Economic Calendar

Tuesday, November 4, 2008

Ameren, CKX, Otter Tail, Talisman Energy: U.S. Equity Preview

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By Elizabeth Campbell and Whitney Kisling

Nov. 4 (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 8:25 a.m. in New York, unless otherwise specified.

Ameren Corp. (AEE US) slid 5.3 percent to $30.45. The owner of utilities in Missouri and Illinois reported third-quarter profit, excluding some items, of $1.17 a share, missing the average analyst estimate of $1.27 a share, according to Bloomberg data. Ameren lowered its full-year forecast to a range of $2.80 to $3 a share from a previous estimate of $2.80 to $3.20 a share.

Archer-Daniels-Midland Co. (ADM US) gained 15 percent to $24.36. The world's largest grain processor reported first- quarter profit, excluding some items, of $1.62 a share, beating the average analyst estimate of 72 cents a share, according to Bloomberg data.

Automatic Data Processing Inc. (ADP US): The world's biggest payroll manager posted fiscal first-quarter profit of 54 cents a share, exceeding the average analyst estimate from a Bloomberg survey. The company also reaffirmed its 2009 earnings forecast. The shares rose 18 cents to $33.45.

Blackbaud Inc. (BLKB US) rose 1.4 percent to $15.45 in late-trading yesterday. The designer of software programs for nonprofit organizations posted third-quarter profit excluding some items of 26 cents a share, beating the average analyst estimate by 4 percent.

CKX Inc. (CKXE US) slipped 4.1 percent to $4.01. The owner of the ``American Idol'' brand said a group led by Chief Executive Officer Robert F.X. Sillerman ended plans to acquire the company, citing the ``extraordinary national and global economic conditions.'' Sillerman now plans to pursue an ``alternative transaction for the acquisition.''

Coldwater Creek Inc. (CWTR US) slid 5.9 percent to $3.21 in late-trading yesterday. The clothing retailer for women 35 and older cut its forecast for the third quarter and withdrew its fourth-quarter forecasts, citing the ``unprecedented consumer environment.'' The company also lowered the number of stores it plans to open in 2009 to 15 from 40.

Google Inc. (GOOG US) added 2.5 percent to $355. The most popular U.S. search engine and Yahoo! Inc. (YHOO US) are scaling back their Internet-advertising agreement to win support from U.S. antitrust officials, people familiar with the matter said.

Yahoo, the U.S. search engine company that rejected takeover bids from Microsoft Corp. (MSFT US) this year, climbed 2 percent to $13.

Herbalife Ltd. (HLF US) fell 15 percent to $21.65. The seller of nutritional and weight-loss supplements lowered its forecast for the year to below analyst estimates, citing foreign exchange rates. The company also forecast 2009 earnings below estimates.

Mastercard Inc. (MA US) rallied 11 percent to $160. The world's second-biggest credit-card network posted third-quarter profit excluding some items of $2.47 a share, exceeding the average analyst estimate by 11 percent. A settlement with Discover Financial Services allows Mastercard to focus on expanding credit and debit-card revenue amid the economic slowdown.

Otter Tail Corp. (OTTR US) slumped 7.3 percent to $22.20. The provider of electricity and energy services in the upper Midwest cut its 2008 earnings estimates, citing economic conditions. The company had lowered the forecast twice before, once in August because of ``growing pains'' from its wind tower unit and an adverse energy rate ruling and once in September because of cooler weather and increased startup costs.

Principal Financial Group Inc. (PFG US): The life insurer that cut its dividend in half last month said third-quarter profit fell by 59 percent as turmoil in global credit markets caused the value of investments to plunge. The shares added 5 cents to $22.44.

Royal Bank of Scotland Group Plc American depositary receipts (RBS US) slid 13 percent to 99 cents. The Edinburgh- based bank waiting to take up the U.K.'s biggest bank bailout abandoned a full-year profit forecast as credit-market losses worsened and bad loans rose. Chief Executive Officer Stephen Hester said the company may have a full-year loss.

Talisman Energy Inc. (TLM US) advanced 6.5 percent to $10.50. The oil and natural-gas producer with about two-thirds of its reserves in North America or the North Sea said third- quarter profit more than quadrupled on record crude-oil prices and a gain on commodities contracts.

UBS AG ADRs (UBS US): The European bank with the biggest losses from the global credit crisis said ``difficult'' market conditions will further drag on the fees it earns from managing money for wealthy customers. The shares dropped 9 cents to $16.09.

Viacom Inc. (VIA/B US): The media company controlled by Sumner Redstone posted third-quarter profit excluding some items of 55 cents a share, beating the average analyst estimate. The company also reiterated its forecast for full-year adjusted earnings. The shares fell 1.1 percent to $19.99 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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