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US Stock Futures: HOT STOCKS TO WATCH

Among the companies with shares expected to actively trade in Wednesday's session are Cavium Inc. (CAVM), Medicis Pharmaceutical Corp. (MRX) and Emcore Corp. (EMKR). Cavium cut its revenue outlook for the fourth quarter, reiterating some of the problems that hurt its top line in the prior quarter as well. The microprocessor maker's shares fell 7.3% to $26.40 premarket. Medicis Pharma raised its outlook for earnings this year by a couple of cents a share, even though the drug maker lowered its guidance for revenue because of renegotiated contracts. Shares were down 5.2% at $32 in premarket trading. Emcore's fiscal fourth-quarter loss widened as the semiconductor maker's fiber-optics segment was hurt by impacts related to flooding in Thailand during October. But shares rose 16% to $1.00 in light premarket trading. Flotek Industries Inc. (FTK) said it will repurchase senior secured convertible notes and that the redemption process will retire approximately $36 million of Flotek indebtedness. Shares of the oilfield technology company rose 4.7% to $10.65 premarket. JP Morgan lowers its price target on Molycorp Inc. (MCP) to $39 from $57 as China's higher-than-expected 2012 rare earth export quota and increased production from Molycorp and Lynas are likely to pressure rare earth prices. JP Morgan also slashes its earnings-per-share estimates for Molycorp for 2012 and 2013. Watch List: Arctic Cat Inc. (ACAT) has paid $79.3 million in cash to buy back its shares held by Suzuki Motor Corp. (7269.TO), a deal that sees the Japanese auto maker shed its ownership in the company at a steep discount to the stock's current trading levels. Moody's Investors Service placed Computer Sciences Corp.'s (CSC) investment-grade ratings under review for a possible downgrade, citing the technology-services company's disclosure that the British government denied approval of its memorandum of understanding with the U.K.'s National Health Service as well as proposed contract amendment. Two board members who helped Eastman Kodak Co. (EK) in its last attempt to round up financial support aren't sticking around for the struggling company's current effort. Herald Chen and Adam Clammer, who joined Kodak's board in 2009 as representatives of private equity firm Kohlberg Kravis Roberts, stepped down last week, according to a securities filing Tuesday. Emergent Biosolutions Inc. (EBS) said Abbott Laboratories (ABT) will terminate its co-development and co-commercialization agreement for the TRU-016 drug, as Abbott told the biopharmaceutical company it is changing its portfolio priorities. Fidelity National Financial Inc. (FNF) said it would sell most of its personal-lines insurance business to a privately held company for about $119 million to flush out a cause of earnings volatility. New York Times Co. (NYT) agreed to sell the 16 local papers that make up its regional media group to Halifax Media Holdings LLC, owner of the News-Journal newspaper in Daytona Beach, Fla. The papers are being sold for $143 million in cash and Times Co. said it intends to use the proceeds for "general corporate purposes." New York's attorney general said several electronics companies in Asia, including Sharp Corp. (SHCAY, 6753.TO) and Samsung Electronics Co. (SSNHY, 005930.SE), have agreed to a settlement of over $550 million involving allegations of price-fixing liquid crystal display screens. Viacom Inc. (VIA, VIAB) is contesting a decision by dispute-resolution accountants that it owes former shareholders of Harmonix Music Systems Inc. $383 million in their ongoing litigation over the media behemoth's 2006 takeover of the maker of the "Rock Band" video game. -Edited by Corrie Driebusch and Ian Thomson; write to corrie.driebusch@dowjones.com and ian.thomson@dowjones.com

Stock News for Cavium Networks (CAVM)
DateTimeHeadline
12/28/201109:07:25US Stock Futures: HOT STOCKS TO WATCH
09/23/201116:39:46TECH STOCKS: H-P Kicks Off Whitman Era With Share Drop
01/12/201104:47:20DEALWATCH: Connecting The Chips

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