Among the companies with shares expected to trade actively in Wednesday's session are BlackBerry Ltd. (BBRY), Tempur Sealy International Inc. (TPX), and Coty Inc. (COTY).

 

BlackBerry on Wednesday said it would outsource the making of handsets--the business that once allowed it to dominate the consumer smartphone market--and instead turn its full focus to developing secure software and services to drive growth. BlackBerry shares rose 3.1% to $8.12 in premarket trading.

 

Tempur Sealy on Tuesday lowered its financial projections for the year, citing weaker than expected sales this quarter. Shares of Tempur Sealy tumbled 22% to $58.30 in premarket trading.

 

Coty will replace Diamond Offshore Drilling Inc. (DO) in the S&P 500 index after the close of trading on Sept. 30, according to S&P Dow Jones Indices. Coty shares were up 1.9% at $23.90 premarket.

 

Nike Inc. (NKE) said revenue rose 7.7% in the latest quarter as the world's largest sportswear maker reported stronger sales in its North American business. But future orders, seen as a demand benchmark for Nike products, missed analysts' targets. Shares of Nike fell 2.7% to $53.85 premarket.

 

Farrellgas Partners LP (FGP) posted a loss for the latest quarter, blaming record temperatures for driving down propane demand and low crude oil prices for hurting its midstream sector. The company said it is weighing cutting its quarterly distribution to reduce its debt and leverage ratio. Shares fell 12% to $14.52 premarket.

 

Wells Fargo & Co. (WFC) Chairman and Chief Executive John Stumpf will forfeit $41 million over the bank's burgeoning sales scandal, marking one of the biggest rebukes to the head of a major U.S. financial institution.

 

A German privacy watchdog has ordered Facebook Inc. (FB) to stop collecting user data from its messenger subsidiary WhatsApp, the latest clash between European privacy authorities and the social-network company.

 

Harmonic Inc. (HLIT), which provides video infrastructure technology, said Comcast Corp. (CMCSA) has agreed to buy Harmonic shares under a warrant agreement. Shares of Harmonic rose 7.5% to $5.01 premarket.

 

Paychex Inc. (PAYX) said that its earnings rose 4% in the latest quarter as the company continued to add more clients. Revenue was boosted by an acquisition.

 

Sonic Corp. (SONC) said quarterly profit will miss Wall Street targets amid lower consumer spending at its restaurants. Comparable sales, a key performance metric for restaurants, fell about 2%, compared with analysts' projected 0.5% increase.

 

Write to Jenny Roth at jenny.roth@wsj.com and Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

September 28, 2016 09:34 ET (13:34 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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