Among the companies with shares expected to actively trade in
Thursday's session are Clearwire Corp. (CLWR), NV Energy Inc. (NVE)
and Big Lots Inc. (BIG).
Dish Network Corp. (DISH) has increased its bid for
mobile-broadband operator Clearwire, topping the offer Sprint
Nextel Corp. (S) raised last week. Late Wednesday, Dish offered to
acquire Clearwire for $4.40 a share in cash, a 29% premium over
Sprint's offer of $3.40 a share. Clearwire shares jumped 19% to
$4.14 premarket.
Berkshire Hathaway Inc.'s (BRKA, BRKB) power-and-gas company
plans to buy Nevada utility NV Energy for about $5.6 billion in
cash, a sign that Warren Buffett's corporate empire is betting on
the recovery of a state hard-hit by the recent recession.
MidAmerican Energy Holdings Co. has agreed to acquire NV Energy for
$23.75 a share, a premium of about 23% to the Nevada utility's
Wednesday closing price. NV Energy shares climbed to $23.73
premarket.
Big Lots' fiscal first-quarter earnings fell 21% as litigation
charges and weaker same-store sales more than offset the closeout
retailer's slightly improved sales. The company also lowered its
full-year adjusted earnings estimate and provided below-consensus
earnings guidance for the current quarter. Shares fell 7.5% to
$35.51 premarket.
Express Inc.'s (EXPR) fiscal first-quarter earnings fell 23% as
the youth-focused clothing retailer posted flat same-store sales
growth and higher expenses. Still, the company raised its outlook
for the year and offered a current-quarter forecast above analysts'
estimates. Shares rose 9.7% to $20.60 premarket.
Hanwha SolarOne Co. (HSOL) narrowed its fiscal first-quarter
loss as the Chinese solar-products maker logged strong revenue
growth amid higher shipments, and also reported positive gross
profit. The company also said prices improved from the fourth
quarter and appear to have stabilized. American depositary shares
jumped 13% to $2.14 premarket. Fellow solar stocks also rose,
including Real Goods Solar Inc. (RSOL) adding 6% to $3.19.
Yingli Green Energy Holding Co. (YGE) sharply widened its fiscal
first-quarter loss as the Chinese solar-products maker reported
lower revenue and narrower margins, while also naming a new
financial head. The company reported higher-than-expected shipment
volumes during the quarter, primarily supported by the strong
European and the U.S. markets and the growth of demand in new
markets such as Japan. American depositary shares rose 4.9% to
$3.43 premarket.
Frontline Ltd. (FRO, FRO.LN) swung to a first-quarter loss as
the oil-tanker company reported a double-digit percentage fall in
revenue, while offering a grim outlook on the current quarter.
Shares tumbled 5.1% to $2.04 in premarket trading as revenue missed
Street views.
Avago Technologies Ltd.'s (AVGO) fiscal second-quarter earnings
fell 16% as the chip maker continued to be hurt by tepid demand.
However, shares rose 4.6% premarket to $36.00 as results beat
analysts' expectations, helped by improved resales in the
industrial business.
Boardwalk Pipeline Partners L.P. (BWP) said it plans to offer 11
million common units representing limited partner interests. It had
207.7 million common units outstanding as of April 29. Units were
off 5.1% to $29.70 premarket.
Vanguard Natural Resources LLC (VNR) has commenced an offering
of seven million units representing limited liability company
interests. The oil-and-gas exploration company had 68.4 million
units outstanding as of April 30. Units slipped 4.9% to $28.20
premarket.
Boston Private Financial Holdings Inc. (BPFH) said B.P. Holdco
L.P., an affiliate of its largest shareholder Carlyle Group L.P.
(CG), has agreed to sell 3.9 million shares. Boston Private had
79.1 million shares outstanding as of May 3. Shares fell 3.6% to
$9.85 premarket.
Watchlist:
AFC Enterprises Inc.'s (AFCE) fiscal first-quarter earnings
jumped 16% as the restaurant operator's same-store sales continued
to strengthen.
Moody's Investors Service downgraded aluminum giant Alcoa Inc.
(AA) into junk territory, saying weakness in its industry will
continue to challenge the company's ability to trim its debt
levels.
Fitch Ratings upgraded Calpine Corp. (CPN) by a notch, saying
the wholesale power company's cleaner fuel profile and its
geographic diversity help its position in the sector.
Edwards Lifesciences Corp. (EW) said a U.S. Food and Drug
Administration inspection has identified a series of problems at
the medical-device maker's Utah facility.
U.S. regulators have approved two new GlaxoSmithKline PLC (GSK,
GSK.LN) treatments for an aggressive form of skin cancer.
O'Reilly Automotive Inc.'s (ORLY) board has authorized an extra
$500 million in share buybacks.
PMC-Sierra Inc. (PMCS) has agreed to buy Integrated Device
Technology Inc.'s (IDTI) enterprise flash controller business for
$100 million, a move the chip maker said accelerates its entrance
in the rapidly growing enterprise solid-state drive market.
Priceline.com Inc. (PCLN) plans to offer up to $1 billion of
debt and said its board also has approved the repurchase of up to
an additional $1 billion of stock, to return value to
shareholders.
Royal Caribbean Cruises Ltd. (RCL) estimated the financial
impact of fire on its Grandeur of the Seas vessel, saying that net
of insurance it will hurt results by 10 cents a share.
Tilly's Inc.'s (TLYS) first-quarter earnings fell 61% as higher
costs and expenses offset stronger sales at the West Coast-inspired
clothing retailer, which also was hurt by larger income-tax
expenses. The company also said Chief Financial Officer Bill
Langsdorf intends to retire later this year.
Write to Anna Prior at anna.prior@dowjones.com
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