By Maria Armental
Among the companies with shares expected to actively trade in
Friday's session are Bed Bath & Beyond (BBBY), Five Below Inc.
(FIVE) and Macy's Inc. (M).
AbbVie Inc. (ABBV) on Thursday said it expects sharply higher
earnings for the new year, driven by rheumatoid-arthritis drug
Humira and the launch of its new hepatitis C virus treatment.
Shares slipped less than 1% to $67.25 in recent premarket
trading.
AngioDynamics Inc. (ANGO) posted higher earnings for its
November quarter as the medical-device company's sales were at the
high end of its expectations and cost-saving moves helped margins.
Shares were inactive premarket.
Bed Bath & Beyond third-quarter profit fell 5%, as shipping
and promotional expenses again offset an increase in sales, hurting
the housewares retailer's margins. The company's shares fell 4.5%
to $75.90 premarket.
Container Store Group Inc. (TCS) again cut sales guidance for
its business year ending in February as the
storage-and-organization products retailer posted disappointing
sales for the quarter ended November. Shares fell 9.9% to $19.12 in
premarket trading.
Five Below expects fourth-quarter results at the low end of its
guidance, reflecting softness after Black Friday continuing into
December. The stock fell 14% to $37.31 premarket.
Francesca's Holdings Corp. (FRAN) raised its guidance for the
soon-to-end quarter, based on its sales performance in the holiday
shopping period as well as on expectations for the rest of the
period. Shares were inactive premarket.
Gap Inc. (GPS) reported December sales rose 1%, slightly above
analysts' expectations, while sales for the holiday-shopping season
rose 3% from a year earlier. Better-than-expected growth at its Old
Navy brand was partly offset by a larger-than-expected decline at
its namesake chain. The stock declined slightly to $42.97
premarket.
General Mills Inc. (GIS) said it plans to eliminate another 500
jobs with the closures of two Pillsbury dough factories, adding to
the roughly 1,400 job cuts it announced last year as it tries to
improve profitability amid lackluster industry sales. Shares were
inactive premarket.
Helen of Troy Corp.'s (HELE) third-quarter profit jumped nearly
48%, driven by stronger-than-expected sales, though the maker of
Hot Tools hair stylers and Brut aftershave reported a drop in sales
in its personal-care segment. Shares of the company rose 6.6% to
$71 premarket.
Macy's announced plans on Thursday to change how it stocks and
sells clothing and other items saying it is trying to respond to a
shift in consumer shopping. The retailer wants to strengthen its
e-commerce and open more outlet stores and said it is considering
off-price retailing, much like T.J. Maxx and Ross Stores Inc. The
company's stock declined 2.3% to $66.25 in premarket trading.
Ruby Tuesday Inc. (RT) lowered its full-year sales guidance on
Thursday, as the casual-dining chain posted a slightly
wider-than-expected loss and disappointing revenue for the second
quarter ended in December. Shares were inactive.
Starbucks Corp.'s (SBUX) Chief Operating Officer Troy Alstead
will take an indefinite leave of absence, the company said on
Thursday, a year after he was promoted to be the coffee chain's
second in command. The company didn't give a reason, but said Mr.
Alstead had asked to take an extended leave in 2008 but agreed to
stay on as the company was reeling from a steep profit decline. The
company's shares slid 1.1% in premarket trading
Watchlist:
Acuity Brands Inc. (AYI) said its earnings rose in the most
recent period as demand for LED lights continued to bolster the
company's sales. The results topped analysts' expectations.
McCormick Co. (MKC) said Friday that Lawrence Kurzius has
stepped into the newly created position of chief operating officer
and president, overseeing business world-wide for the spice
company.
Steven Madden Ltd. (SHOO) warned its performance over the
holiday quarter was slower than expected amid weakness at its newly
acquire Dolce Vita brand, challenges caused by production delays on
goods from Mexico and added air freight costs tied to the West
Coast port slowdown.
Spectrum Brands Holdings Inc. (SPB) said Friday that it started
a succession process as Chief Executive David R. Lumley plans to
retire by the end of the year.
Write to Maria Armental at maria.armental@wsj.com
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