Among the companies with shares expected to actively trade in
Wednesday's session are Orexigen Therapeutics Inc. (OREX), Mead
Johnson Nutrition Co. (MJN) and OCZ Technology Group Inc.
(OCZ).
Orexigen Therapeutics said it expects to complete enrollment in
an interim study of cardiovascular risks associated with its
weight-loss treatment Contrave in the first quarter next year,
potentially reducing its initial estimates by half. Shares climbed
7.4% to $6.42 in premarket trading.
A Chinese university said it falsely accused Mead Johnson and
other foreign manufacturers of selling baby formula containing
unsafe additives due to testing errors, adding to the uncertainty
surrounding the safety of dairy products in China. The report
caused a scare among Mead Johnson investors, spurring a 4% decline
in its stock Tuesday. Shares were up 4.3% to $78.50 in premarket
trading.
OCZ Technology Group's fiscal first-quarter loss narrowed on
prior-year acquisition-related charges as the
data-storage-technology company reported strong revenue growth.
Shares were down 13% at $4.73 premarket as the adjusted loss was
wider than analysts had forecast.
HHGregg Inc. (HGG) projected downbeat fiscal first-quarter
results, noting continued weakness in its video business, and also
lowered its full-year guidance. The home-appliances and electronics
retailer's shares slumped 28% to $8.32 premarket.
Shares of Abercrombie & Fitch Co. (ANF) climbed 4.5% to
$34.25 in premarket trading after the New York Post reported
sources say the company may be planning a "massive" buyback of its
shares. A spokesman for teen retailer did not immediately respond
to a request for comment.
VOXX International Corp. (VOXX) swung to a fiscal first-quarter
loss as the audio-equipment maker logged heavy charges on
litigation, an acquisition and foreign-exchange translation,
masking a jump in revenue. Analysts had projected the company to
post a profit. VOXX also lowered its full-year outlook for earnings
before interest, taxes, depreciation and amortization. Shares slid
12% to $8.58 premarket.
Prospect Capital Corp. (PSEC) plans to offer 21 million shares.
Shares of the specialty finance company fell 6.7% to $11.10
premarket.
Watchlist:
Adtran Inc.'s (ADTN) second-quarter earnings fell 43% as the
company's revenue declined and costs rose. Chief Executive Tom
Stanton said the results "reflect a tightening spending
environment."
American Campus Communities Inc. (ACC) said its offering of 15
million shares of common stock priced at a 1.7% discount to
Tuesday's closing price.
Beazer Homes USA Inc. (BZH) said its offering of 22 million
shares of common stock priced at a 2.7% discount to Tuesday's
closing price.
Chubb Corp. (CB) said it expects second-quarter catastrophe
losses of approximately $200 million to $240 million before tax,
primarily due to severe hail and wind storms in the U.S.
Cliffs Natural Resources Inc. (CLF) has agreed to sell its 45%
stake in the Sonoma coal mine joint venture in Queensland,
Australia, to privately owned QCoal Sonoma Pty. Ltd. for
approximately A$141 million.
CYS Investments Inc. (CYS) said it will offer 30 million shares
and said it plans to use the proceeds to invest in residential
mortgage-backed securities issued by government-sponsored
enterprises.
Duke Energy Corp. (DUK) said three of its executives have
resigned, effective immediately, a week after the completion of the
company's merger with Progress Energy Inc. and the abrupt ouster of
its chief executive.
Eli Lilly & Co. (LLY) said Wednesday that results from its
clinical trial investigating a drug to treat patients suffering an
acute exacerbation of schizophrenia missed the study's primary
endpoint.
Goldcorp Inc. (GG, G.T) cut its full-year gold-production
guidance due to reduced output at its Red Lake mine in Ontario in
the first half of the year and expected lower production at its
Penasquito mine in Mexico in the second half.
Healthcare Services Group Inc. (HCSG) second-quarter earnings
rose 15% as the company posted strong revenue growth.
KLA-Tencor Corp. (KLAC) expects fiscal fourth-quarter earnings
to exceed its prior guidance as revenue came in near the high end
of its projected range.
OraSure Technologies Inc. (OSUR) said its offering of 6.1
million shares of common stock priced at $12.30 a share, a 0.3%
discount to Tuesday's closing price.
VeriFone Systems Inc. (PAY) was awarded a five-year contract by
the District of Columbia Taxicab Commission valued at between $35
million and $45 million to install electronics systems to handle
credit-card payments and provide other information.
Weight Watchers International Inc. (WTW) has named Nicholas P.
Hotchkin to be finance chief, succeeding Ann Sardini, who recently
retired.
Williams Partners L.P. (WPZ) and other investment partners
agreed to invest $800 million in a joint venture with Caiman Energy
II aimed at supporting oil and gas production in the Utica Shale
region.
Write to Mia Lamar at mia.lamar@dowjones.com