Fannie Mae, MBIA, Tiffany, Williams-Sonoma: U.S. Equity Movers

By Jeff Kearns

Aug. 28 (Bloomberg) -- The following companies are having unusual price changes in U.S. markets. Stock symbols are in parentheses, and prices are as of 9:40 a.m. in New York.

Brown-Forman Corp. (BF/B US) dropped the most in the Standard & Poor's 500 Index, sliding 6.1 percent to $72.34. The maker of Jack Daniel's and Southern Comfort whiskey reported a profit decline that trailed analysts' estimates after writing down the value of dead agave plants used for making tequila.

Fannie Mae (FNM US) rose for a sixth day, gaining 8.6 percent to $7.04. Daniel Mudd, chief executive officer of the biggest U.S. mortgage-finance company, replaced Fannie's finance chief and chief business officer in a management shakeup.

Freddie Mac (FRE US), the second-largest mortgage financier, jumped 10 percent to $5.23.

FuelCell Energy Inc. (FCEL US) lost 7.3 percent, the most in three weeks, to $8.14. The maker of pollution-free power plants reported a third-quarter loss of 39 cents a share. Analysts projected a loss of 27 cents, the average of nine estimates in a Bloomberg survey.

Jo-Ann Stores Inc. (JAS US) rose the most in four months, adding 11 percent to $25.07. The largest U.S. fabric retailer reported a second-quarter loss that was less than analysts estimated and raised its annual forecast.

MBIA Inc. (MBI US) climbed the most in the S&P 500, surging 20 percent to $14.38. The largest bond insurer will reinsure $184 billion in municipal bonds for Financial Guaranty Insurance Co., winning new business after losing its top AAA rating.

Ambac Financial Group Inc. (ABK US), the second-biggest bond insurer, rose 12 percent to $5.86.

Men's Wearhouse Inc. (MW US) increased 7.1 percent, the most since Aug. 8, to $21.42. The apparel retailer with more than 1,200 stores reported adjusted profit of 72 cents a share, beating the average analyst estimate by 2.1 percent.

Tiffany & Co. (TIF US) rose the most since August 2005, climbing 11 percent to $43.89. The world's second-largest luxury- jewelry retailer posted profit and sales that exceeded analysts' estimates and forecast higher annual earnings.

Williams-Sonoma Inc. (WSM US) had the steepest drop since September 2001, sliding 11 percent to $16.34. The biggest U.S. gourmet-cookware chain said second-quarter profit fell 29 percent after it reduced prices to lure shoppers. Full-year profit and sales will decline more than it thought, the retailer said.

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