Among the companies with shares expected to actively trade in
Friday's session are Zynga Inc. (ZNGA), Curtiss-Wright Corp. (CW)
and Datalink Corp. (DTLK).
Zynga rattled Wall Street Thursday by cutting its financial
outlook thanks to difficulty winning audiences for the social-games
company's new titles, helping send its shares plummeting to new
lows after hours. Shares of Zynga fell 20% to $2.25 in premarket
trading. The San Francisco company went public in December with its
shares initially priced at $10 apiece.
Curtiss-Wright slashed its full-year guidance to reflect a
recent labor strike and continued delays in the start of large oil
and gas projects. The engineering company said Friday it also
incurred additional unplanned investments in the AP1000 nuclear
reactor program and saw modest softening of new orders. Shares fell
3.6% to $31.77 premarket.
Datalink, a provider of data-center infrastructure and services,
cut its third-quarter guidance, citing customer caution amid the
lagging economic recovery. Shares dropped 16% premarket to $7.21 on
the dimmed outlook.
Telecommunications firm Inteliquent (IQNT) said its board of
directors has approved a special one-time cash dividend of $3 a
share, or about $97 million in the aggregate. Despite the company
also saying it is engaged in ongoing negotiations with one of its
largest customers that may result in a significant reduction in the
rates that the customer pays and require Inteliquent to pay to
terminate certain traffic to that customer, shares rose 4.3% to
$9.45 in premarket trading.
Arbor Realty Trust Inc. (ABR) is offering 3.5 million shares of
common stock as the real estate investment trust looks to raise
funds to make investments, pay liabilities and for general
corporate purposes. The company had 27.7 million shares outstanding
as of Aug. 3. Shares slipped 5% to $5.75 premarket.
Cell Therapeutics Inc. (CTIC) said an underwritten public
offering of 60,000 shares of its Series 17 preferred stock priced
at $1,000 a share. Each share is convertible at the option of the
holder into about 714 shares of common stock at a conversion price
of $1.40 per share of common stock, and will automatically convert
in some circumstances. The biopharmaceutical company had about
283.4 million shares of common stock outstanding as of July 30.
Shares fell 29% to $1.44 in premarket trading.
Watchlist:
Cache Inc. (CACH) sees a larger third-quarter loss than it had
previously expected as its results were hurt by increased
promotions and lackluster sales for its early fall offerings, and
the women's apparel company also launched a search for a new
president and merchandising chief.
Cisco Systems Inc. (CSCO) gave two senior executives the title
of president Thursday, effectively naming frontrunners in the race
to eventually succeed longtime Chief Executive John Chambers.
Hertz Global Holdings Inc. (HTZ) said it has extended the
expiration date of its previously announced cash tender offer to
purchase all outstanding shares of common stock of Dollar Thrifty
Automotive Group Inc. (DTG) for $87.50 per share. The tender offer
is now scheduled to expire at 5 p.m., New York City time, on Oct.
22 unless further extended.
Moody's Investors Service has placed Hewlett-Packard Co.'s (HPQ)
investment-grade credit rating on review for a downgrade after the
company cut its profit expectations.
Infoblox Inc. (BLOX) said an offering of 5 million shares from
stockholders priced at a 3.3% discount to Thursday's close.
Mercury Computer Systems Inc. (MRCY) lowered its fiscal
first-quarter guidance as uncertainties related to the U.S. defense
budget and slowdown in defense program funding and contracting hurt
the company's business more significantly than it had
anticipated.
The Athens bourse Friday suspended trading in the shares of
National Bank of Greece SA (NBG, ETE.AT), the country's largest
lender, and peer EFG Eurobank Ergasias SA (EGFEY) following press
reports that the lenders are in merger talks.
Saba Software Inc. (SABA) has widened the scope of its efforts
to restate its previous results.
WellCare Health Plans Inc. (WCG), Humana Inc. (HUM), Coventry
Health Care Inc. (CVH) and a local not-for-profit plan have all won
business to cover a total of 175,000 Medicaid recipients in
Kentucky starting next year.
Write to Anna Prior at anna.prior@dowjones.com
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