Among the companies with shares expected to actively trade in
Thursday's session are Morgan Stanley (MS), Walgreen Co. (WAG) and
EBay Inc. (EBAY).
Morgan Stanley's (MS) second-quarter profit dropped 50% as the
bank recorded a weak performance in its institutional securities
business, which includes investment banking and trading results.
Shares slid 5.2% to $13.27 premarket after earnings fell short of
analyst expectations.
Walgreen Co. (WAG) and pharmacy-benefit manager Express Scripts
Holding Co. (ESRX) struck a multi-year pharmacy network agreement,
concluding a long-running dispute between the two companies. Shares
of Walgreen, which has struggled with slumping sales since leaving
the Express Scripts network on Jan. 1, surged 14% to $35.23 in
premarket trade. Fellow pharmacy chain CVS Caremark Corp. (CVS)
shed 5.1% to $46.00 while Express Scripts added 3.7% to $59.83.
EBay Inc. (EBAY) said Wednesday both its core business and its
PayPal payments unit have continued to turn in strong performances,
helping send the Internet pioneer's shares up 6.7% to $43.15
premarket. Revenue beat expectations.
International Business Machines Corp. (IBM) boosted its guidance
for full-year earnings, alleviating some worries about tech
spending, even as its revenue fell short of expectations for the
fourth-straight quarter amid "pretty significant" currency
headwinds. Shares gained 2.6% to $193.17 premarket.
Qualcomm Inc.'s (QCOM) fiscal third-quarter profit rose 17% as
the chip maker continued to see strong demand for its smartphone
technology. Shares traded 5.8% higher at $59.28 premarket.
Select Comfort Corp.'s (SCSS) second-quarter earnings climbed
50% as the mattress seller booked strong sales through its
company-exclusive distribution system. Results beat analyst
expectations and the company also raised its earnings target for
the year. Shares jumped 22% to $26.50 premarket.
Mellanox Technologies Ltd.'s (MLNX, MLNX.TV) second-quarter
earnings soared as the data-storage company's better-than-expected
revenue broke a new record. Shares surged 46% to $95.70 premarket
as adjusted earnings sharply beat analysts' expectations.
PPG Industries Inc. (PPG) plans to merge its chemicals business
with Georgia Gulf Corp. (GGC) in a $2.1 billion cash-and-stock
deal. The paints-and-chemicals supplier agreed to form a new
company by separating its chemicals business and merging it with
Georgia Gulf. PPG shareholders will receive 50.5% of the shares of
the merged company. Georgia Gulf shares surged 14% to $32.99
premarket; PPG shares added 1.6% to $105.87.
Skyworks Solutions Inc.'s (SWKS) fiscal third-quarter earnings
fell 4.3% as the wireless-semiconductor company struggled with
higher costs that outpaced improved revenue. However, shares popped
8.1% to $28.80 premarket as the company topped its quarterly
estimates.
Diana Containerships Inc. (DCIX) plans to offer 8.1 million
shares to raise funds for general corporate purposes, including
vessel acquisitions and working capital. Shares fell 16% to $6.07
premarket.
Nanosphere Inc. (NSPH) intends to offer shares to raise proceeds
for general corporate purposes and working capital. The medical
diagnostic-test developer didn't indicate how many shares it plans
to sell. Shares sank 5% to $2.50 premarket.
Johnson Controls Inc.'s (JCI) fiscal third-quarter earnings rose
17% as the car battery maker saw a rise in revenue along with lower
expenses. Shares slumped 6.4% to $26.50, however, as results came
in below Wall Street estimates and the company's previous growth
forecast.
Anthera Pharmaceuticals Inc. (ANTH) said it will offer an
undisclosed number of shares, intending to use the proceeds for the
drug maker's general corporate purposes. Shares were down 15% to
$1.13 premarket.
Watchlist:
Alliance Data Systems Corp.'s (ADS) second-quarter earnings rose
50% on stronger-than-expected revenue growth and lower provisions
for loan losses.
American Express Co.'s (AXP) second-quarter profit was
essentially flat as the pace of customer card spending slowed,
though it continued to benefit from historically low loan
losses.
Capital One Financial Corp.'s (COF) second-quarter earnings
plunged 90% from a year earlier as the company booked a slew of
charges related to its acquisition of HSBC Holdings PLC's (HBC,
0005.HK, HSBA.LN) U.S. credit-card portfolio and a settlement with
U.S. regulators.
Crown Holdings Inc.'s (CCK) second-quarter earnings edged 3.9%
higher as the food-packaging maker recorded a gain from insurance
proceeds, masking a decline in revenue.
F5 Networks Inc.'s (FFIV) fiscal third-quarter profit rose 16%
on healthy network-security demand, though the company warned
cautious economic sentiment would drag on current-quarter
results.
Greenhill & Co. (GHL) said its second-quarter profit fell
90% to $2.2 million on significantly lower revenue from advisory
services compared to last year's strong quarter.
Kinder Morgan Energy Partners LP's (KMP) second-quarter earnings
fell 33% as the company posted losses related to fair value impacts
related to discontinued operations. Meanwhile, Kinder Morgan Inc.
(KMI), which owns Kinder Morgan Energy's general partner, swung to
a loss, also citing the fair-value impacts.
Noble Corp.'s (NE) second-quarter earnings surged more than
expected as the offshore-oil driller saw contract dayrates continue
to rise.
RLI Corp.'s (RLI) second-quarter earnings fell 45% as the
specialty insurer's expenses rose, though the company saw an
increase in earned premiums.
SLM Corp.'s (SLM) second-quarter core profit rose slightly as
its private-lending business continued to expand and expenses and
loan-loss provisions again fell. But sliding interest income and
higher funding costs in its legacy government-backed loan portfolio
restrained earnings.
Stryker Corp.'s (SYK) second-quarter earnings rose 4.8% as the
company absorbed some charges, while sales growth was hampered by
unfavorable foreign-currency rates and softness in international
orthopedic markets.
UnitedHealth Group Inc.'s (UNH) second-quarter earnings rose
5.5% as the health insurer's revenue improved at its
UnitedHealthcare insurance business and Optum, its information- and
technology-based health-services business.
Verizon Communications Inc.'s (VZ) second-quarter earnings rose
13% as the company added more contract wireless customers and
increased its base of FiOS subscribers.
Werner Enterprises Inc.'s (WERN) second-quarter earnings rose
11% as the trucking company recorded improved margins and growth in
its logistics business.
Yum! Brands Inc. (YUM), which owns the Pizza Hut, KFC and Taco
Bell fast-food chains, saw its profit rise 4.8% in the latest
quarter, as improvements at Taco Bell boosted its U.S. business,
which is becoming more important given the pullback in China's
economic growth.
Xilinx Inc.'s (XLNX) fiscal first-quarter earnings fell 16% as
the chip maker saw sales declines in most of its main end
markets.
-Write to Mia Lamar at mia.lamar@dowjones.com
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