FedEx, ImClone, Lehman, Salesforce.com: U.S. Equity Preview

By Lynn Thomasson

Sept. 10 (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 unless stated otherwise.

FedEx Corp. (FDX US) increased 3.8 percent to $88. The largest air-parcel shipper said profit for the quarter ended Aug. 31 was $1.23 a share, beating its forecast as fuel costs fell.

GFI Group Inc. (GFIG US) tumbled 24 percent to $7.35. Tullett Prebon Plc, the second-biggest broker of transactions between banks, and GFI, the largest interdealer broker of credit derivatives trades, ended merger discussions after failing to reach an agreement on terms.

ImClone Systems Inc. (IMCL US) was halted for trading before the official opening of exchanges. The cancer-drug maker said it received a $70-a-share takeover offer from a company other than Bristol-Myers Squibb Co. (BMY US). It rejected Bristol's $60-a- share bid as inadequate. The shares fell 1.2 percent to $63.65 in regular trading yesterday.

Lehman Brothers Holdings Inc. (LEH US) surged 13 percent to $8.80. The fourth-largest U.S. securities firm said it will sell a majority stake in its asset-management unit, spin off commercial real-estate holdings and cut the dividend in an effort to shore up capital and regain investor confidence.

PNC Financial Services Group Inc. (PNC US) dropped 2.9 percent to $70.77. Pennsylvania's biggest bank said it may post writedowns on holdings and cuts in noninterest income for the third quarter as disruptions continue to roil credit markets.

Salesforce.com Inc. (CRM US), the biggest seller of Internet-based customer management software, climbed 5.8 percent to $55.10, while Fastenal Co. (FAST US), the largest U.S. retailer of nuts and bolts, added 2.5 percent to $53.49. The companies were picked to replace Fannie Mae (FNM US) and Freddie Mac (FRE US) in the Standard & Poor's 500 Index.

Texas Instruments Inc. (TXN US) climbed 5.7 percent to $22.95. The second-largest U.S. semiconductor maker maintained its revenue forecasts, allaying concern that slower mobile-phone demand would drag down sales further.

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