Among the companies with shares expected to actively trade in
Friday's session are Janus Capital Group Inc. (JNS), Nike Inc.
(NKE) and Micron Technology Inc. (MU).
Legendary bond investor Bill Gross is leaving Pacific Investment
Management Co., the company he helped found, to join Janus Capital.
Mr. Gross will manage a newly created Janus Global Unconstrained
bond fund and related strategies. Shares surged 40% premarket to
$15.50.
Nike said its August quarter earnings rose 23%, helped by a
lower tax rate and consumers spending more on footwear and apparel.
Shares rose 9.4% to $87.24 as the results beat expectations.
Diamond Foods Inc. (DMND) posted better-than-expected fiscal
fourth-quarter results as sales in its nuts and snacks segments
picked up strength and operating expenses decreased. Shares edged
up 4.4% to $27.80 premarket.
Finish Line Inc. (FINL) said its fiscal second-quarter profit
ticked down 1.3% as higher costs, expenses and write-downs cut into
higher sales. The results fell short of analysts' expectations, as
well as the company's. Shares dropped 9.1% to $26.73 premarket.
Micron said "favorable market conditions" helped the memory-chip
maker report a better-than-expected revenue increase of 6% in its
August quarter. The company also projected better-than-expected
sales for the current quarter. Shares climbed 6.9% to $33.87
premarket.
Powell Industries Inc. (POWL), which produces equipment and
systems used to manage electrical energy, slashed its fiscal year
outlook on start-up issues related to its May implementation of new
business systems and tools that resulted in scheduling delays and
higher-than-expected costs during July and August. Shares dropped
9.1% to $45.19 premarket.
Progress Software Corp. (PRGS) reported a stronger-than-expected
adjusted profit for its fiscal-third quarter as the
business-software company benefited from revenue growth and lower
operating expenses, sending its shares up 8% to $25 premarket.
Watch List:
Boeing Co. (BA) and aviation regulators have agreed on mandatory
replacement of certain foamlike blocks inside the structures of
more than 80 of the company's 787 Dreamliner jets to ensure
fire-suppression systems will work properly in case of an
emergency.
Coach Inc. (COH) said the former chief executive credited with
transforming the retailer from a leather goods company to an
international brand will retire in November. Lew Frankfort, who
joined Coach in 1979, stepped down from his post as chief executive
last year and became executive chairman.
Fabrinet (FN), a contract manufacturer specializing in optical
products, has again delayed its 10-K report as it reviews its
accounting practices concerning consignment goods.
For the first time in nine years, General Motors has an
investment grade rating from the two largest credit agencies in the
U.S. Standard & Poor's upgraded the auto maker and its lending
arm, GM Financial, to BBB- from BB+.
L-3 Communications Holdings Inc. (LLL) on Friday revealed more
accounting problems and revisions to prior results as the company
found material weaknesses in its internal financial controls.
Pep Boys-Manny Moe Jack (PBY) said Friday that Chief Executive
Mike Odell has resigned after six years in the post, and director
John Sweetwood will serve as interim CEO, effective
immediately.
Two large stakeholders in Shutterfly Inc. (SFLY), Marathon
Partners Equity Management LLC and the firm's managing partner
Mario Cibelli, said Friday they are willing to support a sale of
the company at a fair price.
Symantec Corp. (SYMC) appointed Michael A. Brown, the
computer-security company's interim chief executive, to the post
permanently, ending a six-month search.
Write to Josh Beckerman at josh.beckerman@wsj.com
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