3M, Caterpillar, National City: U.S. Equity Preview

By Elizabeth Campbell and Whitney Kisling

(Corrects to remove reference to Coach sales.)

Oct. 21 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading tomorrow. Stock symbols are in parentheses, and share prices are as of 8:25 a.m. in New York, unless otherwise specified.

3M Co. (MMM US) rose 2 percent to $58.66. The maker of more than 55,000 products from Post-it Notes to electronic road signs said earnings rose 3.2 percent on sales of safety gear and industry abrasives. 3M also lowered its 2008 forecast to a range of $5.40 to $5.48 from a previous estimate of more than $5.48. The average analyst estimate was $5.45, according to Bloomberg data.

American Express Co. (AXP US) gained 3.9 percent to $25.30. The biggest U.S. credit-card company by purchases said profit from continuing operations was 74 cents a share, beating the 59- cent average estimate of analysts surveyed by Bloomberg.

Caterpillar Inc. (CAT US) gained 2 percent to $41.73. The world's biggest maker of bulldozers and excavators reported third-quarter sales that beat analysts' estimates by 7 percent. Third-quarter profit declined to $1.39 a share as costs increased for steel and other materials, short of analysts' average estimate of $1.41 a share, according to Bloomberg data.

Coach Inc. (COH US) gained 5.9 percent to $19.73. The largest U.S. maker of luxury leather handbags said net income for the first quarter was $145.8 million, or 44 cents a share, in line with the average estimate of analysts surveyed by Bloomberg.

DuPont Co. (DD US) slid 4.9 percent to $34.40. The third- biggest U.S. chemical maker said third-quarter net income fell 30 percent to $367 million, or 40 cents a share, missing the 52-cent average estimate of analysts surveyed by Bloomberg. Declining demand in the U.S. and Europe and sales disruptions caused by hurricanes hurt earnings, the company said.

Eli Lilly & Co. (LLY US) fell 10 cents to $34: The world's biggest maker of psychiatric drugs said it is in ``advanced discussions'' to settle an investigation over the antipsychotic Zyprexa and will take a charge of $1.42 billion in the third quarter, according to a statement distributed by PR Newswire. The shares lost 10 cents to $34.

Jefferies Group Inc. (JEF US) fell 2.3 percent to $16.50. The New York-based brokerage that specializes in mid-sized companies posted a loss of $31.3 million, or 18 cents a share, compared with the 3-cent loss analysts expected, according to a Bloomberg survey. The company's investment-banking revenue slumped, hurting earnings.

KeyCorp (KEY US) lost 6.6 percent to $9.10. Ohio's third- largest bank reported a $36 million net loss in the third quarter as it set aside more money to cover soured loans. The Cleveland- based lender's loss of 10 cents a share missed analysts' average estimate of a 16 cents a share profit, according to a Bloomberg survey of 20 analysts.

Lockheed Martin Corp. (LMT US) fell 5.3 percent to $88.25. The world's largest defense company said 2009 profit may fall short of analysts' estimates after third-quarter earnings increased 2.1 percent from the sale of a Russian rocket-launching venture. Profit of $782 million, or $1.92 a share beat the estimates of analysts surveyed by Bloomberg, while sales of $10.6 billion missed.

National City Corp. (NCC US) lost 7.5 percent to $2.70. The biggest lender in Ohio said it plans to cut 4,000 jobs after reporting a wider third-quarter loss and putting more money aside to cover unpaid loans.

Netflix Inc. (NFLX US): The largest U.S. mail-order movie service lowered fourth-quarter projections for the second time this month, saying it expects as many as 9.15 million subscribers by the end of the year.

Oracle Corp. (ORCL US): The world's second-largest software maker said it would buy back as much as $8 billion in shares, bringing its total planned buyback to as much as $9.3 billion. The shares lost 4 cents to $18.12.

Pfizer Inc. (PFE US) rose 3.2 percent to $17.89. The world's biggest drugmaker said profit tripled on higher sales of its pain pill Lyrica and a drop in costs due to 11,000 job cuts last year. Pfizer raised the lower end of its 2008 forecast to a range of $2.36 to $2.41 a share from a previous estimate of $2.35 to $2.45 a share. Analysts predicted of $2.38 a share on average, according to Bloomberg data.

Regions Financial Corp. (RF US) slid 6.5 percent to $9.95. Alabama's biggest bank reported third-quarter profit excluding some items of 15 cents a share, missing the 27-0cent average estimate of 19 analysts surveyed by Bloomberg. The company said declining property values in the southern U.S. led to more losses on loans to home builders and borrowers.

SanDisk Corp. (SNDK US) fell 3 percent to $13.99. The biggest maker of memory cards for digital cameras posted a second straight loss after an industry glut drove down prices. Excluding acquisition-related expenses, the loss was 59 cents a share, wider than the 27-cent average analyst estimate, according to a Bloomberg survey.

Schering-Plough Corp. (SGp US) rose 5.5 percent to $15.30: The Kenilworth, New Jersey-based drugmaker reported third-quarter earnings excluding some items of 39 cents a share, compared with analysts' average estimate of 32 cents. Sales totaled $4.6 billion, compared with the $4.5 billion average estimate of analysts.

Sun Microsystems Inc. (JAVA US) lost 16 percent to $4.86. The world's fourth-largest maker of server computers said fiscal first-quarter sales probably amounted to $2.95 billion to $3.05 billion. That missed the average of $3.15 billion expected by analysts surveyed by Bloomberg.

Texas Instruments Inc. (TXN US) fell 8 percent to $16.55. The second-largest U.S. semiconductor maker reported a 27 percent decline in third-quarter profit on fewer orders for mobile-phone chips. Its forecast for the current quarter missed some analysts' estimates.

Weatherford International Ltd. (WFT US): The fourth-largest U.S. oilfield-services provider by market value was upgraded to ``buy'' from ``hold'' at Citigroup Inc., which cited the company's large international projects as a driver of revenue growth next year. The shares slid 20 cents, or 1.2 percent, to $17.16.

To contact the reporters on this story: Elizabeth Campbell in New York at ecampbell11@bloomberg.net; Whitney Kisling in New York at wkisling@bloomberg.net