Bayer, MVV, Nordex, Repower, Salzgitter: German Equity Preview

By Nadja Brandt and Stefanie Haxel

Nov. 20 (Bloomberg) -- The following companies may have unusual price changes in Germany. Stock symbols are in parentheses, and share prices are from the previous close.

DAX Index futures expiring in December declined 142, or 3.3 percent, to 4,212 as of 8:10 a.m. in Frankfurt. The DAX fell 4.9 percent to 4,354.09 yesterday.

BASF SE (BAS GY): Citigroup Inc. cut its recommendation on the world's largest chemical maker to ``sell'' from ``hold.''

Separately, Societe Generale SA upgraded the shares to ``buy'' from ``hold.'' The stock tumbled 3.47 euros, or 14 percent, to 21.96.

Bayer AG (BAY GY): Germany's biggest drugmaker faces at least two consumer lawsuits arising from a warning by U.S. regulators that it was illegally selling pills combining aspirin with dietary supplements to fight osteoporosis and high cholesterol. Bayer slid 1.59 cents, or 4 percent, to 37.99 euros.

Bayerische Motoren Werke AG (BMW GY): The world's largest maker of luxury cars predicts a profit for 2009 even as a recession looms in Europe and General Motors Corp. said the U.S. market is the worst since World War II. The shares fell 2.875 euros, or 13 percent, to 18.93.

Gagfah SA (GJF GY): Germany's largest publicly traded residential landlord said it made a loss in the third quarter as the value of its apartments dropped. The shares plunged 38 cents, or 12 percent, to 2.67 euros.

MVV Energie AG (MVV1 GY): The operator of seven local German utilities reported preliminary fiscal full-year net income of 170 million euros on sales of 2.6 billion euros. The shares advanced 3 cents, or 0.1 percent, to 31.03 euros.

Nordex AG (NDX1 GY): The windmill maker said nine-month net income rose 40 percent to 29.2 million euros on sales outside its home country and financial income. The shares fell 1.78 euros, or 16 percent, to 9.24.

Repower Systems AG (RPW GY): Suzlon Energy Ltd. won't move for a ``domination'' agreement of the wind turbine builder, Financial Times Deutschland reported, citing Tulsi Tanti, founder of the Ahmedabad, India-based company. Repower shares slid 7.95 euros, or 7.6 percent, to 97.25.

Salzgitter AG (SZG GY): HSBC Holdings Plc downgraded the country's second-largest steelmaker to ``neutral'' from ``overweight.'' The shares declined 2.50 euros, or 5.6 percent, to 42.24.

Sixt AG (SIX2 GY): Germany's largest car-rental operator said third-quarter net income dropped 7.7 percent to 66.1 million euros because of higher financing costs and slashed its full-year profit forecast. Sixt lost 34 cents, or 3 percent, to 10.87 euros.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net; Stefanie Haxel in Frankfurt at shaxel@bloomberg.net.