Hot Stocks to Watch in the U.S. and Canada
May 05 2017 - 9:42AM
Dow Jones News
By Imani Moise
Among the companies with shares expected to trade actively in
Friday's session are VWR Corp. (VWR), Universal Display Corp.
(OLED), and International Business Machines Corp. (IBM).
VWR shares fell 2.7% premarket to $33.12 as New Mountain Capital
LLC's Avantor reached a deal to buy it at a 2.3% discount from
Thursday's closing price. The Wall Street Journal reported earlier
this week that New Mountain was near a deal for the
laboratory-supply distributor.
Shares of organic light-emitting diode materials maker Universal
Display rose or 17% to $104.99 after the company reported
first-quarter revenue and profit that blew away consensus
estimates. The company also raised its full-year outlook, adding it
now has "sufficient visibility" to predict higher revenue.
IBM shares fell 3.6% premarket as billionaire Warren Buffett
said his Berkshire Hathaway Inc. (BRKA, BRKB) sold about a third of
its stake in the computing giant after losing confidence in it. Mr.
Buffett's announcement is another blow for IBM, which reported a
13% profit decline and across-the-board margin declines in the
first quarter.
Shake Shack Inc. (SHAK) shares gained 3% premarket after
Buckingham Research Group upgraded the stock, saying the
fast-casual dining chain has passed its toughest sales comparisons
and is set up for growth.
Silver Private Holdings, which is controlled by Siris Funds,
disclosed a 12.93% stake in Synchronoss Technologies Inc. (SNCR),
sending Synchronoss shares up 19% premarket. The fund said it is
interested in talks with the company to discuss one or more
strategic transactions.
Moody's Corp. (MCO) reported record revenue and said it
benefited from strong issuance activity, especially in leveraged
finance markets, during its first quarter. Shares rose 0.5% to $120
premarket.
Shares of Herbalife Inc. (HLF) climbed 5.7% premarket after the
nutritional-products company posted strong quarterly earnings and
issued an upbeat outlook for the full year.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
May 05, 2017 09:27 ET (13:27 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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