U.S. Hot Stocks: Hot Stocks to Watch
May 26 2016 - 9:52AM
Dow Jones News
Among the companies with shares expected to trade actively in
Thursday's session are Abercrombie & Fitch Co.'s (ANF), Dollar
Tree Inc. (DLTR), and Seadrill Ltd. (SDRL).
Abercrombie & Fitch Co.'s turnaround efforts were derailed
last quarter, as fewer shoppers visited its stores and the teen
retailer tried to hold the line on discounts. Shares dropped 11% to
$22.30 in premarket trading.
Dollar Tree Inc. boosted its outlook for the year as it reported
that sales more than doubled in the most recent quarter, helped by
its acquisition of rival Family Dollar and overhead cost
improvement. The company's shares were up 7.8% to $84.50 in
premarket trading.
Seadrill Ltd. said Thursday it was stepping up cost-cutting to
counter difficult market conditions as the Oslo-listed offshore
drilling company's profit plunged on the year amid weaker rig
rates. Shares of Seadrill rose 5% to $3.58 premarket.
Costco Wholesale Corp. (COST) said its sales stagnated in its
third quarter, and the bulk seller also gave investors a glimpse
into how much a wage increase for its store workers could affect
its bottom line. Shares rose 3% to $148.81 premarket.
Ionis Pharmaceuticals Inc. (IONS) said partner GlaxoSmithKline
PLC has opted against initiating a phase-three study of a treatment
for a rare, potentially fatal organ condition the companies have
been co-developing. The company's shares tumbled 15% to $29.87
premarket.
Lions Gate Entertainment Corp. (LGF) said strong results from
television operations including "Orange Is the New Black" in the
fiscal fourth quarter helped to offset the softer performance of
its movies.
NetApp Inc. (NTAP) on Wednesday gave disappointing financial
projections for the current quarter as it swung to a fourth-quarter
loss driven by a 10% revenue decline and $80 million in costs tied
to the latest round of layoffs.
Burlington Stores Inc. (BURL) raised it guidance for the current
year as the off-price apparel retailer reported that its earnings
rose 46% for the three-month period ended in April.
Dollar General Corp. (DG) on Thursday posted earnings for the
most recent quarter well above market views as sales at the
discount retailer continued to climb and margins improved.
Chico's FAS Inc. (CHS), under pressure from an activist
investor, reported results for the first quarter that missed
expectations, and the women's apparel retailer said it had stepped
up its cost-cutting efforts.
Signet Jewelers Ltd. (SIG) issued guidance for the current
quarter mostly below Wall Street's expectations as the retailer
reported that its earnings rose 24% in the April quarter.
Williams-Sonoma Inc.'s (WSM) first-quarter profit fell 12%, but
results exceeded the company's guidance amid improvement at Pottery
Barn and favorable results from inventory initiatives.
Sears Holdings Corp. (SHLD) reported narrow improvement in its
bottom line in the first quarter as the retailer trimmed expenses,
though revenue continued to slide, and announced the departure of
its chief financial officer.
Guess Inc. (GES) swung to a wider-than-expected loss in the
first quarter, hurt by restructuring charges.
HP Inc. (HPQ), the personal-computer and printer business
created by the breakup of Hewlett-Packard Co. last year, on
Wednesday cut the high end of its annual guidance as it reported a
steeper-than-expected sales drop in the most recent quarter.
PVH Corp. (PVH) on Wednesday raised its profit guidance for the
year after posting stronger-than-expected results for its first
quarter on higher sales of its Calvin Klein and Tommy Hilfiger
brands.
Movado Group Inc. (MOV) on Thursday slashed its already bleak
guidance for the year as the watchmaker reported profit declined
and sales slid below consensus views in the most recent
quarter.
Write to Jenny Roth at jenny.roth@wsj.com and Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
May 26, 2016 09:37 ET (13:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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