Economic Calendar

Wednesday, September 16, 2009

Adobe, Garmin, Olin, Omniture, PPG, Rambus: U.S. Equity Preview

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By Lu Wang

Sept. 16 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses.

China Green Agriculture Inc. (CGA US): The Chinese fertilizer producer forecast sales of $11.2 million at most for the September quarter. That trailed the average estimate of $12 million from two analysts surveyed by Bloomberg.

Garmin Ltd. (GRMN US): The biggest U.S. maker of navigation devices was raised to “hold” from “buy” at Deutsche Bank AG.

Omniture Inc. (OMTR US): The maker of software that allows companies to gauge the effectiveness of their online advertising agreed to be bought by Adobe Systems Inc. (ADBE US) for $21.50 a share, or $1.8 billion. Adobe slipped 3.8 percent to $34.26.

PPG Industries Inc. (PPG US): The world’s second-biggest paint maker was upgraded to “neutral” from “sell” at UBS AG, which said earnings from chlorine and caustic soda sales will improve from the second quarter.

The brokerage also raised the rating for Olin Corp. (OLN US), North America’s third-largest chlorine producer, to “neutral” from “sell.”

Rambus Inc. (RMBS US): The designer of chips for Sony Corp.’s PlayStation video-game console said it expects revenue for the third quarter to be at least $27 million, boosting its forecast from an earlier projection of $25 million at most.

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net




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