Cirrus Logic, Jefferies, Jo-Ann, Synopsys: U.S. Equity Preview

By Lu Wang

Dec. 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 5:15 p.m. in New York, unless otherwise specified.

Standard & Poor’s 500 Index futures expiring in December added 19.50, or 2.3 percent, to 868.50. Dow Jones Industrial Average futures climbed 147, or 1.7 percent, to 8,579. Nasdaq- 100 Index futures gained 23, or 2 percent, to 1,156.

Adobe Systems Inc. (ADBE US): The biggest maker of design software cut its forecast for fourth-quarter sales to as much as $915 million. Analysts on average predicted $926.8 million, according to a Bloomberg survey. The stock added 2.5 percent to $22.54 in regular trading.

Cirrus Logic Inc. (CRUS US) fell 33 cents, or 7.8 percent, to $3.90 in trading after the official close of exchanges. The graphics chipmaker reduced its forecast, saying it expects revenue of as much as $45 million in the fiscal third quarter. That trailed the average analyst estimate of $52.9 million in a Bloomberg survey.

Intersil Corp. (ISIL US) slipped 98 cents, or 11 percent, to $8.10. The semiconductor maker said it expects fourth-quarter profit of as much as 12 cents a share, excluding some items. That missed the 13-cent average estimate from analysts in a Bloomberg survey.

Jefferies Group Inc. (JEF US): The brokerage specializing in mid-size companies said it expects to report a fourth-quarter loss of about $400 million as it cuts jobs and shuts offices. The stock rose 5 percent to $11.63 in regular trading.

Jo-Ann Stores Inc. (JAS US) dropped $1.49, or 11 percent, to $12.30. The largest U.S. fabric retailer cut its full-year profit forecast to a range of 75 cents to 85 cents a share. Analysts, on average, expected the company to earn $1.07, according to a Bloomberg survey.

Synopsys Inc. (SNPS US) rose 71 cents, or 4.7 percent, to $15.80. The maker of semiconductor-design software said that, excluding some items, it earned 43 cents a share in the fourth quarter. That topped the average analyst estimate by 14 percent, according to Bloomberg data.

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