Economic Calendar

Monday, November 3, 2008

Boeing, Danaos, Rowan, Societe Generale: U.S. Equity Preview

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By Whitney Kisling

Nov. 2 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading tomorrow. Stock symbols are in parentheses, and share prices are as of 5:10 p.m. in New York on Oct. 31, unless otherwise specified.

Standard & Poor's 500 Index futures expiring in December rose 5.80, or 0.6 percent, to 967.30. Dow Jones Industrial Average futures gained 72, or 0.8 percent, to 9,298. Nasdaq-100 Index futures lost 20.25, or 1.5 percent, to 1,324.75.

Boeing Co. (BA US): The planemaker's machinists began returning to work today after accepting a contract with 15 percent raises, ending a strike that had idled factories for eight weeks and cut profit by about $10.3 million a day. Boeing stock rose $1.72, or 3.4 percent, to $52.42.

Danaos Corp. (DAC US) gained 34 cents, or 4 percent, to $8.68. The largest publicly-traded container shipper in the U.S. posted third-quarter profit excluding some items of 48 cents a share, beating the average analysts' estimate by 6.7 percent. The company also said it added more vessels to its fleet.

JPMorgan Chase & Co. (JPM US): The banking company, which has bought Washington Mutual Inc. and Bear Stearns Cos. this year, may post a 50 percent share price increase once the economy improves, Barron's reported, without citing anyone. JPMorgan shares gained $3.63, or 9.7 percent, on Oct. 31 to $41.25.

Molson Coors Brewing Co. (TAP US): rose 4.3 percent to $37.36 in regular trading. The brewer may rise as much as 50 percent to $56 during the next 12 months as its venture with SABMiller Plc helps the company gain market share in the U.S., Barron's said, citing Kim Scott, who manages the Ivy Mid-Cap Growth Fund.

NewBridge Bancorp. (NBBC US) climbed 2.7 percent to $3.77 in regular trading. The bank holding company suspended its cash dividend after posting a loss of 10 cents a share for the third quarter. The company also applied for $52 million under the U.S. Treasury's TARP program.

Rowan Cos. (RDC US) fell 2.8 percent to $18.14 in regular trading. The oil and natural gas driller that builds its own equipment said Chief Executive Officer Daniel F. McNease will retire at the end of the year.

Societe Generale SA (SCGLF US): France's second-largest bank by market value, may rise at least 20 percent as credit markets worldwide stabilize, Barron's reported, without citing anyone. The bank's U.S. shares rose $5.20, or 11 percent, to $51.40.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net




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