Con-way, FedEx, GM, Texas Instruments, UPS: U.S. Equity Preview

By Lynn Thomasson

Dec. 8 (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 5:40 p.m. in New York, unless otherwise specified.

Standard & Poor’s 500 Index futures expiring in December slid 0.6 percent to 899.4. Dow Jones Industrial Average futures lost 45 points, or 0.5 percent, to 8,830. Nasdaq-100 Index futures dropped 5, or 0.4 percent, to 1,207.

Con-way Inc. (CNW US): The second-largest U.S. trucking company slashed its 2008 earnings forecast to as much as 20 percent less than the average estimate from analysts and cut 1,450 jobs as freight volumes fell. Con-way shares rose 3.5 percent to $25.77 in regular trading.

Danaher Corp. (DHR US): The maker of Craftsman tools said fourth-quarter profit will be lower than previously forecast and the company will cut 1,700 jobs. The stock rose 3.2 percent to $51.96 in regular trading.

FedEx Corp. (FDX US) sank 11 percent to $66.15 in trading after the official close of exchanges. The second-biggest U.S. package-shipping company lowered its fiscal 2009 earnings forecast to no more than $4.75 a share from as much as $5.25, blaming the “significantly weaker” economy.

United Parcel Service Inc. (UPS US) fell 4.5 percent to $56.

General Motors Corp. (GM US), whose shares surged 21 percent today in regular trading, dropped 5.7 percent to $4.65. Congressional Democrats sent President George W. Bush a draft proposal for a $15 billion, short-term rescue of U.S. automakers and said it will likely be voted on this week. Final details are yet to be worked out and White House officials said they don’t agree with all parts of the legislation.

Ford Motor Co. (F US), the second-biggest U.S.-based automaker, declined 7.4 percent to $3.13.

National Semiconductor Corp. (NSM US) slid 7.3 percent to $9.54. The maker of chips for the five largest mobile-phone makers forecast third-quarter sales that trailed analysts’ estimates as the U.S. recession damped demand for handsets.

Texas Instruments Inc. (TXN US) lost 3.8 percent to $14.25. The second-largest U.S. chipmaker predicted sales and profit that missed analysts’ estimates as the economic slump cut into demand for electronics.

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