AIG, Dish, HSBC, Rio Tinto, State Street: U.S. Equity Preview

By Rita Nazareth

March 2 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 7:55 a.m. in New York.

Commodities producers tumbled as copper fell in Asia and London, leading a decline in most industrial metals, and oil slipped 5.5 percent in New York.

Rio Tinto Plc (RTP US) slipped 4.1 percent to $97.82. BHP Billiton Ltd (BHP US) fell 4.7 percent to $34.70. ArcelorMittal (MT US) declined 5.5 percent to $18.26. BP Plc (BP US) dropped 4.2 percent to $36.74.

American Express Co. (AXP US) fell 6.3 percent to $11.30. The largest U.S. credit-card company by purchases revised its fourth-quarter net income to $240 million from $172 million because of a “calculation error.”

American International Group Inc. (AIG US) surged 21 percent to 51 cents. The insurer that posted a $61.7 billion fourth- quarter loss will get up to $30 billion in new government capital in a revised bailout, the U.S. Treasury and Federal Reserve said.

AT&T Inc. (T US): the second-largest U.S. phone company was added to Goldman Sachs Group Inc.’s “conviction buy” list, which cited an aggressive estimate reset, a safe dividend, and positive trends in upcoming first quarter.

Baxter International Inc. (BAX US): The world’s largest maker of blood-disease treatments may rise as much as 20 percent by year’s end as profits climb and the company buys back shares, Barron’s reported, without citing anyone.

Citigroup Inc. (C US): A measure of the financial strength at the bank is likely to improve on the government plan to convert preferred stock into common shares, which may make the company appealing to some investors, Barron’s reported, without citing anyone.

Dish Network Corp. (DISH US): The second-biggest U.S. satellite television provider reported fourth-quarter earnings of 48 cents per share, a penny below the average analyst estimate.

HSBC Holdings Plc (HBC US): Europe’s largest bank by market value plans to raise 12.5 billion pounds ($17.7 billion) in the U.K.’s biggest rights offering as subprime losses cut 2008 profit to $5.73 billion, 58 percent less than the average analyst estimate.

HSBC plunged 21 percent to $27.60. Lloyds Banking Group Plc (LYG US) lost 11 percent to $2.90. ING Groep NV (ING US) declined 3.8 percent to $4.34. Barclays Plc (BCS US) fell 4.1 percent to $4.93. UBS AG (UBS US) dropped 4.2 percent to $8.67. Credit Suisse Group AG (CS US) slipped 5.7 percent to$22.79.

KeyCorp (KEY US): The second-largest bank based in Ohio said one of its investment funds lost as much as $186 million from Bernard Madoff’s alleged Ponzi scheme.

State Street Corp. (STT US): The world’s largest money manager for institutions was cut to “neutral” from “buy” at Goldman Sachs Group Inc., citing “a big earnings headwind.”

Stericycle Inc. (SRCL US): The company, which disposes of used hypodermic needles and other medical treatment byproducts, may rise to $66 during the next two years as demand for its services increase and sales rise, Barron’s reported, citing Neal Kaufman, an analyst at Baron Capital Inc. in New York. Stericycle shares rose 0.9 percent to $47.98.

Woodward Governor Co. (WGOV US) plunged 15 percent to $14.60. The maker of turbine systems said full-year profit will be lower than its previous forecast as customers order less amid the worsening economy.

To contact the reporters on this story: Rita Nazareth in New York at nazareth@bloomberg.net.