Con-Way, Ebay, Las Vegas Sands: U.S. Equity Movers

By Whitney Kisling and Elizabeth Campbell

(Corrects size of drop for Constellation and Con-way.)

Oct. 2 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 9:40 a.m. in New York.

Fertilizer makers declined after Mosaic Co. (MOS US) reported profit that missed analyst estimates and Merrill Lynch & Co. downgraded Potash Corp. of Saskatchewan Inc. (POT US), Agrium Inc. (AGU US) and Mosaic to ``underperform'' from ``buy.''

Mosaic tumbled 28 percent to $48.82 and earlier dropped to as low as $48.15 for the biggest intraday loss since its 2004 initial public offering. The world's second-largest fertilizer maker by market value reported first-quarter profit that missed the average analyst estimate by 9.8 percent, according to Bloomberg data. The company reduced its annual forecast for phosphate sales.

Potash dropped 19 percent to $103.45. Agrium plunged 18 percent to $44.79.

Terra Industries Inc. (TRA US) slid 20 percent to $22.86. Intrepid Potash Inc. (IPI US) fell 27 percent to $21.72. CF Industries Holdings Inc. (CF US) slumped 21 percent to $70.20. The three companies also were cut to ``underperform'' at Merrill.

Con-way Inc. (CNW US) tumbled to 14 percent to $37 and earlier dropped as much as 16 percent, the biggest intraday decline since October 1999. The second-largest U.S. trucking company lowered its full-year earnings forecast by 40 cents to a range of $2.60 to $2.80 a share, citing a slump in freight demand amid a weakening economy.

Constellation Energy Inc. (CEG US) jumped 10 percent to $26.16 and earlier rose as much as 13 percent for the steepest intraday advance since Sept. 22. Electricite de France SA (EDF FP) said it plans to ``pursue all options'' in relation to Constellation after its takeover approach was rebuffed in favor of Warren Buffett's MidAmerican Energy Holdings Co.

EBay Inc. (EBAY US) dropped 5.1 percent to $19.78 and earlier slid to as low as $19.60, the lowest intraday prices since March 2003. The world's largest Internet auction company was cut to ``equal weight'' from ``overweight'' at Morgan Stanley, which said ``trends deteriorated more than expected'' in the third quarter.

General Electric Co. (GE US) dropped 9 percent to $22.29, the lowest since February 2003. The Fairfield, Connecticut-based company sold stock at a 9.2 percent discount to yesterday's closing price, according to two people with direct knowledge of the sale.

Las Vegas Sands Corp. (LVS US) fell 13 percent to $27.19 and earlier dropped to $27.05, the lowest intraday price since shares went public in December 2004. The world's largest casino company by market value was cut to ``equal weight'' from ``overweight'' at Morgan Stanley.

Marriott International Inc. (MAR US) dropped 2.8 percent to $24.38 and earlier fell as much as 11 percent for the steepest decline in seven years. The world's largest hotel chain forecast a steeper drop in 2009 earnings than analysts estimated as the rest of the world follows the U.S. in cutting back on travel. Third-quarter profit fell 28 percent.

Monsanto Co. (MON US) fell 18 percent to $80.71 and earlier tumbled 21 percent for the biggest loss since October 2000. The world's biggest seed producer was cut to ``neutral'' from ``buy'' at Merrill Lynch.

Standard Microsystems Corp. (SMSC US) slid 9.9 percent to $23.02 and tumbled as much as 13 percent for the steepest drop since April 2006. The maker of chips for multimedia systems in Toyota Motor Corp. cars said profit fell in the second quarter on higher taxes and lower sales. The company's forecasts for third- quarter revenue and earnings trailed analysts' estimates.

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