Economic Calendar

Friday, October 30, 2009

Genworth, McAfee, MetLife, Priceline.com: U.S. Equity Preview

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By Lynn Thomasson and Sapna Maheshwari

Oct. 30 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses.

Bare Escentuals Inc. (BARE US): The maker of mineral-based cosmetics reported third-quarter profit of 24 cents a share, exceeding the average analyst estimate by 17 percent, according to data compiled by Bloomberg.

Endurance Specialty Holdings Ltd. (ENH US): The Bermuda- based reinsurance company reported third- quarter adjusted earnings of $2.41 a share, exceeding the average analyst estimate of $1.38 a share. The company also reported adjusted net income that beat analyst estimates.

Genworth Financial Inc. (GNW US): The life insurer and mortgage guarantor reported its first profit in six quarters on improved investment results. Operating income available to common shareholders, which excludes some investment results, was 18 cents, beating by 15 cents the average estimate of 16 analysts surveyed by Bloomberg.

Las Vegas Sands Corp. (LVS US): The casino company run by billionaire Sheldon Adelson said Las Vegas convention business is recovering, after collapsing during the recession.

Manitowoc Co. (MTW US): The maker of cranes and machinery reported third-quarter sales, adjusted net income and adjusted earnings that missed analysts’ estimates. The company reported a quarterly loss of 4 cents a share, compared with the average analyst estimate of 7 cents in profit.

McAfee Inc. (MFE US): The second-biggest maker of security software reported third-quarter sales that fell short of some analysts’ estimates as the company took fewer clients from rival Symantec Corp.

MetLife Inc. (MET US): The biggest U.S. life insurer posted its third straight loss as the bond market rally that helped restore profits at smaller rivals weighed on results.

Priceline.com Inc. (PCLN US): The online travel agency will replace Schering-Plough Corp., the drugmaker being acquired by Merck & Co., in the Standard & Poor’s 500 Index.

Tessera Technologies Inc. (TSRA US): The maker of semiconductor technology predicted fourth- quarter sales of no more than $62 million, missing the average analyst forecast of $68.9 million, according to data compiled by Bloomberg.

Varian Medical Systems Inc. (VAR US): The maker of radiation equipment used to treat cancer projected first-quarter profit of no more than 56 cents a share, missing the average analyst estimate of 62 cents a share in a Bloomberg survey.

To contact the reporters on this story: Lynn Thomasson in New York at lthomasson@bloomberg.net; Sapna Maheshwari in New York at smaheshwar11@bloomberg.net.




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