Among the companies with shares expected to actively trade in
Tuesday's session are RadioShack Corp. (RSH) and Vipshop Holdings
Ltd. (VIPS).
RadioShack Corp. (RSH) said Tuesday that it expects to close up
to 1,100 U.S. stores, or about 20% of its footprint, while also
reporting its fourth-quarter loss widened significantly. Shares
dropped premarket as the struggling electronics retailer's results
were considerably worse than market expectations. Shares fell 24%
to $2.08 premarket.
Vipshop Holdings Ltd.'s (VIPS) fourth-quarter earnings more than
tripled as the Chinese online discount retailer's margins and
revenue continued to improve. The company's adjusted fourth-quarter
earnings and its first-quarter revenue guidance topped Wall
Street's expectations. Shares rose 22% to $156 premarket.
AutoZone Inc. (AZO) said its fiscal second-quarter earnings rose
9.4% on revenue growth and stronger margins despite severe winter
weather in the U.S. Results beat expectations, pushing shares up
1.8% to $551 premarket.
Guidewire Software Inc. (GWRE) swung to a loss in its fiscal
second quarter as the provider of software to the insurance
industry reported higher costs and expenses, which masked an
increase in revenue. Shares rose 5.3% to $55.99 premarket.
MBIA Inc. (MBI) said its fourth-quarter earnings fell 79% on
lower mark-to-market derivatives-related gains and a decline in
premiums. Shares rose 4% to $13.85 premarket.
McDermott International Inc. (MDR) said it is withdrawing its
financial guidance while the engineering and construction company
implements some organizational changes and closes out legacy
projects. The company also reported swinging to a steep loss for
the fourth quarter. Shares fell 9.4% to $7.35 premarket.
Qualcomm Inc.'s (QCOM) board approved a $5 billion increase to
its share repurchase plan and a 20% dividend boost, as the San
Diego-based chip maker sought to reward shareholders. The share
buyback plan now has a total authorization of $7.8 billion. The
company's market value is about $124.5 billion, according to
FactSet. Shares rose 2.3% to $75.30 premarket.
Starwood Hotels & Resorts Worldwide Inc. (HOT) said Tuesday
that it plans to open more than 60 hotels and resorts in Europe by
2020, boosting its portfolio on the continent by about 40%. The
company, which opened seven hotels in Europe last year, said it
would open nine hotels there this year, mainly in high-growth
markets such as Turkey and Russia. Shares fell 26 cents to $80.46
premarket.
Biopharmaceutical firm Synta Pharmaceuticals Corp. (SNTA) said
its chief executive, president and board member Safi R. Bahcall has
resigned from his positions and has been replaced by an executive
committee of the board until a new CEO is named. Shares rose 2.9%
to $15.16 premarket.
Trina Solar Ltd. (TSL) said it swung to a profit in its fourth
quarter, bolstered by a surge in revenue and a drop in operating
expenses. Revenue, meanwhile, rose 74% to $525.6 million compared
to the year-ago period, driven by growing demand, particularly from
Japan and China. Shares rose 2.9% to $15.18 premarket.
Stock Offerings:
Clinical-stage biopharmaceutical company BioLineRx Ltd. (BLRX)
has commenced an underwritten public offering of its American
depositary shares. ADSs fell 18% to $2.39 premarket.
Mandalay Digital Group Inc. (MNDL) said it plans to commence a
public offering of its common stock and to use the net proceeds for
general corporate purposes, including working capital, operations
and potential acquisitions. Shares fell 9.1% to $4.18
premarket.
Watch List:
Ascena Retail Group Inc. (ASNA) said its fiscal second-quarter
earnings fell 15% mostly on a steep drop in profit at its Justice
brand and increased operating expenses related to growth efforts.
For the year, the company again lowered its per-share earnings
estimate.
E.W. Scripps Co. (SSP) said its fourth-quarter earnings
plummeted 71% as the newspaper and television company continued to
suffer from a lack of political television advertisements in an
off-election year. Yet the company expects its core business to
return to growth in the second half of the year with renewed
strength in political advertising, said Chief Executive Rich Boehne
Tuesday. The top line slightly beat expectations.
URS Corp.'s (URS) fourth-quarter profit dropped 73% as the
construction and engineering company's revenue slipped. In
February, the company had lowered its outlook for 2013 earnings,
citing execution issues in its new oil-and-gas division, as well as
project delays.
Write to Anna Prior at anna.prior@wsj.com
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