Among the companies with shares expected to actively trade in
Friday's session are Iron Mountain Inc. (IRM), Quiksilver Inc.
(ZQK) and First Security Group Inc. (FSGI).
Iron Mountain said a review by U.S. tax authorities of the
standards for real estate investment trust provisions may delay the
document storage company's proposed conversion to a REIT. Iron
Mountain also disclosed that prior to the formation of the working
group, the IRS had informed the company that it was "tentatively
adverse" to providing a private letter ruling that the company's
racking structures constitute "real estate" for REIT purposes. The
company's shares slid 15% to $29.30 premarket. Billboard company
Lamar Advertising Co. (LAMR) and data-centers firm Equinix Inc.
(EQIX), which are both pursuing REIT conversions, saw their shares
drop 8% and 8.3%, respectively, premarket. Both companies confirmed
the IRS has delayed a ruling on their potential conversions to a
REIT as the agency reviews its policy.
Quiksilver's fiscal second-quarter loss widened as at the sports
outfitter reported weaker Europe sales and significant asset
impairment charges. Shares slid 12% to $6.73 premarket as results
also missed analysts' expectations.
First Security Group said the U.S. Securities and Exchange
Commission is allowing certain shareholders to resell up to about
60.7 million shares. The bank holding company of FSGBank NA had
62.4 million shares outstanding as of May 15. Shares sank 41% to
$2.68 premarket.
TiVo Inc. (TIVO) said it will receive an upfront lump-sum
payment of $490 million from Google Inc. (GOOG) and Cisco Systems
Inc. (CSCO) to settle patent litigation with both companies.
However, shares fell 20% to $11.00 premarket.
Waterstone Financial Inc. (WSBF) said Lamplighter Financial MHC
will sell its majority ownership stake, allowing the company to
convert to a fully public stock holding company. Shares rose 19% to
$9.37 premarket.
Christopher & Banks Corp. (CBK) swung to a fiscal
first-quarter profit on stronger same-store sales and smaller
write-downs. Shares rose 6.9% to $7.30 in light premarket trading
as the women's clothing retailer's results topped Wall Street
expectations.
JinkoSolar Holding Co. (JKS) sharply narrowed its first-quarter
loss, reporting results well above Street views, as the Chinese
solar-products maker logged stronger margins amid lower costs for
its polysilicon and auxiliary materials, while shipments climbed.
American depositary shares jumped 10% to $9.33 premarket.
Watchlist:
Aircastle Ltd. (AYR) has agreed to sell a roughly 15% stake to
Marubeni Corp. (MARUY, 8002.TO), making the Japanese trading house
its largest shareholder. Aircastle, which acquires and leases
commercial jet planes to airlines, will issue its shares at $17 a
share.
AT&T Inc. (T) on Thursday said promotions and investments
designed to grow its wireless business will weigh on profitability
in the second quarter.
Chemtura Corp. (CHMT) said it expects its second-quarter
continuing operations results to fall short of its year-earlier
performance, citing weakness in its industrial-engineered products
division.
Comtech Telecommunications Corp.'s (CMTL) fiscal third-quarter
earnings fell 53% as the maker of advanced communication systems
recorded sales declines in several businesses.
Cooper Cos.'s (COO) fiscal second-quarter earnings rose 37% amid
continued strength at its contact-lens business though currency
fluctuations weighed on revenue growth.
Monsanto Co. (MON) has approved the repurchase of an additional
$2 billion in shares over a three-year period in an effort to
bolster shareholder returns.
Salesforce.com Inc. (CRM) said it has hired former Oracle Corp.
(ORCL) executive Keith Block as its new president and vice
chairman.
SeaChange International Inc.'s (SEAC) fiscal first-quarter loss
narrowed as the video-software company benefited from an easy
comparison to a year-earlier period that was hurt by
divestiture-related losses.
State Street Corp. (STT) has named Michael W. Bell as its new
chief financial officer, ending a search the bank began in
November.
Thor Industries Inc. (THO) fiscal third-quarter earnings rose
5.8% as strong recreational vehicle sales contributed to
double-digit revenue growth.
Write to Anna Prior at anna.prior@dowjones.com
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