Abbott, Abercrombie, Home Depot, JPMorgan: U.S. Equity Preview

By Whitney Kisling and Elizabeth Campbell

Oct. 15 (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 a.m. in New York, unless otherwise specified.

Abbott Laboratories (ABT US) gained 4.1 percent to $57. The maker of drugs, medical devices and infant formula boosted its full-year forecast to $3.31 to $3.33, compared with analysts' estimate of $3.27, according to a Bloomberg survey. The company also reported adjusted earnings for the third quarter that beat the average estimate by a penny on increased sales from the anti- inflammatory medicine Humira and its new heart sent Xience.

Abercrombie & Fitch Co. (ANF US): The teen-apparel retailer with more than 1,000 stores was raised to ``outperform'' from ``neutral'' at Credit Suisse Group because ``the current stock price reflects a worst-case scenario.'' The stock fell 4.6 percent to $28.46 in regular trading yesterday.

Altera Corp. (ALTR US) rose 6.1 percent to $17.11. The world's second-largest maker of programmable chips reported third-quarter profit of 31 cents a share, topping the 30-cent average estimate from analysts in a Bloomberg survey.

Apple Inc. (AAPL US) gained 1.8 percent to $105.99. The maker of iPods, iPhones and Macintosh computers was raised to ``overweight'' from ``neutral'' at JPMorgan Chase & Co. JPMorgan also upgraded International Business Machines Corp. (IBM US), saying both companies' stock may hold up better than other technology shares amid ``macroeconomic distress.'' IBM rose 0.7 percent to $94.27.

Dell Inc. (DELL US) was cut to ``neutral'' from ``overweight'' at JPMorgan because most of the company's revenue comes from personal computers, making consistent growth a ``hurdle.''

Ericsson AB American depositary receipts (ERIC US): The world's largest maker of wireless network was upgraded to ``neutral'' from ``sell'' at Goldman Sachs Group Inc. Shares rose 0.6 percent to $7.09.

Genentech Inc. (DNA US) rose 4.9 percent to $83. The biggest U.S. maker of cancer drugs reported third-quarter revenue that topped analysts' estimates on higher sales of its Avastin treatment for colon, lung and breast tumors.

Home Depot Inc. (HD US): The world's largest home- improvement retailer was raised to ``outperform'' from ``neutral'' at Credit Suisse Group AG, which said the company has held up well in ``the most challenging'' environment for retail. The shares climbed 0.4 percent to $21.15.

Credit Suisse also upgraded Lowe's Co. Inc. (LOW US).

Intel Corp. (INTC US) rose 2 percent to $16.25. The world's biggest chipmaker reported a 12 percent increase in third-quarter profit after orders for cheaper computer processors bolstered sales. Earnings per share beat the average analyst estimate by 1 cent, according to a Bloomberg survey.

Jones Apparel Group Inc. (JNY US) fell 4.1 percent to $12.97. The maker of Jones New York clothing and Nine West shoes said its full-year earnings will be lower than previously forecast, predicting profit from continuing operations of as much as 98 cents a share. The company earlier expected to earn at least $1.20.

JPMorgan Chase & Co. (JPM US). The largest U.S. bank by market value reported third-quarter profit that fell 84 percent to $527 million, or 11 cents a share. The average analyst estimate was an 18-cent loss, according to a Bloomberg survey. JPMorgan took $18.8 billion of writedowns, losses and credit provisions before today, less than a third of Wachovia Corp. and Citigroup Inc. The shares slid 0.5 percent to $40.49.

Linear Technology Corp. (LLTC US) fell 15 percent to $22. The Milpitas, California-based chipmaker said it expects second- quarter revenue to drop as much as 20 percent from $310.4 million in the previous three months. Analysts, on average, expected sales to increase to $312.6 million, according to a Bloomberg survey.

Textron Inc. (TXT US): The maker of the Shadow unmanned aircraft said it won a $242.1 million contract to build 17 of the drones for the U.S. military. The shares gained 0.1 percent to $21.60.

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