Centennial, MBIA, Rowan, Sotheby's, USG: U.S. Equity Preview
Nov. 7 (Bloomberg) -- The following companies may have unusual price changes in U.S. trading on Nov. 10. Stock symbols are in parentheses, and share prices are as of 5:30 p.m. in New York, unless otherwise specified.
Standard & Poor's 500 Index futures expiring in December added 31.70, or 3.5 percent, to 936.20. Dow Jones Industrial Average futures gained 296, or 3.4 percent, to 8,996. Nasdaq-100 Index futures climbed 48, or 3.9 percent, to 1,288.50.
Centennial Communications Corp. (CYCL:US) rose $3.57, or 93 percent, to $7.41. The Wall, New Jersey-based wireless company agreed to be bought by AT&T Inc. (T:US) for $944 million, or $8.50 a share in cash.
MBIA Inc. (MBI:US) fell $1.03, or 13 percent, to $6.95. The company's bond insurance rating was cut two levels by Moody's Investors Service, because of disruptions in the industry and the potential for more mortgage-related losses.
People's United Financial Inc. (PBCT:US): The bank holding company will replace Unisys Corp. (UIS:US) in the Standard & Poor's 500 Index, S&P said in a statement. People's United lost 0.8 percent to $16.65 in regular trading.
Rowan Cos. (RDC:US): The oil and natural-gas driller that builds its own rigs said it expects some customers will delay or cancel rig orders. The stock gained 4.4 percent to $18.80 in regular trading.
Sotheby's (BID:US): The largest publicly traded auction house said its third-quarter loss more than doubled to 71 cents a share because art sales fell in a seasonally slow period. The auction house was expected to report a loss of 22 cents, according to the mean estimate of analysts surveyed by Bloomberg. The stock rose 1 percent to $8.80 in regular trading.
USG Corp. (USG:US): North America's largest maker of gypsum wallboard said it plans to cut 900 jobs, or 20 percent of its salaried positions, in response to ``continued adverse market conditions.'' The stock fell 1.1 percent to $14.23 in regular trading.
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