Childrens Place, Marvell, Williams-Sonoma: U.S. Equity preview
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.
Applied Materials Inc. (AMAT US) declined 2.3 percent to $12.18. The largest producer of chipmaking equipment forecast first-quarter sales and profit that fell short of analysts’ predictions, a sign that semiconductor makers are scaling back expansion plans.
Childrens Place Retail Stores Inc. (PLCE US) rallied 9.6 percent to $49.30. The youth-apparel chain boosted its forecast for earnings in 2012 to as much as $3.29 a share from no more than $3.25. The average analyst estimate was $3.23 a share.
Limited Brands Inc. (LTD US): The owner of the Victoria’s Secret lingerie chain forecast profit in the fourth quarter of $1.28 a share to $1.43 a share, compared with the average analyst estimate of $1.42.
Marvell Technology Group Ltd. (MRVL US) sank 2 percent to $14.39. The maker of the processor that runs BlackBerry smartphones was cut to “market underperform” from “market perform” by Alex Gauna, an analyst at JMP Securities LLC, who wrote in a note the company faces risks to its TD-3G and Wi-Fi initiatives next year that may hamper growth in these units.
NetApp Inc. (NTAP US) fell 8.6 percent to $37.23. The maker of data-storage products forecast third-quarter adjusted earnings of no more than 60 cents a share, 4 cents less than the average analyst estimate.
Rambus Inc. (RMBS US) rose 8.3 percent to $7.70. The designer of high-speed memory chips erased 61 percent yesterday after a jury rejected its allegations that Micron Technology Inc. (MU US) and Hynix Semiconductor Inc. conspired to prevent its products from becoming an industry standard.
Williams-Sonoma Inc. (WSM US): The gourmet-cookware retailer forecast adjusted earnings in 2012 may be as much as $2.26 a share, beating the average analyst estimate of $2.22.
Zoll Medical Corp. (ZOLL US): The maker of defibrillators forecast revenue in 2012 will rise as much as 19 percent, compared with the average estimate of an increase of about 16 percent. The Chelmsford, Massachusetts-based company also reported a share buyback program of $50 million.