Among the companies with shares expected to actively trade in
Wednesday's session are Research In Motion Ltd. (RIMM, RIM.T),
Monsanto Co. (MON) and Pep Boys-Manny Moe & Jack (PBY).
RIM said it had hired investment bankers J.P. Morgan Securities
and RBC Capital Markets to assist the company in reviewing business
and financial performance, and it warned of a first-quarter
operating loss. Shares slumped 9.2% to $10.20 premarket.
Monsanto again raised its earnings outlook for the fiscal year
and forecast fiscal third-quarter profit that exceeded expectations
as the company reported strong seed-selling seasons in North and
South America. Shares were up 2.8% at $76.87 in premarket
trading.
Pep Boys-Manny Moe & Jack said it has terminated its
agreement to be taken private by Gores Group and will receive a $50
million termination fee, a move that comes after the private-equity
firm hinted earlier this month it could be souring on the deal to
buy the auto-shop chain. Shares slipped 20% to $8.89 premarket.
Perfect World Co.'s (PWRD) first-quarter earnings fell 21% as
the Chinese online-game developer reported flat revenue and higher
expenses. Shares sank 13% to $10 premarket as the company issued a
downbeat revenue view for the current quarter.
DryShips Inc. (DRYS) swung to a worse-than-expected
first-quarter loss as higher drill-rig and vessel expenses masked
improved revenue. Shares were off 5.2% to $2.17 premarket.
FormFactor Inc. (FORM) raised its second-quarter revenue
expectations Tuesday, pointing to customer demand across its
dynamic random access memory and flash memory segments. Shares
jumped 9% to $6.28 premarket.
Stem-cell company Osiris Therapeutics Inc. (OSIR) said its
Grafix treatments received transitional pass-through status from
the Center for Medicare & Medicaid Services and pass-through
status under Medicare's outpatient prospective payment system.
Shares jumped 16% to $7.53 premarket, as the new codes will
facilitating reimbursement of its Grafix products--cellular
matrixes used on chronic wounds such as diabetic foot ulcers and
burns--when they are used to treat Medicare patients in hospital
outpatient departments and ambulatory surgical centers.
SLM Corp. (SLM) has added $400 million to its share repurchase
program, the student lender's latest move to boost shareholder
return. Shares were up 0.9% to $13.80 premarket.
Synergetics USA Inc. (SURG) unveiled preliminary third-quarter
results that missed analyst expectations, as the medical device
company said economic difficulties in Europe and the delay of
orders to its two marketing partners hurt its results. Shares fell
8.8% to $5 premarket.
UDR Inc. (UDR) said it plans to sell 19 million of its shares,
looking to use the proceeds to redeem preferred stock and repay
debt. Shares slipped 4% to $25.55 premarket.
Watchlist:
Atmos Energy Corp. (ATO) said Bret J. Eckert will become its new
chief financial officer, replacing Fred E. Meisenheimer, who is
retiring.
Biofuel Energy Corp. (BIOF) unveiled plans for a one-for-20
reverse stock split as the ethanol production company looks to
boost its stock price and to regain compliance for continued
listing on the Nasdaq.
Bob Evans Farms Inc. (BOBE) said it plans to close two
food-production plants in the second quarter of fiscal 2014,
allowing the restaurant-chain operator to save about $7 million to
$8 million annually before taxes.
Copart Inc.'s (CPRT) fiscal third-quarter earnings rose 11% as
the car auctioneer recorded improved service revenue and
margins.
Daktronics Inc.'s (DAKT) swung to an unexpected fiscal
fourth-quarter loss as the maker of large-screen electronic
displays reported that changes in customer schedules and cost
overruns hurt results.
Eastman Chemical Co. (EMN) is offering $2.4 billion in various
notes as the chemical and materials maker looks to raise funds to
help pay for its pending acquisition of Solutia Inc. (SOA).
Standard & Poor's lowered its ratings on Ferrellgas Partners
LP (FGP) one notch further into speculative territory, noting the
company faces weak retail propane demand due to mild winter weather
as well as rising propane prices.
Moody's Investors Service raised its outlook on Magellan
Midstream Partners L.P. (MMP) to positive from stable, citing the
petroleum pipeline and storage company's strong earnings and
conservative management and financial policies.
Motricity Inc. (MOTR) named Nathan Fong as its new chief
financial officer, effective June 12, a move that comes as the
mobile Internet services company looks to transform its
business.
Orbitz Worldwide Inc. (OWW) Chief Financial Officer Russell
Hammer resigned last week to take up that position at Brown Shoe
Co. (BWS), returning the executive to the footwear industry.
Sturm Ruger & Co. (RGR) said it has resumed accepting orders
on a normal basis from independent wholesale distributors.
THQ Inc. (THQI) named industry veteran Jason Rubin as its new
president, a move that came as the maker of videogames and
accessories continues its restructuring efforts.
-Edited By Corrie Driebusch and Nathalie Tadena, Dow Jones Newswires; 212-416-2143;
corrie.driebusch@dowjones.com