering firm that split from Halliburton Co. last year said its board approved a program to repurchase 5 percent of outstanding shares.

Nationwide Financial Services Inc. (NFS US) rose 9.7 percent to $50.95. Nationwide Mutual Insurance Co., the Ohio-based home and auto insurer, agreed to buy the part of Nationwide Financial that it doesn't already hold for $2.4 billion to simplify the company's ownership structure.

OM Group Inc. (OMG US) added 7.7 percent to $32. The world's largest cobalt producer said second-quarter profit rose 22 percent as prices for the metal surged. Net income increased to $1.85 a share from $1.52 a year earlier, OM Group said.

Sunoco Inc. (SUN US) climbed 2.2 percent to $44.25. The largest oil refiner in the U.S. East reported 49 percent more profit than analysts estimated, excluding gains from an insurance recovery and a tax settlement, according to Bloomberg data.

VeriSign Inc. (VRSN US) dropped 14 percent to $29.20. The biggest operator of computers that direct Internet traffic reported a $68 million second-quarter loss as the company worked to sell off its less profitable operations.

Wal-Mart Stores Inc. (WMT US) lost 3.8 percent to $58.45. The world's biggest retailer said U.S. sales rose 3 percent in July and would slow this month because most shoppers have already received their tax rebates.

Warnaco Group Inc. (WRC US) rose 5.6 percent to $45.75. The maker of Chaps and Nautica clothing raised its forecast for the current fiscal year to has high as $2.90 a share. Analysts had expected $2.77 a share, the average of five estimates in a Bloomberg survey.

To contact the reporter on this story: Jeff Kearns in New York at jkearns3@bloomberg.net.