BB&T, General Growth, Nike, Scholastic: U.S. Equity Preview

By Lynn Thomasson

Dec. 18 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 8 a.m. in New York, unless otherwise specified.

BB&T Corp. (BBT US) dropped 3.8 percent to $29.08. The fourth-best performing stock in the KBW Bank Index this year was cut to “sell” from “neutral” by analysts at Goldman Sachs Group Inc.

CIT Group Inc. (CIT US) added 2.7 percent to $4.60. The commercial finance firm that ran short of cash this year raised $300 million in a secondary share sale. The lender sold 75 million shares for $4 each, less than yesterday’s closing price of $4.48, according to Bloomberg data.

General Growth Properties Inc. (GGP US) gained 22 percent to $1.93. The second-largest U.S. shopping mall owner said lenders agreed to extend a deadline to pay or refinance $900 million in loans for Las Vegas properties.

Huntsman Corp. (HUN US) increased 3.2 percent to $3.26. Citadel Investment Group LLC reduced its stake in the chemical maker to 7 percent and said it plans to sell the rest after Huntsman allowed Apollo Management LP to cancel its buyout.

MEMC Electronics Materials Inc. (WFR US) slid 8.5 percent to $15.25. The maker of silicon wafers for the solar industry reduced its sales forecast, saying revenue will $425 million at most in the fourth quarter. That trailed the average estimate of $485 million from analysts in a Bloomberg survey.

MF Global Ltd. (MF US): The derivatives broker said it will give up its 48 percent stake in the U.S. Futures Exchange as the Chicago market puts itself up for sale.

Nike Inc. (NKE US) fell 1.1 percent to $50.10. The world’s largest athletic-shoe maker said second-quarter revenue totaled $4.59 billion. That missed the average estimate of $4.68 billion by analysts in a Bloomberg survey.

Scholastic Corp. (SCHL US) slumped 15 percent to $14. The U.S. publisher of the Harry Potter novels said full-year profit from continuing operations will be $1.50 a share, excluding some costs. In September, Scholastic estimated earnings of at least $1.75.

Take-Two Interactive Software Inc. (TTWO US) tumbled 19 percent to $9.75. The publisher of the “Grand Theft Auto” video games unexpectedly projected a first-quarter loss and a profit shortfall for fiscal 2009.

Wausau Paper Corp. (WPP US): The maker of paper products said it now expects to break even, excluding some items, in the fourth quarter. Analysts, on average, projected profit of 2 cents a share, according to a Bloomberg survey.

To contact the reporter on this story: Lynn Thomasson in New York at lthomasson@bloomberg.net.