BP, CBS, Joy Global, SonicWall, Transocean: U.S. Equity Preview
Thursday, June 3, 2010
June 3 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 7:50 a.m. in New York.
Blue Coat Systems Inc. (BCSI US) climbed 5 percent to $23.50. The provider of Internet security for corporations was raised to "outperform" from "market perform" at FBR Capital Markets Corp.
BP Plc (BP US) rose 3.7 percent to $39.05. The company may be forced to sell some of its most valuable assets to help pay for the worst oil spill in U.S. history, said Douglas Ober, chief executive officer at Petroleum & Resources Corp.
Transocean Ltd. (RIG US), owner of the rig used at BP's Gulf of Mexico well that's leaking oil, gained 2.9 percent to $49.75.
CBS Corp. (CBS US): The most-watched U.S. broadcast network's Chief Executive Officer Leslie Moonves said at a conference in New York that the marketplace for television ads is "very strong" and "a lot of deals" will be completed this week for commercials next season on the CBS network.
Cephalon Inc. (CEPH US): The biopharmaceutical company said it is halting research into Nuvigil as a supplemental treatment for schizophrenia after the drug failed to show any benefit over a placebo in a study.
Dynamex Inc. (DDMX US) fell 4.7 percent to $15.30. The provider of same-day delivery services in the U.S. and Canada lowered its earnings forecast for the current fiscal year to as low as $1.05 per share. The average analyst estimate is $1.21 according to Bloomberg data.
Hovnanian Enterprises Inc. (HOV US): The largest homebuilder in New Jersey reported its net loss narrowed to $28.6 million, or 36 cents a share, for the second fiscal quarter, from a loss of $118.6 million, or $1.50, a year earlier. The average estimate of six analysts in a Bloomberg survey was for a loss of 63 cents a share.
Joy Global Inc. (JOYG US) gained 12 percent to $58.50. The maker of mining equipment raised its sales forecast for this year to as much as $3.4 billion, up from the prior maximum of $3 billion.
Medtronic Inc. (MDT US): The biggest maker of heart-rhythm devices said data show Medtronic deep brain stimulation provides sustained motor function improvement in Parkinson's disease patients.
SonicWall Inc. (SNWL US) jumped 25 percent to $11.21. Cisco Systems Inc.'s (CSCO US) competitor in Internet security equipment agreed to be taken over for $717 million, or $11.50 a share, by an investor group led by Thoma Bravo LLC
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