Among the companies with shares expected to actively trade in
Tuesday's session are RadioShack Corp. (RSH), Francesca's Holdings
Corp. (FRAN) and Achillion Pharmaceuticals Inc. (ACHN).
RadioShack said its fiscal first-quarter loss widened as the
struggling retailer continued to burn through cash and suffer a
decline in consumer electronics demand. The results were worse than
analysts had projected; same-stores sales plunged 14% and customer
traffic flagged. Shares fell 15% to $1.31 premarket.
Francesca's Holdings outlined plans to dispose of a significant
amount of slow-moving inventory as the clothing and accessories
retailer gave cautious targets for the current quarter and reduced
its outlook for the year. Shares fell 8.3% to $14.01 premarket.
Achillion Pharmaceuticals said Tuesday the U.S. Food and Drug
Administration has removed the clinical hold on sovaprevir, the
company's experimental hepatitis C treatment. Shares climbed 35% to
$5.75 premarket.
Allergan Inc. (AGN) said its board has rejected the latest
takeover bid from Valeant Pharmaceuticals International Inc. (VRX,
VRX.T) and William Ackman's Pershing Square Capital Management LP,
saying the offer substantially undervalues the Botox maker.
Allergan shares fell 1.3% to $162 premarket.
Burlington Stores Inc. (BURL) swung to a fiscal first-quarter
profit, as the clothing retailer's revenue improved. Adjusted
earnings topped expectations. Shares rose 4.7% to $29.50
premarket.
Casey's General Stores Inc. said (CASY) profit fell in the
latest quarter on costs tied to the convenience-store chain's
expansion plan, which offset an increase in revenue. Shares fell
3.1% to $72.49 premarket.
Christopher & Banks Corp. (CBK) said its fiscal
first-quarter profit more than quadrupled as lower costs and
expenses offset a drop in sales. Shares rose 8.1% to $7.19
premarket.
Covanta Holding Corp. (CVA), an operator of waste-to-energy
facilities, said it would reduce its workforce as part of a plan to
cut expenses and raise its quarterly dividend by 39%. Shares rose
7% to $20.66 premarket.
Entropic Communications Inc. (ENTR) said it will close several
of its global facilities in an effort to improve efficiencies and
reduce costs. The provider of semiconductor products used for video
and broadband purposes also lowered its second-quarter financial
outlook. Shares rose 3.9% to $3.50 premarket.
Five Below Inc. (FIVE) said Tuesday that Joel Anderson, the
chief executive of Walmart.com in the U.S., will become president
of the teen-focused discount retailer next month. Shares rose 2% to
$36.13 premarket.
ON Semiconductor Corp. (ONNN) has agreed to buy Aptina Imaging
for about $400 million in cash, a deal that would expand ON's
presence in the automotive and industrial semiconductor markets.
The deal is expected to close in the third quarter. ON
Semiconductor shares rose 1.3% to $9.10 premarket.
Pep Boys-Manny Moe & Jack (PBY) reported a sharp drop in
first-quarter profit as low tire prices continued to hurt the
auto-care company. Operating profit, however, jumped by 72%. Shares
rose 3% to $10.84 premarket.
Receptos Inc. (RCPT) reported favorable Phase 2 clinical-trial
results for its lead product candidate in a study of patients with
relapsing multiple sclerosis. Phase 3 of the Radiance trial began
in December. Shares rose 28% to $37.39 premarket.
Watchlist:
Best Buy Co. (BBY) on Tuesday said its board approved a 12%
increase to the big-box electronics chain's quarterly dividend.
FedEx Corp. (FDX) raised its quarterly dividend by a nickel to
20 cents, marking the fifth straight year in which the delivery
company has increased its payout to shareholders.
Ford Motor Co. (F) and H.J. Heinz Co. are researching the use of
tomato fibers to develop a more sustainable composite material in
car manufacturing.
Science Applications International Corp. (SAIC) said its fiscal
first-quarter earnings rose slightly as costs declined, but revenue
tumbled as the government contractor again reported declines in
defense spending. Earnings topped expectations, while the top line
fell short.
Write to Maria Armental at maria.armental@wsj.com and
Tess.Stynes at tess.stynes@wsj.com
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