Devon, DirecTV, Foster Wheeler, Transocean: U.S. Equity Preview

May 7 (Bloomberg) -- The following companies may have unusual price changes in U.S. markets tomorrow. Stock symbols are in parentheses after company names, and prices are as of 8:10 a.m. in New York, unless stated otherwise.

Beazer Homes USA (BZH:US): The homebuilder under investigation by federal authorities said it received a default notice from the Bank of New York Trust Co. on debt of $103.1 million. The company received the notice after not filing annual and quarterly reports with the U.S. Securities and Exchange Commission, it said. The shares gained 4.6 percent to $12.10 yesterday.

Cephalon Inc. (CEPH:US) dropped 1.7 percent to $60. The Frazer, Pennsylvania-based company failed to win a U.S. panel's backing to expand marketing of its painkiller Fentora to include patients without cancer, because of concern that the narcotic would be misused.

Devon Energy Corp. (DVN:US) rose 4.1 percent to $125.30. The biggest independent oil and gas producer in the U.S. said first- quarter profit, excluding such items as a drop in the valuation of contracts that lock in prices, was $2.74 a share. That's 41 cents higher than the average of analysts' estimates compiled by Bloomberg.

DirecTV Group Inc. (DTV:US) gained 2.7 percent to $26.50. The largest U.S. satellite-television provider posted a 10 percent increase in first-quarter profit and said it will sell as much as $2.5 billion in debt to fund a share buyback. Sales rose 17 percent to $4.59 billion, beating the $4.48 billion average of 12 analysts' estimates compiled by Bloomberg.

Eagle Materials Inc. (EXP:US): The maker of gypsum wallboard reported fourth-quarter profit of 7 cents a share, missing analysts' estimates, as a U.S. housing recession cut demand for building materials. The shares added 0.4 percent to $36.55 yesterday.

Foster Wheeler Ltd. (FWLT:US) gained 2.8 percent to $68.27 in trading before U.S. exchanges opened. The designer of oil refineries reported first-quarter profit excluding some items that topped analysts' average per-share estimate by almost 17 percent on demand from energy companies for engineering and construction services.

ImClone Systems Inc. (IMCL:US): The maker of the cancer drug Erbitux sued Abbott Laboratories (ABT:US) claiming fraudulent activities forced ImClone into a $65 million settlement with a rival over an alleged patent violation. ImClone shares lost 1.6 percent to $45.50 yesterday. Abbott, which produces anti- inflammatory medicine Humira, declined 0.8 percent to $52.58 yesterday.

Marsh & McLennan Cos. (MMC:US): The world's biggest insurance broker reported a first-quarter loss of 40 cents a share as it wrote down the value of its Kroll security unit. The shares dropped 1.5 percent to $27.58 yesterday.

ON Semiconductor Corp. (ONNN:US) gained 8.8 percent to $8.50 in trading before U.S. exchanges opened. The maker of semiconductors said second-quarter sales may be as high as $560 million, exceeding the average analyst estimate of $392.1 million. The company's first-quarter profit also topped estimates.

Owens Corning Inc. (OC:US): The largest U.S. insulation maker posted an unexpected first-quarter loss as the U.S. housing slump hurt demand and the company incurred costs to sell two factories. The shares rose 0.7 percent to $21.16 yesterday.

Sprint Nextel Corp. (S:US) advanced 6.5 percent to $9.79 in trading before U.S. exchanges opened. The third-biggest U.S. mobile-phone company is forming a venture with Clearwire Corp. (CLWR:US) to run its planned high-speed wireless network, with funding from technology and cable companies including Intel Corp. (INTC:US) and Comcast Corp. (CMCSA:US).

Clearwire shares added 11 percent to $18.35.

Synchronoss Technologies Inc. (SNCR:US) plunged 42 percent to $13.20 in trading before U.S. exchanges opened. The maker of software for Apple Inc. said it lowered its expectations for annual growth because of declining iPhone revenue. The company's first- quarter profit, excluding some items, of 16 cents a share missed the average analyst estimate by 1 cent.

Syniverse Holdings Inc. (SVR:US) increased 12 percent to $18.70. The provider of technology services to mobile-phone companies said annual sales for the year may reach as high as $465 million, exceeding the average analyst estimate of $437.3 million from a Bloomberg survey.

Transocean Inc. (RIG:US) gained 2.9 percent to $162.50. The world's largest offshore oil driller reported first-quarter profit excluding some items that topped analysts' per-share estimates by about 15 percent as record crude prices increased exploration for new reserves.

Walt Disney Co. (DIS:US) climbed 2.4 percent to $34.43. The world's largest theme-park operator reported better-than-expected profit as the early Easter spurred resort visitors and the film ``National Treasure 2'' scored with fans. Disney's second-quarter profit of 58 cents a share topped the average analyst estimate by 14 percent, according to Bloomberg data.

To contact the reporter on this story: Michael Patterson in New York at mpatterson10@bloomberg.net.

Last Updated: May 7, 2008 08:31 EDT

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