Among the companies with shares expected to actively trade in
Friday's session are Frontline Ltd. (FRO), VeriFone Systems Inc.
(PAY) and Talbots Inc. (TLB).
Frontline Ltd.'s (FRO) first-quarter earnings fell 53% on a
double-digit drop in revenue as the company said demand in the
tanker market continues to lag supply. But the results topped
estimates, and the company, which recently undertook a
restructuring effort, said it expects its second-quarter results to
be better than the first. Shares were up 8% in premarket trading to
$5.38.
VeriFone's fiscal second-quarter earnings fell 43% as
restructuring and acquisition-related costs continued to overshadow
stronger revenue and better-than-expected core profit. Shares sank
8% to $41.38 premarket as guidance estimates were mostly below Wall
Street expectations.
Talbots said its exclusivity agreement with Sycamore Partners
has expired without the companies agreeing to a takeover deal at
this time. The struggling women's apparel retailer and the private
equity firm entered the agreement earlier this month after Sycamore
Partners made a sweetened offer that valued Talbots at about $215
million. Shares slid 22% to $2 in premarket trading.
Dell Inc. (DELL) is in talks to buy Quest Software Inc. (QSFT),
Bloomberg reported, citing people with knowledge of the matter.
Bloomberg said Dell is among several companies that made offers for
Quest Software after it agreed in March to be bought by private
equity and venture capital firm Insight Venture Partners for about
$2 billion. Shares of Quest Software jumped 3.5% to $26.05
premarket.
SemTech Corp.'s (SMTC) first-quarter earnings slid 90% as
expenses and a purchase accounting adjustment related to the chip
maker's acquisition of Gennum Corp. weighed on margins and
bottom-line results. But Williams Financial upgraded its
stock-investment rating on SemTech to buy from hold saying while
the results were below consensus, the quarter was "fairly strong."
Shares rose 3.8% to $24.60 premarket.
Delcath Systems Inc. (DCTH) said it plans to sell shares of its
common stock and warrants to purchase shares to raise funds to
develop and commercialize the specialty pharmaceutical and medical
device developer's products, as well as for working capital. Shares
slumped 24% to $1.80 premarket.
New York Mortgage Trust Inc. (NYMT) plans to sell 4 million
shares to raise funds to acquire assets, including commercial and
residential mortgage backed securities, and for other purposes.
Shares fell 5.5% to $6.55 premarket.
Rosetta Genomics Ltd. (ROSG) agreed to sell 570,755 shares to
investors at a 29% discount to its Thursday closing price. The
molecular diagnostics firm's shares fell 7% to $15.15 premarket,
above the $11.50 offering price.
Watchlist:
America's Car-Mart Inc.'s (CRMT) fiscal fourth-quarter profit
jumped 15% as the used-car seller recorded stronger volume and
selling prices. Earnings topped analyst expectations.
AOL. Inc. (AOL) urged shareholders to vote for its slate of
board nominees, saying activist investor Starboard Value LP's
nominees lack a long-term strategy or relevant industry
experience.
Bazaarvoice Inc. (BV) agreed to acquire privately held rival
PowerReviews Inc. in a cash and stock deal valued at $151.9
million, including options, that will expand the branding and
marketing information company's client base among small-to-medium
sized retailers. The company also reported preliminary
fourth-quarter revenue that topped analyst expectations.
Bunge Ltd.'s (BG) board approved a 8% increase in the
grain-processing company's quarterly dividend, the latest in a
series of companies to make shareholder-friendly moves.
Exchange operator CME Group Inc. (CME) declared a five-for-one
stock split, as the company said it hoped a lower share price would
appeal to "a broader, more diverse mix of investor portfolios."
Delphi Automotive PLC (DLPH) made a binding offer to acquire FCI
Group's motorized vehicles division in a deal valued at EUR765
million, or $972 million, that will strengthen the parts maker's
connector product portfolio. The deal is expected to be accretive
to the company's 2013 earnings.
Dish Network Corp.'s (DISH) standoff with broadcasters over its
new ad-skipping technology turned into a legal battle Thursday as
the parties filed lawsuits against each other.
Standard & Poor's Ratings Services upgraded El Paso Pipeline
Partners L.P. (EPB) into investment grade territory, citing the
company's growing size and asset diversity.
Mentor Graphics Corp. (MENT) swung to a fiscal first-quarter
profit as the chip-design software company saw its margins improve
on broadly higher demand.
Rue21 Inc.'s (RUE) fiscal first-quarter earnings rose 21% as the
value-oriented teen-apparel retailer continued to record strong
sales growth.
Sealed Air Corp. (SEE) appointed Carlisle Cos. (CSL) executive
Carol P. Lowe as its new chief financial officer, starting next
month.
A U.S. District judge for the Eastern District of Pennsylvania
found former USA Technologies Inc. (USAT) director Bradley Tirpak
violated a nondisparagement-contractual provision in his attempted
proxy battle against the company.
Watson Pharmaceuticals Inc. (WPI) confirmed Thursday it has
filed an application with the U.S. Food and Drug Administration to
market a generic version of Auxilium Pharmaceuticals Inc.'s (AUXL)
Testim 1% gel, a testosterone replacement therapy.
-Edited By Corrie Driebusch and Nathalie Tadena, Dow Jones Newswires; 212-416-2143; corrie.driebusch@dowjones.com