Among the companies whose shares are expected to actively trade
in Tuesday's session are Tiffany & Co. (TIF), Alcoa Inc. (AA)
and Focus Media Holding Ltd. (FMCN).
Tiffany cut its full-year earnings forecast following a holiday
season dampened by conservative holiday spending in the U.S. and
Europe, adding to worries that economic uncertainties in the
regions have dashed demand from luxury shoppers. Shares were off
7.5% to $61.90 in premarket trade as the cut reverses a boosted
forecast offered by the luxury retailer less than two months
ago.
Alcoa swung to a fourth-quarter loss as the aluminum producer's
prices slumped and costs jumped. In the latest period, Alcoa's
average realized price for aluminum fell 5.5% from a year earlier
and 12% sequentially. Its margin of goods' costs to total sales
slipped seven percentage points to 12.7%. The pressure outweighed a
5.1% increase in shipments of aluminum products. Shares were up
2.5% to $9.66 premarket.
Focus Media said it will begin paying its shareholders a
quarterly dividend, a plan that the besieged Chinese
digital-advertising company said reflects confidence in its
business. American depositary shares leapt 6.9% to $20 in premarket
trade as investors cheered a new dividend policy that aims to
distribute shareholders payments equal to roughly 25% of the
company's annual adjusted profit in the preceding fiscal year.
Nexen Inc. (NXY, NXY.T) said President and Chief Executive
Marvin Romanow has left the company, prompting the Canadian
oil-and-gas producer to name its chief financial officer as a
temporary replacement. Shares climbed 6.3% to $17.75 in premarket
trading.
Juniper Networks Inc. (JNPR) lowered its guidance for the fourth
quarter because of weaker-than-expected router demand from service
providers. Shares in the maker of routers and switches for
communications networks were down 1.2% at $21.30 premarket.
Yoga-wear maker Lululemon Athletica Inc. (LULU) said Tuesday it
has bumped up guidance for the current fourth quarter after revenue
for the period got a boost from an increase in inventory. Shares
were up 11% to $59.48 premarket.
Cirrus Logic Inc. (CRUS) projected better-than-expected revenue
for its fiscal third quarter as the company also forecast
current-quarter revenue sharply above Wall Street expectations.
Shares were up 9.7% at $18.61 in premarket trading.
Emulex Corp. (ELX) raised its fiscal second-quarter guidance as
the company said it overcame mid-quarter supply constraints related
to flooding in Thailand, and returned to full capacity. The
networking and storage company's shares were up 10% at $8.13 in
premarket trading.
French pharmaceutical company Sanofi SA (SNY, SAN.FR) and
venture-capital companies Third Rock Ventures and Greylock Partners
will together invest up to $125 million in biotech start-up Warp
Drive Bio over the next five years. Shares were up 1.3% to $36.24
in light premarket trading.
Health Management Associates Inc. (HMA) raised its
fourth-quarter outlook, citing cost controls and effective hospital
partnerships that boosted its bottom line. Shares were up 0.7% to
$7.01 premarket.
WD-40 Co.'s (WDFC) fiscal first-quarter earnings dropped 25% as
high input costs and an unfavorable mix of products continued to
weigh on the maintenance and cleaning-products company's margins.
Shares were down 6.8% to $38.30 premarket.
Jones Group Inc. (JNY) cut its fiscal 2011 revenue guidance and
expects fiscal first-quarter revenue to fall short of analysts'
estimate due to its need to increase promotions. The owner of
brands such as Nine West, Jones New York and RachelRoy also cut its
full-year revenue projection. Shares were down 4.3% to $8.70 in
premarket trading.
Standard Microsystems Corp 's (SMSC) fiscal third-quarter loss
narrowed amid fewer charges. The result was worse than expected and
the company gave a weak view for the current quarter. Shares were
down 5.3% to $23.65 premarket.
Watch List:
Consol Energy Inc. (CNX) approved a $1.7 billion capital budget
for this year, raising the coal producer's budget 21% from last
year and putting more money into increasing coal and gas
production.
DSW Inc. (DSW) raised its full-year guidance for the fourth time
and plans to accelerate its new-store-opening plans due to the
strength of its holiday sales. The seller of branded footwear and
accessories also plans to open 35 to 40 new stores in 2012, which
is ahead of its long-term goal of 15 to 20 new stores a year.
Francesca's Holdings Corp. (FRAN) raised its fourth-quarter
guidance, saying the women's apparel and accessories retailer saw
strong holiday sales and improved margins.
Genesco Inc. (GCO) again raised its guidance for the year by a
dime a share, saying same-store sales increased by a
stronger-than-expected 13% so far in the quarter ending this
month.
GSI Technology Inc. (GSIT) estimated its fiscal third-quarter
revenue will exceed its forecast and said it sees sales to its
largest customer, Cisco Systems Inc. (CSCO), increasing from the
preceding quarter.
Hhgregg Inc. (HGG) cut its full-year earnings estimate, citing
lower-than-expected margins in the video category and increased
spending on advertising to gain market share and launch its mobile
category.
Nike Inc. (NKE) said it would build a new headquarters in China
to support its long-term growth strategies there.
OCZ Technology Group's (OCZ) fiscal third-quarter loss narrowed
sharply as swelling demand for the company's solid-state data
storage nearly doubled its top line. The company also lifted its
full-year revenue forecast for the fourth time.
RTI International Metals Inc. (RTI) agreed to acquire Remmele
Engineering Inc. for $182.5 million, allowing the titanium products
supplier to build up its offerings to the aerospace and defense
markets and expand into the medical device sector.
-Edited by Maya Pope-Chappell and Ian Thomson; write to
maya.pope-chappell@dowjones.com and ian.thomson@dowjones.com