By Cordell Eddings
Jan. 6 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading today. Stock symbols are in parentheses, and share prices are as of 8 a.m. in New York, unless otherwise specified.
Best Buy Co. (BBY US) rose as much as 4 percent to $31.20 in trading before the official open of U.S. exchanges. The largest U.S. electronics retailer said it plans to sell refurbished Apple Inc. iPhones for $50 less than new models. Previously owned 8 gigabyte iPhones will go on sale today for $149 and 16-gigabyte versions for $249 in 350 U.S. Best Buy stores. The sales will expand to all 1,000 stores by the end of the month.
Datalink Corp. (DTLK US): The data-storage company said in a statement of preliminary results that fourth-quarter profit was as much as 8 cents a share, compared with a previous forecast of profit of as much as 14 cents. The stock rose 5.6 percent to $3.38 in regular trading yesterday.
Emulex Corp. (ELX US): The maker of computer chips and cards said it expects to report profit of 20 cents a share for its second quarter, which ended Dec. 28. Emulex in October projected profit in a range of 20 cents to 23 cents. The stock was cut to “neutral” from “buy” at Goldman Sachs Group. Emulex fell 3 percent to $7.11 in regular trading yesterday.
Evergreen Solar Inc. (ESLR US) dropped 7.7 percent to $3.32. The maker of wafers used in solar-power panels idled production at its plant in Marlboro, Massachusetts, and expects to incur a $25 million fourth-quarter charge to write down its value.
Imation Corp. (IMN US) dropped 8.4 percent to $13.20. The maker of Memorex brand DVDs and videotapes lowered its fourth quarter sales forecast to $530 million to $540 million. Analysts surveyed by Bloomberg expected $555 million in sales for the quarter.
Indevus Pharmaceuticals Inc. (IDEV US) rallied 69.35 percent to $5.25. Endo Pharmaceuticals Holdings Inc. (ENDP US) said it will buy Indevus for as much as $637 million and expand it sales force by 100 people.
LDK Solar Co. American depositary receipts (LDK US) fell 13 percent to $12.86. The Chinese maker of silicon wafers used in solar cells said fourth-quarter revenue was as much as $435 million, missing the earlier forecast as customers delayed orders amid a worsening economy. Analysts had expected $551.3 million, according to a Bloomberg survey.
Lithia Motors Inc. (LAD US): The operator of 98 U.S. auto dealerships said the company won’t pay a dividend for 2008’s fourth quarter because of the “economic environment.” The stock fell 0.9 percent to $3.27 in regular trading.
To contact the reporter on this story: Cordell Eddings in New York at ceddings@bloomberg.net
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