By Elizabeth Campbell and Whitney Kisling
Oct. 31 (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 7:35 a.m. in New York, unless otherwise specified.
Akamai Technologies Inc. (AKAM US): The largest supplier of software and services to speed the delivery of Web sites reported third-quarter net income that beat the average estimate of analysts. The shares gained 12 percent to $15.50 in late- trading yesterday.
Best Buy Co. (BBY US) gained 3.2 percent to $25.40. The largest U.S. electronics retailer was raised to ``equal weight'' from ``underweight'' at UBS AG, which cited the company's competitive position and balance sheet.
Burger King Holdings Inc. (BKC US): The second-largest U.S. hamburger chain reported profit excluding some items of 38 cents a share, missing the average analyst estimate by 2.3 percent. The fast-food chain also reaffirmed its 2009 earnings forecast. Burger King added 7.7 percent to $20.25 in regular trading yesterday.
Chesapeake Energy Corp. (CHK US): The second-biggest U.S. independent producer of natural gas posted third-quarter profit excluding some costs that beat the average analyst estimate by 1.7 percent on higher gas prices. The shares lost 7 cents to $22.
Electronic Arts Inc. (ERTS US): The world's second-largest video-game maker reported a wider second-quarter loss and lowered its earnings forecast for the fiscal year. The company also said it plans to cut 6 percent of its jobs in response to a deteriorating economy. The shares slid 14 percent to $23.75 in late-trading yesterday.
General Motors Corp. (GM US): The largest U.S. automaker's merger with Chrysler LLC has been put on hold until after the U.S. presidential election, Reuters reported, citing three people with direct knowledge of the talks. The shares added 3.8 percent to $6.07.
Infineon Technologies AG American depositary receipts (IFX US) slid 6.9 percent to $2.98. Europe's second-largest semiconductor maker had its price estimate cut 37 percent at UBS AG.
Intel Corp. (INTC US) slid 3.1 percent to $15.67. The world's largest computer-chip maker said in the risk factors section of its quarterly regulatory filing that the financial crisis could hurt its business results.
J.M. Smucker Co. (SJM US): The maker of jams, Crisco shortening and Jif peanut butter will replace Terex Corp. (TEX US) on the Standard & Poor's 500 Index. J.M. rose 4.3 percent to $45.35, and Terex slid 3.5 percent to $16.35 in late-trading yesterday.
McAfee Inc. (MFE US): The second-biggest maker of security software reported profit and revenue that beat analysts' estimates on an increase in orders for programs that protect computers and information. The shares gained 1.8 percent to $28.35.
Sun Microsystems Inc. (JAVA US): The world's fourth-largest maker of server computers posted its second loss in three quarters as corporate customers cut back spending amid the global credit crunch. The shares declined 3 percent to $5.13 in late-trading yesterday.
Thinkorswim Group Inc. (SWIM US): The online options brokerage and investor-education company posted third-quarter profit excluding some costs that beat analysts' estimates by 15 percent as trading and new account growth accelerated. The shares climbed 7.7 percent to $8 in late-trading yesterday.
Wynn Resorts Ltd. (WYNN US): The biggest U.S. casino company by market value is experiencing ``more significant softening'' this month, Chief Executive Officer Steve Wynn said. The company also won't ``rush into'' a new Macau hotel. The shares added 2.6 percent to $47.70 in late-trading yesterday.
Yahoo! Inc. (YHOO US): Google Inc. is considering dropping its proposed Internet-search advertising venture with Yahoo because it is reluctant to accept restrictions to avert a possible court challenge by U.S. antitrust officials, people say. The collapsed plan between the two biggest online advertising companies would deprive Yahoo of as much as $450 million in operating cash flow over a year. Yahoo added 6.5 percent to $12.93 in regular trading yesterday.
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
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