Economic Calendar

Tuesday, November 4, 2008

Mastercard, Principal Financial, Viacom: U.S. Equity Preview

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By Whitney Kisling

Nov. 3 (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 5:20 p.m. in New York, unless otherwise specified.

Standard & Poor's 500 Index futures expiring in December slid 1.10, or 0.1 percent, to 966.4. Dow Jones Industrial Average futures gained 34, or 0.4 percent, to 9,332. Nasdaq-100 Index futures lost 1.50, or 0.1 percent, to 1,340.

Automatic Data Processing Inc. (ADP US) rallied 2.8 percent to $34.20. 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.

Blackbaud Inc. (BLKB US) rose 1.4 percent to $15.45. 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.

Coldwater Creek Inc. (CWTR US) slid 5.9 percent to $3.21. 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.

Herbalife Ltd. (HLF US) fell 12 percent to $22.45. 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 6.6 percent to $153.36. 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. The settlement with Discover Financial Services allows Mastercard to focus on expanding credit and debit-card revenue amid the economic slowdown.

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 rallied 18 percent to $22.39 in regular trading.

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.

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




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