Ambac Financial, MBIA, UAL, Continental: U.S. Equity Preview

By Katherine Greene

Aug. 15 (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 8 a.m. in New York, unless stated otherwise.

Ambac Financial Group Inc. (ABK US) jumped 16 percent to $5.30. Standard & Poor's ended a review of its ratings on MBIA Inc. (MBI US) and Ambac, the two largest bond insurers, without changing their ratings. MBIA's MBIA Insurance Corp. and Ambac's Ambac Assurance Corp. remain AA rated, New York-based S&P said today in separate statements.

MBIA shares rose 8.5 percent to $11.20.

Autodesk Inc. (ADSK US) increased 7.6 percent to $36.97. The biggest maker of engineering-design software forecast third- quarter and full-year revenue that topped some analysts' estimates.

Continental Airlines Inc. (CAL US) climbed 3.9 percent to $17. The fourth-largest U.S. carrier may be next to sell stock to raise capital, following an offering today by US Airways Group Inc., a UBS AG analyst said.

UAL Corp., (UAUA US) the owner of United Airlines, may also sell shares, the analyst said. The shares rose 4.1 percent to $13.20.

Kohl's Corp. (KSS US) increased 2.3 percent to $49.40. The fourth-largest U.S. department-store chain reported second- quarter profit that fell less than analysts estimated after the company slowed new orders and reduced the amount of goods it had to sell on clearance.

Nordstrom Inc. (JWN US) lost 3.4 percent to $29.18. The U.S. department-store chain with more than 100 locations of the same name said second-quarter profit fell and forecast annual earnings that would be lower than its previous projection.

NRG Energy Inc. (NRG US) gained 5.6 percent to $37.20. Billionaire Warren Buffett's Berkshire Hathaway Inc. disclosed a stake in the second-biggest power producer in Texas. Buffett also made an undisclosed transaction involving ConocoPhillips (COP US), the second-largest U.S. refiner, according to a regulatory filing disclosing equity investments at the end of the second quarter.

ConocoPhillips slipped 0.2 percent to $79.25.

SunPower Corp. (SPWR US) increased 10 percent to $86.40. The second-biggest U.S. solar-module maker won a contract to build a 250-megawatt solar-power plant to supply electricity to PG&E Corp., owner of California's largest utility. Merrill Lynch & Co. upgraded the stock to ``buy'' from ``neutral,'' saying the company is making inroads into the U.S. utility market.

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