Economic Calendar

Tuesday, August 19, 2008

China Techfaith, Merck, Nymex, WellCare: U.S. Equity Preview

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By Lynn Thomasson

Aug. 18 (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.

China Techfaith Wireless Communication Technology Ltd. (CNTF US) dropped 19 percent to $2.20. The Chinese maker of mobile phones said third-quarter revenue may be as low as $30 million. Susquehanna Financial Group analyst Adele Mao predicted third- quarter sales of $56.2 million.

Merck & Co. (MRK US): The drugmaker's marketing department devised a study on the painkiller Vioxx to persuade 600 doctors involved in the trial to prescribe the drug and recommend it to their peers, according to the Annals of Internal Medicine that used internal company memos and reports about the study. The stock slipped 1.2 percent to $35.71 in regular trading.

Nymex Holdings Inc. (NMX US) climbed 1.2 percent to $80.93. Shareholders of the New York Mercantile Exchange operator voted to approve CME Group Inc.'s $8.3 billion takeover offer.

SAIC Inc. (SAI US): The military contractor specializing in computer services won an order valued at as much as $410 million to provide information-technology support to the U.S. Army Human Resources Command. The shares increased 0.5 percent to $19.23 in regular trading.

WellCare Health Plans Inc. (WCG US) increased 4.6 percent to $40.01. The managed-health-care provider said it will pay $35.2 million in connection with a Medicaid fraud investigation, according to a government filing of the agreement with U.S. prosecutors. The deal is not a settlement of the case and doesn't limit the U.S. government and state of Florida from further claims, the company said.

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


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