Among the companies with shares expected to actively trade in
Monday's session are BB&T Corp. (BBT), Campbell Soup Co. (CPB)
and PetMed Express Inc. (PETS).
BB&T, one of the largest lenders in the southeastern U.S.,
reported second-quarter earnings that missed analysts' estimates as
the bank's top line declined. Shares fell 4.8% to $37.05
premarket.
Campbell Soup warned that its sales growth for the upcoming
fiscal year would likely fall below its long-term targets and the
packaged food company may need to continue reshaping its portfolio
to meet its goals. Shares slipped 1% to $43.52 premarket.
PetMed Express said its fiscal first-quarter earnings rose 4.6%
on improved margins and lower operating costs that offset a decline
in revenue. Still, shares fell 6.4% to $12.65 premarket as revenue
missed analysts' expectations.
Corinthian Colleges Co. (COCO) said that it welcomed the
government-appointed monitor overseeing the for-profit educator's
wind-down, vowing full cooperation with the process. Shares added
6.3% to 22 cents premarket.
BlackBerry Ltd. (BBRY) Chief Executive John Chen is expanding
his executive team, naming Marty Beard as chief operating officer
on Monday. The Canadian smartphone maker has not had anyone in the
position since a management shakeup last November, shortly after
Mr. Chen took the helm, which resulted in the departure of former
Chief Operating Officer Kristian Tear and others. Shares rose 1% to
$10.14 premarket.
SunTrust Banks Inc. (STI) said its second-quarter profit
increased 5.8% as the Atlanta-based lender's loan portfolio grew.
Revenue and adjusted per-share earnings topped analysts' estimates.
Shares rose 1.3% to $40.25 in premarket trading.
Extreme Networks Inc. (EXTR) preleased its fourth-quarter
results, saying it expects revenue and adjusted per-share earnings
to exceed its prior outlook. The company said it was reporting
preliminary results because the release of its fourth-quarter
earnings report will be delayed because extra time is needed to
complete audit processes since the company's acquisition of
Enterasys. Extreme Networks shares jumped 14% to $4.99
premarket.
Watchlist:
Agricultural chemicals company American Vanguard Corp. (AVD)
said recent purchasing patterns reflecting a "downshift" for
corn-related products will hurt second-quarter results.
CBS Outoor Americas Inc. (CBSO) said that it had struck a deal
to buy 1,100 billboards from Van Wagner Communications LLC for $690
million in cash, as the former CBS Corp. unit looks to broaden its
reach.
Halliburton Co. (HAL) gave Chief Operating Officer Jeff Miller
the added title of president and said he would join the oil-field
services giant's board as it beefs up its executive ranks. The
company, which also reported its second-quarter profit rose 20%,
said Mr. Miller will complement the leadership of Chief Executive
Dave Lesar.
Toy maker Hasbro Inc. (HAS) reported continued sales growth
during the second quarter, buoyed in part by strong sales of My
Little Pony and Transformers toys. Still, sales fell short of
analysts' estimates amid softness in the company's games and
preschool categories.
ManpowerGroup (MAN) said its second-quarter earnings shot up 61%
as the temporary-staffing company reported increased revenue and
benefited from a favorable comparison with the year-earlier
quarter.
Six Flags Entertainment Corp. (SIX) said profit rose 39% in the
second quarter, with admissions revenue increasing as attendance
slid, suggesting fewer guests spent more money.
Valeant Pharmaceuticals International Inc. (VRX) said it has
contacted regulators in Quebec and the U.S. about what it described
as false statements made by Allergan Inc. (AGN), the latest tangle
in the company's hostile takeover bid for the Botox maker.
Meanwhile, Allergan outlined plans to cut 13% of its work force,
part of a restructuring plan intended to save $475 million next
year.
Barron's Watchlist:
Halliburton is a company people love to hate, but it has finally
put the sources of much of the disapprobation behind it, so
investors can now judge the company on its merits, according to
Barron's. Big investments in technology have enabled Halliburton,
the world's second-largest oilfield-services company to squeeze
more production from mature wells. These are boom times in oilfield
services. Halliburton leads in pressure pumping for fracking
domestically, says Mark Luschini, chief investment strategist of
Janney Montgomery Scott, which has a position in the stock. But
Halliburton shares haven't caught up to these developments, which
Barron's says is not surprising, given the company's troubled past.
At a recent $70.35, the stock trades at 13.6 times next year's
estimated earnings of $5.18 per share, well below its five-year
average price/earnings multiple of 15.5. Lee Levy, founder and
general partner of Canid Asset Management, a San Francisco value
hedge fund that owns Halliburton shares, thinks the stock can gain
20% in the next 12 months, if, as expected, revenue from mature
fields boosts margins and the shares get an above-average multiple.
Although Halliburton is up 39% already this year and recently hit a
historic high, Levy says "on a valuation basis, it's still really
attractive."
Write to Anna Prior at anna.prior@wsj.com
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