Economic Calendar

Wednesday, November 26, 2008

J.Crew, Rambus, Thomas & Betts, Verigy: U.S. Equity Preview

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By Lu Wang

Nov. 25 (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 5:30 p.m. in New York, unless otherwise specified.

Standard & Poor’s 500 Index futures expiring in December lost 2.40, or 0.3 percent, to 849.70. Dow Jones Industrial Average futures slipped 27, or 0.3 percent, to 8,418. Nasdaq-100 Index futures slipped 1.75, or 0.2 percent, to 1,133.75.

J.Crew Group Inc. (JCG US) fell $1.25, or 11 percent, to $9.80 in trading after the official close of exchanges. The U.S. clothing retailer run by former Gap Inc. Chief Executive Officer Millard Drexler lowered its annual earnings forecast for the third time this year.

Rambus Inc. (RMBS US) rose 35 cents, or 5 percent, to $7.30. The designer and licensor of memory chips won a pre-trial ruling that other chipmakers infringed one claim, or element, of a patent in a case scheduled for trial in January.

Thomas & Betts Corp. (TNB US) dropped $1.40, or 7.8 percent, to $17.89. The second-largest maker of electronic connectors in North America reduced its forecast, saying it expects fourth-quarter profit from continuing operations to be close to 84 cents a share. Analysts had forecast the company would earn $1.06 on average, according to a Bloomberg survey.

TiVo Inc. (TIVO US): The pioneer of digital video recorders said that, excluding some items, it had a loss of 1 cent a share in the third quarter. Analysts, on average, expected the company to report a loss of 6 cents, according to a Bloomberg survey. The stock fell 4.7 percent to $4.43 in regular trading.

Verigy Ltd. (VRGY US): The maker of semiconductor-testing equipment forecast revenue of as much as $110 million in the first quarter. That trailed the average estimate of $119 million in a Bloomberg survey of analysts. The stock fell 12.5 percent to $8.40.

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




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