By Nadja Brandt and Mike Gavin
Feb. 24 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Germany. Stock symbols are in parentheses, and share prices are from the previous close.
DAX Index futures expiring in March declined 1.2 percent to 3,897.5 as of 8:31 a.m. in Frankfurt. The DAX fell 2 percent to 3,936.45 yesterday.
Bayerische Motoren Werke AG (BMW GY): The world’s largest maker of luxury cars was lowered to “underweight” from “overweight” at Morgan Stanley, which said sales may fall by one-third by 2010. The stock slid 5.4 percent to 20.15 euros.
Demag Cranes AG (D9C GY): The world’s biggest maker of mobile harbor cranes named Aloysius Rauen as chairman of the management board, replacing Harald Joos. Joos is leaving “by mutual consent with the supervisory board because of differing views,” effective March 31, Demag said yesterday. The shares added 0.4 percent to 17.40 euros.
Draegerwerk AG (DRW3 GY): The maker of the Infinity ACS patient-monitoring system proposed a dividend of 35 cents per preferred share after full-year net income declined 23 percent to 46.6 million euros ($59.4 million). The shares retreated 0.5 percent to 19.92 euros.
ProSiebenSat.1 Media AG (PSM GY): Germany’s biggest private broadcaster was given a “short-term buy” rating at UBS AG, which cited its “scope for outperformance” around its full-year earnings scheduled for next month. The brokerage maintained its 12-month “neutral” recommendation. The shares fell 3 percent to 1.31 euros.
Q-Cells SE (QCE GY): Germany’s largest solar company cut its sales outlook for this year as prices for its products tumble. Profit and sales in 2008 beat a forecast from December. The shares declined 7.2 percent to 13.44 euros.
Solon SE (SOO1 GY): The solar company said full-year earnings before interest and taxes rose to 60 million euros from 35.2 million euros. The shares sank 7.8 percent to 8.70 euros.
To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net; Mike Gavin in Frankfurt at mgavin2@bloomberg.net
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