By Lu Wang
May 8 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses.
Allstate Corp. (ALL US): The largest publicly traded U.S. home and auto insurer posted its third straight quarterly loss on investment writedowns and declines in private equity and hedge fund holdings. Profit before investment losses was 84 cents a share, compared with the $1.25 estimate of 14 analyst surveyed by Bloomberg.
American International Group Inc. (AIG US): The insurer reported its sixth straight loss tied to investment markdowns. The loss excluding some investment results was 97 cents a share, wider than the 13-cent average loss estimate from analysts surveyed by Bloomberg.
CBS Corp. (CBS US): The owner of the most-watched television network reported an unexpected first-quarter loss as advertisers cut spending during the U.S. recession.
Fuel Systems Solutions Inc. (FSYS US): The company whose devices allow internal-combustion engines to run on alternative fuels reported profit excluding some items of 44 cents a share in the first quarter, more than double the average analyst estimate, according to Bloomberg data.
Genworth Financial Inc. (GNW US): The life insurer and mortgage guarantor that failed to qualify for U.S. aid reported a fourth straight quarterly loss as the value of holdings backing insurance policies plummeted.
Morgan Stanley (MS US): The sixth-biggest U.S. bank by assets said it plans to raise $2 billion in a share sale and $3 billion by selling debt that’s not guaranteed by the government.
Wells Fargo & Co. (WFC US): The biggest U.S. mortgage originator must raise $13.7 billion after the government’s stress test found the bank had too little common equity to withstand a prolonged recession. The company said earlier it plans to sell $6 billion of common stock.
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net
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