Newell Rubbermaid Inc. (NWL) cut its full-year forecast, citing disappointing economic conditions and weak consumer spending trends in the U.S. market. Shares were trading down 6% at $15.95 premarket.
Quiksilver Inc. (ZQK) swung to a fiscal second-quarter loss, weighed down by asset-impairment charges and a bigger income-tax provision, though the outdoor sports outfitter posted higher revenue for the first time in three years. Shares jumped 13% to $4.95 premarket as the results topped the retailer's own outlook.
Orexigen Therapeutics Inc. (OREX) said it plans to suspend clinical development of its U.S. obesity programs as it disputes a decision by the U.S. Food and Drug Administration regarding its Contrave weight loss pill. Shares plunged 36% to $2.04 in recent premarket trading.
Cascade Corp.'s (CASC) fiscal first-quarter profit almost tripled as shipments to its main Americas market surged amid improving economic conditions. Shares were climbed 16% to $45 premarket as results easily topped Wall Street expectations.
Goldman Sachs initiated coverage of Universal Display Corp. (PANL) with stock-investment rating of buy. Universal Display's portfolio of patents and critical position in fast-growing organic LED display market will enable compound annual revenue growth near 60% from 2010 to 2015, firm says. Although OLED technology has been in development for many years, the commercial market is still in its early stages, Goldman says. Smartphone market growth alone should fuel near 65% OLED growth per annum through 2013, firm says, and it expects OLEDs to challenge LCD use in tablets, notebooks and flat-panel TVs. Shares of Universal Display traded up 2.5% to $41.69 premarket.
After losing nearly half its value the past six months, Goldman Sachs upgrades DryShips Inc. (DRYS) to buy "as we see a positive risk/reward ahead of the upcoming listing" of its Ocean Rig unit in the US this summer. Goldman calls DryShips' valuation "attractive," says the drillship business is "likely underestimated" and that DRYS has sufficient liquidity. Meanwhile, Goldman downgrades Diana Shipping Inc. (DSX) to neutral "as we reduce our bulker rate forecasts while the stock has outperformed bulker peers." DryShips, down 30% this year, rises 8.6% premarket to $4.16 while Diana Shipping slides 1% to $11.24.
Arch Coal Inc. (ACI) said its boosted equity sale priced at $27 a share, a 1.6% discount to its Thursday close of $27.43, as it seeks to fund its $2.98 billion acquisition of International Coal Group Inc. (ICO). Shares were down 2.2% to $26.81 in recent premarket trading.
Tesla Motors Inc. (TSLA) said its offering of at least 5.3 million shares priced at Thursday's closing price of $28.76. Shares climbed 6.4% to $30.60 in recent premarket trading.
GT Solar International Inc. (SOLR) said it received a $460.4 million order for its advanced sapphire crystallization furnaces. The order is GT's largest single order to date. Shares of the solar-equipment manufacturer rose 9.8% to $13.20 premarket.
Watch List:
Fitch Ratings upgraded Atmos Energy Corp. (ATO) a notch on its expectation for further financial strength driven by organic growth in its natural-gas distribution segment.
AvalonBay Communities Inc. (AVB) raised its profitability projections for the current quarter and the full year Thursday because portfolio trends are better than it expected.
Basic Energy Services Inc. (BAS) signed a letter of intent to buy the Maverick companies, a group of oil-and-gas services firms focused in the Rocky Mountain region, for $180 million.
Boston Properties Inc. (BXP) plans to sell up to $600 million in common stock through an at-the-market offering over three years as the real estate investment trust looks to raise cash for a host of purposes.
Convergys Corp. (CVG) said it planned to sell its holding in Cincinnati area cellular assets to partner AT&T Inc. (T) for $320 million in cash.
Cooper Cos.' (COO) fiscal second-quarter results beat expectations, while the health-care products company's bottom line surged more than sevenfold from a prior-year period weighed by heavy charges. The company--maker of contact lenses, diagnostic products and surgical instruments--also boosted its full-year outlook again.
CVR Energy Inc.'s (CVI) David Tepper's Appaloosa Management LP and affiliated funds reported beneficially holding an 8.26% passive stake in the refiner, according to a filing with the Securities and Exchange Commission.
Diamond Foods Inc. (DMND) swung to a fiscal third-quarter profit following heavier takeover costs in the year-earlier period. The adjusted bottom line beat the packaged-food company's projections thanks to better sales and margins. But the company gave a disappointing profit outlook for the current quarter.
Rockwell Automation Inc. (ROK) boosted its quarterly dividend 21%, joining a long list of companies that have increased payouts to shareholders in recent months using stockpiled cash.
SAIC Inc.'s (SAI) fiscal first-quarter earnings rose a better-than-expected 4.8% despite a top line that didn't quite reach analysts' estimate, as the defense contractor's operating costs declined again.
Smithfield Foods Inc. (SFD) said it has ended discussions toward a possible acquisition of Campofrio Food Group SA (CFG.MC) amid continued economic woes in Europe and a recent decline in the suitor's share price.
Tutor Perini Corp. (TPC) has agreed to buy out a contractor for heavy civil construction for about $153.5 million, largely in cash, expanding its operations into the Midwest.
VeriFone Systems Inc.'s (PAY) fiscal second-quarter profit rose 25% as strong revenue in its services business lifted the bottom line. The maker of electronic-payment systems boosted its full-year outlook for the third time.
Walgreen Co.'s (WAG) May same-store sales rose 5.6%, beating analysts' estimates, as the drugstore chain saw growth in both front-of-the-store and pharmacy sales.
Watson Pharmaceuticals Inc. (WPI) said Pfizer Inc. (PFE) is suing Watson to prevent the generic drug maker from selling a knock-off version of Viagra.
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