By Rita Nazareth
April 1 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses.
3M Co. (MMM US): The maker of more than 55,000 products from Post-it Notes to electronic road signs said it cut 1,200 jobs, or about 1.5 percent of its workforce, in the first quarter.
Boeing Co. (BA US): The second-largest commercial-plane maker was cut to “market perform” at Wachovia Corp., which said Boeing may announce cuts in 2010 jet production.
Celgene Corp. (CELG US): The maker of cancer drug Revlimid said it expects 2009 profit at the lower end of its previously forecast range of $2.05 to $2.15 a share.
General Motors Corp. (GM US): President Barack Obama has determined that a prepackaged bankruptcy is the best way for GM to restructure and become a competitive automaker, people familiar with the matter said.
Google Inc. (GOOG US): The world’s largest Internet search engine had its first-quarter revenue estimate cut at Goldman Sachs Group Inc. to a decline of 3 percent versus the October- to-December period because of declines in the euro and pound. Analyst James Mitchell said the reduction doesn’t change his “broadly positive view of Google’s stock.”
Oshkosh Corp. (OSK US): The maker of scissor lifts and military trucks said it expects as much as $1.5 billion in charges to write down goodwill and other intangible assets in its fiscal second quarter.
Salesforce.com Inc. (CRM US): The biggest seller of online customer-management software was added to the “conviction sell” list at Goldman Sachs Group Inc., which said slowing technology spending may drag down earnings.
VMware Inc. (VMW US): The biggest maker of programs that let computers run multiple operating systems was added to the “conviction buy” list at Goldman Sachs Group Inc., which said the stock may rise 23 percent as sales increase.
To contact the reporter on this story: Rita Nazareth in New York at nazareth@bloomberg.net.
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