Altera, Genentech, Intel, Jones Apparel: U.S. Equity Preview

By Lu Wang

Oct. 14 (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 5:25 p.m. in New York, unless otherwise specified.

Standard & Poor's 500 Index futures expiring in December lost 14.40, or 1.4 percent, to 1,002.30. Dow Jones Industrial Average futures fell 146, or 1.5 percent, to 9,362. Nasdaq-100 Index futures slipped 92.50, or 6.3 percent, to 1,366.

Altera Corp. (ALTR US) rose $1.09, or 6.4 percent, to $18.20. 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.

Xilinx Inc. (XLNX US), Altera's bigger rival, rose 39 cents, or 1.9 percent, to $21.32.

Genentech Inc. (DNA US) rose $2.88, or 3.6 percent, to $82. 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.

Intel Corp. (INTC US) rose 72 cents, or 4.5 percent, to $16.65. 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 74 cents, or 5.5 percent, to $12.78. 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.

Linear Technology Corp. (LLTC US) fell $3.85, or 15 percent, to $22.04. 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) rose 93 cents, or 4.3 percent, to $22.50. 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.

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net