Among the companies with shares expected to actively trade in
Wednesday's session are Priceline.com Inc. (PCLN), Dean Foods Co.
(DF) and Ralph Lauren Corp (RL).
Shares of online travel agencies fell in premarket trading as
Priceline.com's growth slowed markedly in the second quarter, with
a surprisingly downbeat outlook underscoring how its robust gains
in the European hotel market are falling prey to economic
uncertainty. Priceline.com shares sank 15% to $577. Meanwhile,
shares of Orbitz Worldwide Inc. (OWW) fell 12% to $4.10 after
second-quarter results missed expectations and third-quarter
revenue guidance also below estimates. The company's chief
executive said the outlook is tinged by global economic uncertainty
that intensified into the third-quarter. Competitor Expedia Inc.
(EXPE) was off 3.7% to $56.70 premarket.
Dean Foods swung to a profit in the second quarter and said it
would spin off a fast-growing unit that sells Horizon Organic dairy
products and Silk soy milk. Shares surged 28% to $15.89 in
premarket trading.
Shares of Ralph Lauren slid premarket as the premium-brand
clothing maker's reported higher inventories and a decline in
margins for the fiscal first-quarter. Wholesale revenue for Europe
fell at a double-digit rate while the company saw growth of that
size in North America. The company reiterated its fiscal year
outlook, despite first-quarter results topping expectations, and
projected a surprise second-quarter revenue decline amid an
anticipated double-digit drop on the whole sale side. Shares fell
5.6% to $144.44.
Rackspace Hosting Inc.'s (RAX) second-quarter profit rose 43% on
surging revenue in its public-cloud business, easing concerns that
the rollout of a new information-management system might interrupt
the data-center provider's historically robust growth. Shares
jumped 13% to $55.50 premarket as revenue topped expectations.
McDonald's Corp.'s (MCD) global same-store sales were flat in
July as the fast-food chain posted declining sales across all three
of its regions. Analysts expected growth of 2.3% according to
Consensus Metrix, but McDonald's had warned last month that softer
sales trends that began in the second-quarter were continuing. The
weaker-than-expected results sent shares down 3.3% to $86.10
premarket.
Macy's Inc.'s (M) second-quarter profit surged 16% as the
department store saw revenue, and particularly online sales, rise.
Shares rose 3% to $38.10 premarket as the retailer raised its
full-year earnings guidance.
Shares of MEMC Electronic Materials Inc. (WFR), which designs
and develops silicon wafer technologies in the U.S., Europe and
Asia, surged 33% to $2.73 in premarket trading as second-quarter
adjusted earnings and revenue smashed expectations.
Exact Sciences Corp. (EXAS) plans to offer and sell an
undisclosed number of shares, subject to market conditions. Shares
of the molecular diagnostic company slid 3.8% to $9.90
premarket.
Shares of Given Imaging Ltd. (GIVN) sank 17% to $12.49 premarket
as the company said it expects 2012 earnings per share to be closer
to the lower range of guidance and cut its yearly revenue
outlook.
Express Scripts Holding Co.'s (ESRX) second-quarter earnings
fell 49% as the pharmacy-benefit manager absorbed acquisition
costs, but results topped Wall Street expectations and helped fuel
a stronger forecast for the full year. Shares were up 6.2% at
$59.50 in premarket trading.
EZchip Semiconductor Ltd. (EZCH) said it expects second half
revenue to be lower than it had anticipated, with a "significant
sequential revenue decline expected in the third quarter." Shares
fell 15% to $33.15 premarket.
Warner Chilcott PLC (WCRX) said it has ceased discussions
regarding potential offers for the company as it also unveiled a
series of shareholder-friendly moves, including a special dividend.
Shares sank 6% to $16.71 premarket.
Genetic Technologies Ltd. (GENE, GTG) shares rose premarket 14%
to $3.75 as the genetic testing company said that it has received
European CE Mark approval for BREVAGen, the company's breat cancer
risk test. The designation will allow the test to be sold in the
European Union and other countries that recognise the CE Mark. The
initial commercial focus will be in France and Germany.
Cleantech Solutions International Inc. (CLNT), a China-based
manufacturer of metal components and assemblies used in alternative
energy sources like wind and solar power, said it received a new
purchase order, valued at about $1.8 million, to supply 21 units of
airflow dyeing machines and related components to a domestic
customer. Shares rose 16% to $2.55 premarket.
