ASH Ashland Inc

Among the companies with shares expected to trade actively in Wednesday's session are Salesforce.com Inc. (CRM), Michael Kors Holdings Ltd. (KORS) and Lands' End Inc. (LE).

Michael Kors Holdings Ltd. logged a much better-than-expected 11% rise in revenue in the final quarter of the year but gave a dim outlook for the current quarter and year as it expects to spend on global investments amid a comparable sales decline. Shares rose 7.33% to $45.85 in premarket trading.

Salesforce.com Inc. agreed to buy digital commerce platform company Demandware for $2.8 billion. Shares fell 0.97% to 82.90 premarket.

Lands' End Inc. swung to a loss in its latest quarter, dragged by a steep sales decline and aggressive discounting. Shares fell 6.38% to $15.70 premarket.

Corning Inc. (GLW) said it had successfully exchanged shares of silicone company Dow Corning for cash and an interest in a semiconductor company, ending a 73-year joint venture with Dow Chemical Co. (DOW). Corning shares rose 0.43% to $20.98 premarket.

G-III Apparel Group Ltd. (GIII) on Wednesday said profit fell on higher expenses and a "challenging retail climate" for its retail division, though the decline wasn't as bad as expected because of strength in its wholesale business. Shares rose 2.25% to $40.00 premarket.

Ascena Retail Group Inc.(ASNA), the owner of Ann Taylor and other brands, on Tuesday cut its projections for the year following disappointing results for the April quarter.

SoftBank Group Corp. of Japan said Tuesday it would sell up to $8.9 billion of its stock in Chinese e-commerce company Alibaba Group Ltd.(BABA), cutting its stake in the Chinese company to about 28%, as it looks to cut down its debt.

Ashland Inc. (ASH) on Tuesday filed to reorganize as a public holding company while its Valvoline business filed to go public, key steps in Ashland's previously announced plans to split in two by year's end. The proposed reorganization, subject to shareholders' approval, would move the legal headquarters of the holding company, Ashland Global Holdings Inc., to Delaware. Ashland is currently based in Kentucky.

BioMarin Pharmaceutical Inc. (BMRN) will abandon development of an experimental treatment for Duchenne muscular dystrophy and three other related products, the company said Tuesday. The California biopharmaceutical company, which on Tuesday said it still expects to at least break even in 2017 on an adjusted basis, had warned that a rejection or abandonment of Kyndrisa would force it to "write off all or a significant portion of the costs" tied to its 2014 acquisition of Prosensa. On Tuesday, BioMarin didn't say what, if any, charges it would book.

Boyd Gaming Corp. (BYD) agreed to sell its 50% stake in Atlantic City's Borgata Hotel Casino & Spa to its partner, MGM Resorts International. (MGM) MGM expects to sell Borgata's real-estate assets to the real-estate investment trust that was spun off from the Las Vegas-based casino company and went public in April.

Hanesbrands Inc. (HBI) on Tuesday raised its projections for the year, citing its impending acquisitions of Champion Europe and Pacific Brands Ltd., slated to close in late June and July, respectively. On a fully reported basis, however, the company lowered its profit view on higher acquisition-related costs.

Krispy Kreme Doughnuts Inc.'s (KKD) revenue rose 3% in the latest quarter, mostly driven by sales in its domestic business.

Staples (SPLS) said Chief Executive Ron Sargent will step down on June 14, weeks after the office-products retailer and Office Depot Inc. called off their merger amid regulatory roadblocks.

Television set-top box maker TiVo Inc. (TIVO)'s revenue fell 6.5% in the latest quarter as a decline in the company's hardware segment offset growth in its service and software business and its technology segment.

Under Armour Inc. (UA) on Tuesday cut its projections for the year, citing the bankruptcy of Sports Authority. Under Armour said it would only realize about one-quarter of the revenue it had projected from Sports Authority and would book a $23 million charge in the current quarter.

Zoës's Kitchen Inc. (ZOES) on Tuesday raised its sales projections for the year after profit more than doubled in the April quarter.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

June 01, 2016 09:27 ET (13:27 GMT)

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