Among the companies with shares expected to actively trade in
Tuesday's session are Outerwall Inc. (OUTR), Huntsman Corp. (HUN)
and Aeropostale Inc. (ARO).
Outerwall trimmed its financial targets for the current quarter
and 2013, as the kiosk operator said recent Redbox rentals didn't
meet expectations and high promotions hurt the average size of
transactions. Outerwall said while rentals and revenue for Redbox
were both higher in July and August from prior-year levels, "they
were not to our expectations." Shares slumped 17% to $46.47 in
premarket trading.
Huntsman agreed to buy fellow chemical maker Rockwood Holdings
Inc.'s (ROC) performance additives and titanium dioxide businesses
for $1.1 billion in cash, allowing Huntsman to become the
second-largest global producer of titanium dioxide and inorganic
color pigments for uses like paints and industrial coatings.
Huntsman shares rose 6.8% to $20.45 in light premarket trading.
A Sycamore Partners fund has taken a nearly 8% stake in
Aeropostale, calling the teen retailer "an attractive investment."
Sycamore said it may communicate with the company's management and
board about Aeropostale's business, assets strategy and future
plans, among other issues. Shares jumped 12% premarket to
$9.62.
Repros Therapeutics Inc. (RPRX) said its experimental drug for
treating low testosterone produced almost identical positive
results in the second of two late-stage trials needed for its
effort to win regulatory approval. In both studies the drug, called
Androxal, met the study goal of helping 75% or more patients
achieve normal testosterone levels while also meeting another
primary goal of not worsening patients' sperm count. Shares surged
36% to $29 premarket.
Werner Enterprises Inc. (WERN) issued a third-quarter earnings
outlook that fell short of Wall Street's expectations, as the
trucking company cited lower equipment sale gains, higher costs and
other factors. The company's muted guidance comes after it didn't
provide any financial estimates in the first two quarters of the
year, though those results also missed expectations. In premarket
trading, shares slid 4.8% to $23.23.
Pandora Media Inc. (P) said it plans to offer 10 million shares
and that a stakeholder would offer an additional four million
shares. For the proceeds being raised by the Internet radio service
provider, the company intends to use the funds for general
corporate purposes such as working capital and capital
expenditures. Shares were down 3.3% to $23.20 premarket.
Shares of Kythera Biopharmaceuticals Inc. (KYTH) jumped after
the clinical-stage biopharmaceutical firm disclosed positive
results for two Phase III trials for its treatment of submental
fat, also known as a double chin. The stock climbed 26% to $42.20
premarket.
Chinese solar product company JinkoSolar Holding Co. (JKS)
outlined plans to offer 3.5 American depositary shares. The company
has about 22.3 million ADS outstanding, according to Factset, and
they were off 6% to $17.60 premarket.
Watch list:
Altria Group Inc. (MO) raised its full-year profit outlook, a
rosier view attributed to a credit the tobacco company expects to
receive tied to an arbitration panel ruling involving several U.S.
states. The adjusted profit guidance was reaffirmed.
Coty Inc.'s (COTY) fiscal fourth-quarter loss narrowed sharply
after the beauty-products maker posted significant write-downs a
year ago, in its first quarterly report as a newly public company.
The company warned Tuesday that it expects its revenue in its first
quarter to marginally decline from the prior year, citing a
deceleration of market growth in the U.S. and Europe over the last
few months.
Activist shareholder Sardar Biglari is pushing for restaurant
and retail-store chain Cracker Barrel Old Country Store Inc. (CBRL)
to declare a special dividend of $20 a share and said he plans to
call for a special meeting of shareholders to vote on it.
FactSet Research Systems Inc.'s (FDS) fiscal fourth-quarter
earnings rose 5% as the financial-data provider reported its
strongest quarterly client increase in years, though revenue growth
continued to slow. Results met the company's expectations.
Hudson's Bay Co. (HBC.T) appointed Harrods executive Marigay
McKee as the new president of Saks Fifth Avenue, effective once the
Canadian retailer completes its pending acquisition of the U.S.
luxury retailer. Earlier Monday, Saks Inc. (SKS) said Chairman and
Chief Executive Stephen I. Sadove and the retailer's president and
chief merchant, Ronald L. Frasch, plan to leave the company
following the merger.
James River Coal Co. (JRCC) disclosed plans to idle coal
production at several locations in Central Appalachia, citing
continuous weakness in coal markets domestically and in markets
abroad. The plan to idle production will result in about 525
full-time employees being furloughed, James River said.
Mosaic Co. (MOS) lowered its sales, volume and margin guidance
for its potash and phosphates segments in the calendar third
quarter amid short-term weakness in markets. The fertilizer
company's long-term outlook remains positive amid high commodity
prices and other fundamentals that are expected to drive
near-record phosphate and potash shipments this year, said
President and Chief Executive Jim Prokopanko. Yet, he warned: "In
the short term, however, dealers are cautious and are deferring
purchases."
Write to Lauren Pollock at lauren.pollock@wsj.com
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