Among the companies with shares expected to actively trade in
Wednesday's session are Adobe Systems Inc. (ADBE), Erickson
Air-Crane Inc. (EAC) and Williams-Sonoma Inc. (WSM).
Adobe's fiscal first-quarter earnings fell 65% on higher
expenses due in part because subscriptions for its digital creative
and marketing services grew ahead of expectations. Shares were up
6.3% to $43.30 after hours.
Erickson Air-Crane agreed to buy air transport services provider
Evergreen Helicopters Inc. for $250 million from Evergreen
International Aviation Inc. as the helicopter-maker aims to expand
its global reach. Shares climbed 15% to $16.23 after hours.
Williams-Sonoma's fiscal fourth-quarter earnings rose 9.1% as
the housewares and furniture company announced that President
Richard Harvey of its namesake brand will leave the company in
early May. The company's board also authorized a 41% increase in
Williams-Sonoma's quarterly dividend to 31 cents a share and
approved a $750 million stock repurchase program. Shares rose 5.9%
to $47.89 after hours.
Cintas Corp.'s (CTAS) fiscal third-quarter earnings fell 1.7% as
the supplier of uniforms and restroom supplies said that a slightly
shorter quarter and new costs masked an increase in revenue. Cintas
revised its full-year outlook, lowering the top end of its
per-share earnings outlook by four cents. Shares were down 2.6% to
$44.75 after hours.
Francesca's Holdings Corp.'s (FRAN) fiscal fourth-quarter
earnings rose 78% as the retailer kept up its double-digit sales
growth, aided by new store openings and improvements in its jewelry
and clothing categories. Shares jumped 4.3% after hours to $28.15
as the company beat its quarterly guidance, which it raised in
January.
Maxwell Technologies Inc.'s (MXWL) accounting firm has quit,
saying it can no longer trust the company's management. Maxwell,
which develops power-based systems and components, also said that
it doesn't expect to file its annual report for 2012 by the
required deadline, as it continues to restate its financial
results. Shares dropped 5.9% after hours to $7.
Memorial Production Partners LP (MEMP) is offering 8.5 million
units representing limited partner interests as the company looks
to raise funds to help pay for its $200 million acquisition of oil
and gas-producing properties in East Texas and North Louisiana. The
limited partnership had 28.9 million common units outstanding as of
Feb. 28. Units were down 3.8% at $18.33 after hours.
New Mountain Finance Corp. (NMFC) said it is offering 2 million
shares and also unveiled a secondary offering of 4 million shares
on behalf of stockholder, New Mountain Finance AIV Holdings Corp.
The management-investment company will use proceeds towards the
ultimate objective of investing in portfolio companies and for
other general corporate purposes, including to temporarily repay
debt. It will not receive proceeds from the sale of shares being
offered by AIV Holdings. New Mountain currently has 24.4 million
shares outstanding. Shares were off 3.4% at $14.14 after hours.
RLJ Lodging Trust (RLJ) is offering 11.5 million shares, and the
real-estate investment trust said it will use proceeds to fund
potential acquisitions and for general corporate purposes. It had
106.5 million shares outstanding as of Feb. 20. Shares slipped 2.8%
to $21.52 after hours.
Watchlist:
AAR Corp.'s (AIR) fiscal third-quarter profit fell 11% as
overall sales declined and the aviation products and services
supplier posted higher income tax expenses. The company again
raised its per-share earnings projection for the year.
Anadarko Petroleum Corp. (APC) and four partner companies
announced a major discovery in the deepwater Gulf of Mexico Tuesday
that they heralded as one of the largest in the Gulf. Anadarko is
the operator of the Shenandoah-2 well and has a 30% stake.
ConocoPhillips (COP)also has a 30% interest in the well, Cobalt
International Energy LP (CIE) has a 20% stake, Marathon Oil Co.
(MRO) has a 10% stake, and Venari Resources LLC has 10%.
BioMarin Pharmaceutical Inc. (BMRN) said results from an
early-stage trial for a treatment of late-onset Pompe disease
exceeded requirements for proceeding to the next phase of
development.
Cardiovascular Systems Inc. (CSII) disclosed plans to offer
common stock, but the medical device company didn't say how many
shares it planned to sell. It had 21.1 million shares outstanding
as of Feb. 7.
Con-way Inc. (CNW) said reserves and certain charges are
expected to hurt its first-quarter operating income, while tonnage
trends are below last year's level.
Freddie Mac (FMCC) sued more than a dozen major global banks,
alleging they caused the government-backed mortgage investor
"substantial losses" by suppressing the Libor interest-rate
benchmark between 2007 and 2010.
MetroPCS Communications Inc. (PCS) and Deutsche Telekom AG's
(DTEGY, DTE.XE) T-Mobile USA said Deutsche Telekom finance chief
Timotheus Hottges would be chairman of the board of the combined
company, upon completion of the proposed merger.
Parkway Properties Inc. (PKY) has boosted the size of its
offering to 11 million shares, which priced at a 1% discount to
Tuesday's close.
Patterson Cos.'s (PDCO) board authorized the repurchase of as
many as 25 million of the medical-supply company's shares and also
approved a 14% increase in its quarterly dividend.
Fitch Ratings has lifted Public Storage's (PSA) rating a notch,
noting the real-estate investment trust's minimal debt.
Suntech Power Holdings Co. (STP, K3ND.SG) has named two
directors to its board, a move that comes after the Chinese solar
company earlier this month removed its chairman and recently said
it was exploring strategic options.
True Religion Apparel Inc. (TRLG) said its Chief Executive Jeff
Lubell is stepping down, and President Lynne Koplin will lead the
jeans maker on an interim basis. The company said its review of
strategic alternatives remains ongoing.
-Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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