Among the companies with shares expected to actively trade in
Wednesday's session are American Eagle Outfitters Inc. (AEO),
AeroVironment Inc. (AVAV) and Big Lots Inc. (BIG).
American Eagle Outfitters Inc.'s (AEO) fiscal fourth-quarter
earnings came in line with expectations, yet the teen retailer also
gave a decidedly downbeat profit forecast for this quarter. The
company blamed "macroeconomic headwinds and unfavorable weather
affecting consumer spending in February," for the shortfall. Shares
fell 8.6% to $20.61 in premarket trade.
AeroVironment Inc.'s (AVAV) fiscal third-quarter profit fell 33%
as the technology company suffered weaker sales in both its
businesses. AeroVironment's latest results missed analysts'
expectations and the company also sharply cut its 2013 outlook,
which Chief Executive Tim Conver attributed to delays in government
procurement activities. Shares tumbled 29% to $15.60 premarket.
Big Lots Inc.'s (BIG) fiscal fourth-quarter earnings rose 4.9%
as the closeout retailer's Canadian operations swung to a profit
and total sales improved. Shares rose 4.8% to $35.50 in premarket
trading.
Apollo Commercial Real Estate Finance Inc. (ARI) has commenced
an offering of eight million shares as the commertcial-mortgage
real-estate-investment trust looks to raise funds to acquire target
assets and for general corporate purposes. The REIT had 28 million
shares outstanding as of Feb. 28. Shares fell 2.6% to $17.14
premarket.
Realty Income Corp. (O) said its upsized offering of 15 million
shares priced at a 1.5% discount to its Tuesday closing price.
Realty, which plans to use proceeds from the offering to repay
debt, had 178.9 million shares outstanding as of Feb. 1. Shares
slipped 2.3% to $45.56 premarket, below the offering price of
$45.90 a share.
Watchlist:
Dresser-Rand Group Inc. (DRC) said Chief Financial Officer Mark
Baldwin plans to retire on or before April 30 and the equipment
maker plans to name a successor in the near-term.
Homeowners Choice Inc.'s (HCI) fourth-quarter income rose 65% as
the insurance holding company benefited from policy growth, thanks
to acquisitions. Per-share earnings significantly topped analysts'
expectations.
The U.S. Department of Health and Human Services has subpoenaed
four hospitals owned by HealthSouth Corp. (HLS) over allegedly
fraudulent Medicare and Medicaid claims, the company said in a
regulatory filing.
Jamba Inc.'s (JMBA) fiscal fourth-quarter loss narrowed as the
smoothie company's expenses declined, though revenue was roughly
flat. Results missed Street expectations.
Activist investor Steven Roth's Vornado Realty Trust (VNO)
confirmed in a regulatory filing it sold 10 million J.C. Penney Co.
(JCP) shares to Deutsche Bank AG (DB), a move that comes as the
firm looks to cut its losses on a failing turnaround at the
department store chain that it helped spark.
MGIC Investment Corp. (MTG) is offering 135 million shares of
its common stock and $350 million aggregate principal of senior
notes due 2020. The private mortgage insurer intends to use
proceeds from both offerings for general corporate purposes, which
may include increasing the capital of its insurance subsidiary
Mortgage Guaranty Insurance Corp. The company had 202.3 million
shares outstanding as of Feb. 15.
Nordion Inc.'s (NDZ, NDN.T) fiscal first-quarter loss narrowed
as the medical-technology company benefited from an increase in
income taxes recovered.
Pall Corp.'s (PLL) said its President and Chief Executive, Larry
Kingsley, will step in as chief financial officer in the interim,
while the manufacturer of filtration and purification products
searches externally for a replacement for Lisa McDermott.
SI Financial Group Inc. (SIFI) has agreed to acquire Newport
Bancorp for around $61.3 million in a cash-and-stock deal expected
to expand the regional bank's presence in the U.S. Northeast. The
offer price of $17.55 a share values Newport at a roughly 11%
premium to its Tuesday close.
Smith & Wesson Holding Corp.'s (SWHC) fiscal third-quarter
profit more than tripled as the gun maker recorded a surge in
sales.
Suntech Power Holdings Co. Ltd. (STP, K3ND.SG) founder and
former chief executive Zhengrong Shi said Tuesday he would fight a
decision by the company's board to replace him as chairman of the
company.
VeriFone Systems Inc. (PAY) swung to a fiscal first-quarter
profit as the maker of card-payment systems managed to post
stronger margins and services revenue, though product sales
slumped. The company also cut its guidance for the full year.
Western Refining Inc. (WNR) said its board has authorized the
crude oil refiner and marketer's management to explore the
formation and initial public offering of a traditional master
limited partnership.
Zoltek Cos. (ZOLT) has turned down a request for a special
shareholders meeting from its largest unaffiliated stakeholder,
which is seeking to remove the current members of the manufacturer
of carbon fibers' board.
Write to Mia Lamar at mia.lamar@dowjones.com
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