Williams Partners L.P. (WPZ) said it plans to offer 8.5 million
units representing limited-partner interests, intending to use the
proceeds in part to repay debt. Units slid 4.2% to $50.85 in
premarket trading.
Watch List:
Aircastle Ltd. (AYR) said funds managed by affiliates of
Fortress Investment Group LLC are offering 9.25 million shares.
Babcock & Wilcox Co.'s (BWC) second-quarter earnings rose
39% as the power-plant technology company recorded stronger
revenue, driven by growth at its power generation segment.
Buckeye Technologies Inc.'s (BKI) fiscal fourth-quarter profit
rose 66% compared with the year-earlier quarter, hobbled by a
write-down even as revenue decreased.
Cree Inc.'s (CREE) fiscal fourth-quarter profit fell 49% as the
energy-efficient light maker's overhead costs continued to climb,
masking revenue growth.
CSG Systems International Inc.'s (CSGS) second-quarter earnings
rose 32% as revenue and margins improved. Results beat analyst
expectations and as the company raised its full-year guidance.
Encore Capital Group Inc. (ECPG) said shareholders affiliated
with two board members intend to offer a total of 1.21 million
shares.
Energy Transfer Partners L.P.'s (ETP) second-quarter profit fell
25% as the pipeline operator reported lower revenue from natural
gas. The owner of its general partner, Energy Transfer Equity L.P.
(ETE), reported 19% lower earnings due to higher debt expenses
following a major acquisition.
G-III Apparel Group Ltd. (GIII) has acquired privately-owned
luxury resort brand Vilebrequin for EUR85.5 million, or about
$106.2 million, as the apparel company looks to expand its
offerings and global footprint.
Kilroy Realty Corp. (KRC) has commenced a public offering of 4.5
million shares, planning to contribute the proceeds to the
company's operating partnership for purposes that may include
acquiring properties and paying down debt.
Software provider Kenexa Corp.'s (KNXA) second-quarter loss
widened slightly as operating expenses increased, though adjusted
profit and revenue beat the company's expectations. The company
also raised its full-year guidance.
Live Nation Entertainment Inc.'s (LYV) second-quarter earnings
fell 42% as the live-event promoter saw concert and artist
marketing revenue decline, offsetting higher ticketing sales.
MYR Group Inc.'s (MYRG) second-quarter profit surged as the
company booked new contracts for the transmission industry. The
company also said that its board has authorized a plan to buy back
as much as $20 million in shares.
Renren Inc. (RENN) swung to a second-quarter loss as the Chinese
social-networking company's surge in expenses outpaced
better-than-expected revenue growth. The company issued downbeat
revenue guidance for the current quarter.
Sotheby's (BID) second-quarter earnings fell 33% as the
auctioneer saw a decrease in net auction sales in the typically
strong quarter. Results missed expectations.
Suburban Propane Partners L.P. (SPH) said it plans to sell 6.3
million units representing limited-partner interests.
URS Corp.'s (URS) second-quarter earnings fell 20% on charges
related to its recent Flint Energy Services Ltd. acquisition.
Adjusted profit and revenue beat expectations.
Verisk Analytics Inc. (VRSK) has agreed to acquire Argus
Information & Advisory Services LLC for $425 million, a deal
that will enhance the insurance-risk company's position as a
provider of data to the financial services industry.
Walt Disney Co.'s (DIS) fiscal third-quarter earnings rose a
better-than-expected 24% as the company continued to see stronger
profits from its media networks and theme parks divisions, and as
the superhero action film "The Avengers" boosted
studio-entertainment results.
Westar Energy Inc.'s (WR) second-quarter earnings rose 42% as
the utility company's revenue improved, helped by price increases
and higher energy sales resulting from warmer weather.
Willbros Group Inc. (WG) swung to a second-quarter profit on
gains from discontinued operations and rising revenue. But
following delays on two projects and execution problems on two
others, the engineering-and-construction company's operating profit
fell short of its previous outlook.
XL Group PLC's (XL) second-quarter profit edged down 2% as the
property-and-casualty insurer logged heavier expenses, even as it
earned more from premiums.
Write to Anna Prior at anna.prior@dowjones.com
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