Among the companies with shares expected to actively trade in
Thursday's session are Cisco Systems Inc. (CSCO), Wal-Mart Stores
Inc. (WMT) and Kohl's Corp. (KSS).
Cisco's fiscal third-quarter profit grew 14% as the
network-equipment firm posted improved revenues from both its main
segments, led by services sales. Shares jumped 12% to $23.71
premarket, as the company beat its earnings estimates for the
quarter.
Wal-Mart's fiscal first-quarter earnings rose 1.1% as the
world's largest retailer reported slightly stronger revenue amid
continued challenges for its lower-income customers. Revenue missed
expectations, and same-store sales at namesake U.S. stores fell for
the first time in seven quarters. The company also said that the
second quarter will be "challenging." Shares fell 1.7% to $78.54
premarket.
Kohl's fiscal first-quarter earnings fell 4.5% as the
department-store operator was hurt by slightly lower sales that
offset the benefit of stronger margins. Still, earnings beat the
company's estimates and the company expects current-quarter
earnings roughly in-line with expectations. Shares rose 6.7% to
$53.00 premarket.
Tesla Motors Inc. (TSLA) said it plans to sell stock and
convertible notes to repay debt and for corporate purposes, taking
advantage of a recent rally in its stock price. Shares were up 10%
at $93.67 in premarket trading.
Goldman Sachs downgraded chip maker Advanced Micro Devices Inc.
(AMD) to sell from neutral, citing the stock's recent rally amid
enthusiasm for AMD's design wins in gaming. Goldman notes that
gaming only partly offsets secular challenges in the PC business,
which Goldman estimates is about 45% of sales. Shares fell 6.6% to
$4.09.
Berkshire Hathaway Inc. (BRKA, BRKB) said in a regulatory filing
that it purchased a stake in Chicago Bridge & Iron Co. (CBI),
sending shares of the Netherlands engineering firm up 3.5% to
$59.77 premarket.
ReneSola Ltd. (SOL) reported a slightly narrower first-quarter
loss as the solar-products maker reported stronger revenue and
lower operating expenses. The company expects revenue above
analysts' estimates for the current quarter. However, for the
first-quarter the company's loss was still wider than expected.
American depositary shares fell 6.8% to $2.06 premarket.
Chinese software firm e-Future Information Technology Inc.
(EFUT) said it has signed an agreement with SCA Holding Co. to
provide its China operation with data link services, a cloud-based
distributor relationship management application. Shares rose 17% to
$3.45 premarket.
Watchlist:
Cyclacel Pharmaceuticals Inc. (CYCC) said it is offering to sell
shares, aiming to use the proceeds to fund a clinical trial of its
leading drug candidate. The company, which didn't say how many
shares it will sell, develops oral therapies for cancer
treatment.
DDR Corp. (DDR) plans to acquire a portfolio of shopping centers
from its joint venture with Blackstone Group L.P. (BX) in a $1.46
billion deal. Under the proposed deal, the real estate investment
trust will acquire Blackstone Real Estate Partners VII's 95% equity
ownership stake in 30 of 44 shopping centers owned by the
venture.
Dillard's Inc.'s (DDS) fiscal first-quarter profit rose 23% as
the department-store operator's margins expanded, offsetting flat
revenue. Shares rose 3.3% to $92 after hours as adjusted per-share
earnings beat consensus estimates.
Jack in the Box Inc.'s (JACK) fiscal second-quarter profit fell
39% as the restaurant operator posted weaker sales, and the
year-earlier was boosted by a large gain on the sale of
restaurants.
Mario Gabelli's Gamco Investors Inc. (GBL) reiterated its
support for its nominee for Telephone & Data Systems Inc.'s
(TDS) board, continuing a proxy fight between the major shareholder
and the provider of wireless, landline and broadband services.
HollyFrontier Corp. (HFC) said there are outages at two of its
refineries, expected to last 10 days. The company disclosed
"unplanned downtime" to its fluid catalytic cracking units, which
are an important part of the refining process for crude oil, at its
refineries in Cheyenne, Wyo., and El Dorado, Kan., the company's
largest refinery.
Johnson & Johnson's (JNJ) drug Simponi received U.S. Food
and Drug Administration approval for patients with hard-to-treat
cases of ulcerative colitis. The injectable drug, from J&J's
Janssen Biotech division, is approved to induce and maintain
remission from the chronic inflammatory bowel disease, which is
marked by inflammation and ulceration of the innermost lining of
the colon.
Moody's Investors Service improved Macy's Inc.'s (M) rating
outlook to positive from stable, saying strong growth of
online-apparel sales and a strategic "omnichannel" focus will
continue boosting the department-store operator's operating
performance.
Netease Inc.'s (NTES, K3MD.SG) first-quarter earnings rose 13%
as Chinese Internet users continued to log into the company's
popular self-developed games. The company's American depositary
shares rose 2.6% after hours to $62.
Skechers USA Inc. (SKX) swung to first-quarter profit as the
footwear company posted broad double-digit sales growth. Earnings
and revenue topped expectations.
TransCanada Corp. (TRP, TRP.T) plans to sell down its stake in
two natural gas pipelines to TC PipeLines L.P. (TCP), an affiliated
company, in a roughly $904 million deal expected to free up funds
for capital investments. TC PipeLines on Wednesday said it is
selling 7.7 million units in an effort to raise funds for the
acquisition.
Write to Anna Prior at anna.prior@dowjones.com
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