Economic Calendar

Saturday, November 15, 2008

ConocoPhillips, Genworth, Gilead, Xcel: U.S. Equity Preview

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By Lu Wang

Nov. 14 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading on Nov. 17. 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 46.20, or 5.1 percent, to 861.50. Dow Jones Industrial Average futures fell 459, or 5.2 percent, to 8,371. Nasdaq-100 Index futures slipped 79, or 6.4 percent, to 1,155.50.

ConocoPhillips (COP US) rose $1.17, or 2.5 percent, to $48.56 in trading after the official close of exchanges. Warren Buffett's Berkshire Hathaway Inc. (BRK/A US) increased its stake in the oil producer and held more than 83 million shares as of Sept. 30, according to a regulatory filing.

Gilead Sciences Inc. (GILD US) fell $1.10, or 2.3 percent, to $45.82. The leading maker of AIDS treatments said Teva Pharmaceutical Industries Ltd. (TEVA IT) has expressed its intention to make a generic version of Gilead's top-selling drug Truvada.

Lincoln National Corp. (LNC US): The insurer and Genworth Financial Inc. (GNW US) plan to buy savings and loan companies, a move that may make them eligible for the Treasury's $700 billion bailout program, according to Office of Thrift Supervision spokesman Bill Ruberry. Lincoln lost 5.2 percent to $14.35 in regular trading while Genworth slipped 3.9 percent to $1.47.

Xcel Energy Inc. (XEL US): The biggest U.S. supplier of wind-generated power to retail customers proposed a $174.7 million electricity rate increase for Colorado. The stock fell 1.6 percent to $17.98 in regular trading.

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




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