Economic Calendar

Saturday, October 25, 2008

Dillard's, National City, PNC, Thoratec: U.S. Equity Preview

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By Lu Wang

Oct. 24 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading on Oct. 27. Stock symbols are in parentheses, and share prices are as of 5:30 p.m. in New York, unless otherwise specified.

Standard & Poor's 500 Index futures expiring in December lost 49.20, or 5.4 percent, to 866. Dow Jones Industrial Average futures fell 513, or 5.8 percent, to 8,261. Nasdaq-100 Index futures slipped 62, or 4.9 percent, to 1,191.50.

Dillard's Inc. (DDS US) fell 24 cents, or 7.2 percent, to $3.10. The department-store chain may have its debt rating cut by Moody's Investors Service, which cited the company's ``continuing weak operating performance.''

PNC Financial Services Group Inc. (PNC US) fell $1.38, or 2.3 percent, to $57.50. Pennsylvania's biggest bank may have its debt rating reduced by Standard & Poor's after agreeing to buy National City Corp. (NCC US). The ratings provider said it may raise the rating for National City, Ohio's largest bank. National City dropped 25 percent to $2.07 in regular trading.

Spectra Energy Corp. (SE US): The second-biggest U.S. pipeline company by market value said it plans to expand two natural-gas lines in northern British Columbia. The stock lost 3.5 percent to $17.16 in regular trading.

Thoratec Corp. (THOR US) plunged $13.04, or 52 percent, to $12. The company said five people have died while using its mechanical heart that is smaller than a D-cell battery and urged doctors and patients to assess the devices.

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




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