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.
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 [email protected]