Among the companies with shares expected to actively trade in
Wednesday's session are Adobe Systems Inc. (ADBE), Tetra Tech Inc.
(TTEK) and Pool Corp. (POOL).
Adobe's fiscal second-quarter earnings fell 66% on higher
expenses as the company accelerated its transition to online
subscription services and away from periodic releases of licensed
and packaged software. Per-share earnings topped the company's
expectations. Shares were up 7.9% to $46.77 premarket.
Tetra Tech expects to post a loss for the fiscal third quarter
amid higher-than-expected restructuring costs related to its
Eastern Canada and mining operations, as well as adverse findings
regarding claims mostly related to change orders on some projects
for certain U.S. federal and state government customers. Shares
sank 12% to $23.50 premarket.
Pool lowered its 2013 earnings guidance as the wholesale
distributor said cooler and unusually wet weather in its seasonal
markets in North America and Europe led to later-than-usual pool
openings and lower-than-expected sales. Shares were down 5.7% to
$51.60 premarket.
J.P. Morgan initiated coverage of Keryx Biopharmaceuticals Inc.
(KERX) with an overweight view and $13 price target, "based on the
potential of Zerenex, its first-in-class, oral drug candidate for
the treatment of hyperphosphatemia (elevated serum phosphorus) in
dialysis patients." Shares rose 6.1% to $8.13 premarket.
Vivus Inc. (VVUS) said a study showed its erectile-dysfunction
treatment Stendra enabled sexual activity within 15 minutes. Vivus
said it plans to file for an amendment to both the U.S. Food and
Drug Administration approval and the pending European Medicines
Agency application to obtain new labeling regarding the shorter
wait time. If approved, Stendra and Spedra, as it is known in the
European Union, will be the only phosphodiesterase type 5 inhibitor
to be able to make this claim, said Vivus. Shares rose 4.3% to
$14.35 premarket.
Protalix BioTherapeutics Inc. (PLX) reached a supply and
technology transfer deal with an arm of the Brazilian Ministry of
Health for the company's Uplyso enzyme replacement therapy for the
treatment of Gaucher disease. The Israel-based company's shares
were up 7.3% to $5.45 premarket.
Vitesse Semiconductor Corp. (VTSS) plans to offer $40 million of
its shares as the chip maker aims to raise funds for working
capital and other purposes, which may be used to repay or
restructure debt. The company recently had a market capitalization
of about $103.6 million. Shares fell 12% to $2.43 premarket.
Biodel Inc. (BIOD) said it plans to offer common stock, but
didn't disclose how many shares it intends to sell. The specialty
biopharmaceutical company had 14.2 million shares outstanding as of
May 10. Shares slipped 2.1% to $4.66 premarket.
THL Credit Inc. (TCRD) plans to offer 6.6 million shares as the
management investment company looks to raise funds for paying down
debt and for general corporate purposes. It had 26.3 million shares
outstanding as of May 6. Shares were off 4.7% to $14.40
premarket.
Watchlist:
Dish Network Corp. (DISH) said it wouldn't submit a revised
offer for Sprint Nextel Corp. (S) by the wireless carrier's Tuesday
deadline, saying it is "impracticable" to do so. The satellite TV
provider said it will consider its options with respect to Sprint
and will focus its efforts and resources on completing its tender
offer for Clearwire Corp. (CLWR).
Gladstone Commercial Corp. (GOOD) plans to sell 1.1 million
shares and will use proceeds to fund property acquisitions, repay
debt and for general corporate purposes. The real-estate investment
trust had 11.4 million shares outstanding as of April 26.
La-Z-Boy Inc.'s (LZB) fiscal fourth-quarter earnings fell 6.6%
as a large benefit from antidumping income had boosted the
furniture company's year-earlier results, though sales and margins
improved in the latest period.
Symmetricom Inc. (SYMM) unveiled plans to shed about 12% of its
workforce in a restructuring effort and tempered its expectations
for the current quarter.
Texas Industries Inc. (TXI) named Tom Ransdell as its new
chairman, filling a vacancy created by the death of Bob Rogers last
week.
Valeant Pharmaceuticals International Inc. (VRX, VRX.T) said it
raised about $2 billion in an offering of its common shares, which
will be used to help fund its planned $8.7 billion acquisition of
global eye-care company Bausch & Lomb Holdings Inc.
Write to Anna Prior at anna.prior@dowjones.com.
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