Barclays, Goldcorp, AIG, Coke, ImClone: U.S. Equity Preview

By Whitney Kisling and Elizabeth Campbell

Oct. 6 (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 7:30 a.m. in New York, unless otherwise specified.

British banks fell after some newspapers including the Daily Telegraph said the U.K. government may stabilize the banking industry by purchasing shares.

Royal Bank of Scotland Group Plc, the U.K.'s second-biggest bank, (RBS US) lost 16 percent to $2.78. Barclays Plc (BCS US) slid 6.9 percent to $23. Lloyds TSB Group Plc (LYG US) dropped 1.2 percent to $18.57.

Gold producers gained as the precious metal, considered a safe haven, rose from increased demand as global equity markets tumbled.

Goldcorp Inc. (GG US) gained 4 percent to $27.80. Barrick Gold Corp. (ABX US) added 3.9 percent to $33.35. Randgold Resources Ltd. (GOLD US) climbed 1.1 percent to $35.12. Yamana Gold Inc. (AUY US) added 3.9 percent to $7.13.

American International Group Inc. (AIG US) fell 14 percent to $3.33. The U.S. insurer that agreed to be bailed out by the U.S. government is seeking a ``strategic partner'' to buy a minority stake in its Asian life insurance unit, said Thomas White, a senior vice president of AIG Thailand. The company said Oct. 3 that it planned to sell its life insurance and retirement divisions in the U.S., Europe, Latin America and Japan.

ArcelorMittal (MT US) fell 9.7 percent to $40.28. The world's biggest steelmaker was cut to ``hold'' from ``buy'' at Deutsche Bank AG on lower steel prices.

Citigroup Inc. (C US): A New York state court judge granted an order extending the bank's ``exclusivity agreement'' with Wachovia Corp., after Wells Fargo & Co. announced a competing bid for the North Carolina lender Friday. Wachovia may be divided by regions and units between Citigroup and Wells Fargo, the Wall Street Journal reported, citing people familiar with the situation.

Citigroup fell 4.9 percent to $17.45, while Wachovia dropped 13 percent to $5.40 and Wells Fargo declined 3.6 percent to $33.30.

Coca-Cola Co. (KO US) dropped 2.8 percent to $51.12. The world's biggest soft-drink company was cut to ``hold'' from ``buy'' at Deutsche Bank, saying that the global economic downturn and rising dollar will erode its earnings.

El Paso Corp. (EP US): The owner of the largest U.S. network of natural-gas pipelines said two of its 27 platforms in the Gulf of Mexico were ``heavily damaged'' by recent hurricanes and that much of its production in the region remain idle. The stock added 0.7 percent to $10.96 in regular trading.

Gannett Co. (GCI US): The largest U.S. newspaper publisher borrowed $1.2 billion under its unsecured revolving credit lines, bringing the total amount of such debt to about $1.9 billion. The stock fell 6.8 percent to $15.18 in regular trading.

Honeywell International Inc. (HON US): The world's largest maker of airplane instruments said it won a $4 billion order to provide engines for General Dynamics Corp.'s new Gulfstream G250 executive jet. The stock fell 27 cents to $37.84 in regular trading.

ImClone Systems Inc. (IMCL US) climbed 5.4 percent to $68.50. Eli Lilly & Co. (LLY US) agreed to buy the biotechnology company controlled by billionaire Carl Icahn for $6.5 billion or $70 a share, beating Bristol-Myers Squibb Co.'s (BMY US) hostile bid of $62 a share. Lilly rose 0.7 percent to $41.60 in late trading Oct. 3.

MetLife Inc. (MET US), the biggest U.S. life insurer, is undervalued and may climb more than 50 percent as it continues to expand its portfolio, Barron's said, citing unidentified people. The stock rose $1.17, or 2.9 percent, to $42.13 in regular trading.

National City Corp. (NCC US) fell 19 percent to $2.83. Ohio's biggest bank had its debt downgraded by Fitch Ratings as the economy weakens and real estate-related loans go bad.

Yahoo! Inc. (YHOO US): The company said Google Inc. (GOOG US) agreed to a ``brief delay'' in the start of a planned Internet-advertising partnership. Yahoo rose 2.7 percent to $16 in regular trading while Google lost 2.3 percent to $378.

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