Danaher, Equitable, Ford, GM, Lear, Waters: U.S. Equity Preview

By Lynn Thomasson

Dec. 12 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 6 a.m. in New York, unless otherwise specified.

Bank of America Corp. (BAC US) fell 3 percent to $14.46 in Germany. The third-largest U.S. bank said it plans to eliminate as much as 12 percent of its workforce over the next three years as a weak economy guts the financial-services industry.

Danaher Corp. (DHR US) slumped 5.6 percent to $46.91 in Germany. The maker of Craftsman tools said next year may be "difficult" and estimated 2009 profit as low as $3.70 a share, compared with the average analyst estimate of $4.07 in a Bloomberg survey.

Equitable Resources Inc. (EQT US) gained 3.3 percent to $32.15 in extended trading yesterday. The producer of oil and natural gas was picked to replace Transocean Inc. (RIG US) in the Standard & Poor’s 500 Index, S&P said. Transocean slid 4.6 percent to $55.43. The world’s offshore oil driller plans to switch its incorporation to Switzerland, making it ineligible for the index.

Esterline Technologies Corp. (ESL US) gained 4.4 percent to $33.40. The manufacturer of jet-engine parts reported fourth- quarter profit excluding some items of $1.38 a share, or 30 percent more than the average analyst estimate in a Bloomberg survey.

Furniture Brands International Inc. (FBN US): The maker of Broyhill and Thomasville chairs and tables said it’s cutting 1,400 jobs, or about 15 percent of its U.S. workforce, because of "continuing soft retail-market conditions."

General Motors Corp. (GM US) plunged 39 percent to $2.53. The biggest U.S. automaker may be in bankruptcy within weeks, followed shortly by Chrysler LLC, after the Senate rejected a $14 billion rescue and the companies’ options for survival dwindled.

Ford Motor Co. (F US), the nation’s second-largest automaker, slumped 10 percent to $2.60. Lear Corp. (LEA US) retreated 3.1 percent to $1.87 in Germany.

Legg Mason Inc. (LM US): The mutual-fund operator booked a $517 million loss on the sale of debt issued by Axon Financial Funding Ltd., cutting its holdings in structured investment vehicles by 43 percent.

Waters Corp. (WAT US) tumbled 8.6 percent to $38.29. The maker of equipment for chemical analysis said fourth-quarter profit excluding some items may be as low as 94 cents a share, or 13 percent less than the average analyst estimate in a Bloomberg survey.

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