AIG, Apple, Best Buy, Dell, Goldman Sachs: U.S. Equity Preview

By Elizabeth Stanton and Elizabeth Campbell

Sept. 16 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading today. Stock symbols are in parentheses, and share prices are as of 8:30 a.m. in New York, unless otherwise specified.

American International Group Inc. (AIG US) slumped 36 percent to $3.04. The biggest U.S. insurer by assets had its credit ratings cut by Standard & Poor's and Moody's Investors Service. New York Governor David Paterson told CNBC that AIG probably has one day to reach an agreement to raise $75 billion to $80 billion to keep the company afloat.

Apple Inc. (AAPL US) fell 3.1 percent to $136. Goldman Sachs Group Inc. removed the maker of Macintosh computers and iPod music players from its ``conviction buy'' list, while maintaining a ``buy'' recommendation on the shares.

Best Buy Co. (BBY US) slid 8 percent to $40.20. The largest U.S. electronics retailer said second-quarter earnings fell short of analyst estimates after it spent more to enhance U.S. stores. Profit dropped 19 percent to $202 million, or 48 cents a share, missing the average estimate by 9 cents.

Dell Inc. (DELL US) fell 7.1 percent to $16.71. The world's second-biggest personal-computer maker said it sees ``further softening'' in global demand this quarter. The company expects to incur costs to cut jobs and realign the business, according to a statement.

Goldman Sachs Group Inc. (GS US) fell 8.8 percent to $16.40. The largest of the two remaining independent U.S. securities firms reported third-quarter profit fell 70 percent, the sharpest decline in its nine years as a public company, and said it remains ``well positioned.''

Harris Corp. (HRS US) rose $1.40, or 3.1 percent, to $47. The maker of military radios will replace Lehman Brothers Holdings Inc. (LEH US) in the Standard & Poor's 500 Index, S&P said.

Hewlett-Packard Co. (HPQ US) fell 8 cents to $45.25. The world's largest maker of personal computers said it plans to cut about 24,600 jobs over three years as part of its integration of Electronic Data Systems Corp. and expects to incur $1.7 billion in expenses this quarter for the cuts.

Hexcel Corp. (HXL US): The maker of reinforced plastics for aircraft withdrew its full-year earnings forecast, saying it cut production volumes because of the machinists strike at Boeing Co. (BA US) The stock fell 4.3 percent to $18.02 in regular trading yesterday.

Lawson Software Inc. (LWSN US) fell 6.7 percent to $6.40. The maker of business-management programs for Safeway Inc. said in a statement that first-quarter profit excluding some items was 4 cents to 5 cents a share. That's short of the 7-cent average estimate from analysts in a Bloomberg survey.

Washington Mutual Inc. (WM US) fell 21 cents, or 11 percent, to $1.79. The biggest U.S. savings and loan had its debt rating cut to junk by Standard & Poor's because of the deteriorating housing market.

To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net