Among the companies with shares expected to actively trade in
Friday's session are F5 Networks Inc. (FFIV), Rigel Pharmaceuticals
Inc. (RIGL) and Radware Ltd. (RDWR).
Network-gear maker F5 Networks slashed its view of fiscal
second-quarter results after business from customers in North
America arrived below expectations. Shares tumbled 17% to $74.90
premarket. Others in the industry also saw their shares fall on
F5's pessimistic outlook. Juniper Networks Inc. (JNPR) shares
dropped 5.6% to $17.10, Riverbed Technology Inc. (RVBD) shares were
off 2% at $14.65, and Cisco Systems Inc. (CSCO) shares fell 3.3% to
$20.34.
Rigel, a small clinical-stage drug developer, is facing very big
investor concerns after its partner, pharmaceutical heavyweight
AstraZeneca PLC (AZN, AZN.LN), released less-than-stellar results
about their drug candidate, fostamatinib. Following a Phase 3
study, the rheumatoid arthritis treatment appears to be an inferior
product to Abbott Laboratories' (ABT) well-established treatment
Humira, according to two analysts. Rigel shares fell 32% to $5.13
premarket.
Radware, which makes application security systems for virtual
and cloud data centers, said results for its first quarter will
miss its previous estimates, citing weaker-than-expected revenue in
Europe, the Middle East, Africa and China. Shares fell 18% to
$31.00 premarket.
Exide Technologies Inc. (XIDE) has retained an adviser to review
financing options to maximize value for the battery manufacturer's
shareholders. Shares surged 35% to $1.85 premarket.
Saba Software Inc. (SABA) said it will be unable to regain
compliance with the company's SEC filing requirements for continued
listing of its common stock on the Nasdaq Global Select Market by
the previously reported April 4 deadline. Saba isn't current in its
periodic report filing requirements with the SEC as a result of the
company's pending restatement of prior financial results. Shares
fell 11% to $6.91 premarket.
Energy Transfer Partners L.P. (ETP) said it is offering 12
million units. The oil and gas company, which had around 305.6
million units outstanding as of March 31, intends to use the
proceeds to pay down debt and for general purposes. Units were down
4.2% to $48.26 premarket.
Latin American wireless operator NII Holdings Inc. (NIHD) has
agreed to sell its Peruvian operations to Empresa Nacional de
Telecomunicaciones S.A. (ENTEL.SN) for around $400 million as it
narrows its focus to Mexico and Brazil. Shares rose 11% in
premarket trading to $5.02.
Valero Energy Corp.'s (VLO) board has approved the spinoff of
its retail business, a move that comes as the company reshuffles
its portfolio. Shares were up 1.5% at $42.07 premarket.
Medical-device maker Mako Surgical Corp. (MAKO) said it has won
a court order barring a former sales manager from working for a
competitor, Blue Belt Technologies. Shares climbed 1.3% to $10.64
premarket.
Watchlist:
Advance Auto Parts Inc. (AAP) has eliminated its position of
chief operating officer, and appointed a new president in a
management shake-up.
Brandywine Realty Trust (BDN) has launched an offering of 10
million shares, intending for the proceeds to be used by its
operating partnership for acquisitions, development, debt
refinancing or other general uses. The office landlord recently had
around 143.7 million shares outstanding.
Moody's Investors Service raised its rating on Dillard's Inc.
(DDS) one notch closer to investment grade, noting the
department-store operator's continued growth in sales and operating
margins.
Hanesbrands Inc. (HBI) expects first-quarter per-share earnings
to significantly top analysts' estimates, although revenue will be
lower than expected as delayed income-tax returns contributed to a
lackluster retail environment. The apparel manufacturer also
initiated a quarterly dividend.
Hewlett-Packard Co. (HPQ) Chairman Raymond Lane is giving up his
powerful post--a surprise move that heralds yet another shakeup of
the technology company's long-beleaguered board.
Rosetta Stone Inc. (RST) said it will close all of its iconic
yellow kiosk locations and cut 245 part- and full-time employees as
the language-learning company moves to become an online
operation.
A jury in Nevada decided Thursday that a local UnitedHealth
Group Inc. (UNH) unit is responsible for two members who contracted
hepatitis C, and awarded $24 million in compensatory damages.
WD-40 Co.'s (WDFC) fiscal second-quarter profit fell 1.2% as the
maintenance and cleaning products company's weaker Americas sales
and higher expenses masked improvements in the Europe and
Asia-Pacific regions. The company beat earnings expectations and
raised its income outlook for the year.
Xyratex Ltd. (XRTX) swung to a fiscal first-quarter loss as the
company posted double-digit declines in its data-storage segment
and its smaller hard-disk-drive business.
Write to Anna Prior at anna.prior@dowjones.com
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