By Eric Martin
Dec. 9 (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.
Standard & Poor’s 500 Index futures expiring in December added 0.1 percent to 905.4. Dow Jones Industrial Average futures lost 5 points, or 0.1 percent, to 8,870. Nasdaq-100 Index futures increased 1.5, or 0.1 percent, to 1,213.5.
Con-way Inc. (CNW US) fell 6.8 percent to $24.02. 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.
Danaher Corp. (DHR US) lost 78 cents to $51.18. The maker of Craftsman tools said fourth-quarter profit will be lower than previously forecast and the company will cut 1,700 jobs.
FedEx Corp. (FDX US) sank 9.4 percent to $67.40. 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 5.8 percent to $55.24 in trading after the close of U.S. exchanges yesterday.
General Motors Corp. (GM US) dropped 2.2 percent to $4.82. 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. The second-biggest U.S. automaker said it won’t seek a short-term bridge loan from the government because it doesn’t face a “near-term liquidity issue.”
National Semiconductor Corp. (NSM US) decreased 1.2 percent to $10.17. 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 3.5 percent to $14.30. The second-largest U.S. chipmaker predicted sales and profit that missed analysts’ estimates as the economic slump cut into demand for electronics.
US Airways Group Inc. (LCC US) gained 3.3 percent to $8.15. Airline industry losses in 2009 may shrink to half this year’s level as a decline in fuel costs more than makes up for a reduction in the number of people flying. Carriers may lose a total of $2.5 billion next year, compared with $5 billion in the current 12 months, the International Air Transport Association said.
To contact the reporter on this story: Eric Martin in New York at emartin21@bloomberg.net.
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