Among the companies with shares expected to actively trade in
Wednesday's session are Amazon.com Inc. (AMZN), Copano Energy LLC
(CPNO) and Chesapeake Energy Corp. (CHK).
Amazon.com posted a 45% drop in earnings in the fourth quarter,
but some other measures of the online retailer's profitability came
as a positive surprise. The company said revenue rose 22% in its
crucial holiday selling season, as more consumers turn to its sites
for speedy shipping and lower prices on many items. Operating
income rose 56% and gross margin widened. Shares were up 8.4% to
$282.15 premarket.
Kinder Morgan Energy Partners LP (KMP) agreed to acquire Copano
Energy in a roughly $3.72 billion deal as the pipeline company
looks to expand its midstream services. Kinder Morgan Energy said
it will swap 0.4563 of a unit for each Copano unit, valuing Copano
units at $40.91 each and marking a premium of almost 24% over
Tuesday's close. Copano shares rose 19% to $39.25 premarket.
Chesapeake Energy said its co-founder and chief executive,
Aubrey McClendon, will step down April 1, bowing out after a
lengthy battle with investors and a revamped board that sought to
rein in the trailblazing executive. Shares jumped 11% to $20.98
premarket.
Brazil's state-run oil company Petroleo Brasileiro SA (PBR,
PETR3.BR, PETR4.BR), commonly called Petrobras, will increase
gasoline and diesel prices starting Jan. 30, the company said in a
statement late Tuesday. Still, the increase it isn't high enough to
stem worries about losses from expensive imports. The 6.6% hike for
gasoline still leaves prices 13% below international prices, while
the market was looking for a 7-10% hike, said Credit Suisse.
American depositary shares fell 4.2% to $18.68 premarket.
Gambling-machine maker Multimedia Games Holding Co. Inc. (MGAM)
reported a big fiscal first-quarter beat , prompting a raise to the
year's forecasts as new units sold surged 58%. Revenue for the
period was the company's highest since early 2006 and the company
is poised for more growth. Shares rose 16% to $16.52 premarket.
BioClinica Inc. (BIOC), a provider of clinical-trial-management
services, said it has entered into a definitive agreement to be
acquired by private-equity firm JLL Partners Inc. Following the
merger, BioClinica will be merged with another JLL acquisition,
medical-imaging company CoreLab Partners Inc. BioClinica said JLL
will commence a cash tender offer to purchase all of BioClinica's
common stock at an offer price of $7.25 a share, which results in
an equity value of about $123 million. BioClinica shares jumped 19%
to $7.20 premarket.
The U.S. Food and Drug Administration on Tuesday approved a drug
called Kynamro that will be marketed by marketed by Sanofi's (SNY,
SNY.FR) Genzyme unit to treat rare disease that causes very high
cholesterol. The drug is also known by its generic name,
mipomersen, and was developed by Isis Pharmaceuticals Inc. (ISIS),
which saw shares rise 9.1% to $14.60 premarket.
Unisys Corp.'s (UIS) fourth-quarter income fell 13% as the
information-technology company recorded heavy pension-related
charges, though core earnings improved. The results easily beat
analysts' expectations, and shares jumped 9.7% in premarket trading
to $20.75.
Watchlist:
Ace Ltd.'s (ACE) fourth-quarter earnings rose 4.1% as an
increase in realized gains boosted the insurer's bottom-line
results, though it saw an increase in catastrophe losses as a
result of Hurricane Sandy. The company projected 2013 earnings
below analyst expectations.
Arthur J. Gallagher & Co.'s (AJG) fourth-quarter earnings
fell 17% as the insurance broker and consulting firm reported
higher operating expenses and charges for restructuring and other
items.
Boston Properties Inc.'s (BXP) fourth-quarter profit fell 36% as
the office landlord's expenses rose, masking higher rental
revenue.
Broadcom Corp.'s (BRCM) fourth-quarter profit edged down 1.2% on
one-time charges, masking the chip maker's increasing revenue.
Buckeye Technologies Inc. (BKI) swung to a fiscal second-quarter
profit as an insurance benefit boosted the company's results,
though earnings were weaker than expected.
Dolby Laboratories Inc.'s (DLB) fiscal first-quarter earnings
fell 30% as the audio company's operating margin came under
pressure. The company's results beat expectations.
Freescale Semiconductor Ltd.'s (FSL) fourth-quarter loss widened
as the chip maker recorded sales declines across several markets,
including automotives. However, for the current quarter, Freescale
projected sales above analyst estimates.
Intuit Inc. (INTU) said a federal court has denied
tax-preparation company H&R Block Inc.'s (HRB) effort to pull
two of the financial software provider's TurboTax television
advertisements, which H&R Block claimed were misleading.
Jones Lang LaSalle Inc.'s (JLL) fourth-quarter earnings rose 26%
amid broad revenue growth and lower restructuring- and
integration-related charges as well as other items.
Keryx Biopharmaceuticals Inc. (KERX) is offering $55 million in
shares and plans to use net proceeds to build inventory and conduct
commercial activities related to Zerenex and for other general
corporate purposes. According to FactSet, the company has a market
capitalization of $436 million.
Key Tronic Corp.'s (KTCC) fiscal second-quarter profit rose 13%
as sales continued to increase, but the manufacturer said a
customer's lower demand has slowed revenue growth.
NewLink Genetics Corp. (NLNK) intends to publicly offer an
undisclosed amount of shares, the proceeds of which would go to
general corporate purposes. The biopharmaceutical company had about
20.9 million shares outstanding as of Sept. 30.
Parexel International Corp.'s (PRXL) fiscal second-quarter
earnings rose 65% on higher sales and the drug and biotechnology
services company raised its full-year guidance. Results beat the
company's expectations.
Qiagen NV (QGEN, QIA.XE) swung to a fourth-quarter profit as the
medical-testing technologies provider benefited from lower
integration and other operating costs, along with higher sales.
Robert Half International Inc.'s (RHI) fourth-quarter earnings
rose 39% as the temporary-staffing company continued to post broad
revenue growth.
Ryland Group Inc.'s (RYL) fourth-quarter profit soared as the
home building and mortgage-finance company saw new orders and
improved housing margins boost revenue. Results easily beat
expectations.
Flash memory-chip maker Spansion Inc. (CODE) swung to a
fourth-quarter profit as margins sharply improved, however the
company offered downbeat guidance for the current quarter. The
latest period's results missed analyst expectations and the company
said it could post an adjusted loss in the first quarter, while
Wall Street was modeling for a profit.
Ventrus Biosciences Inc. (VTUS) said it is offering to sell
common stock, but didn't provide further details about the
offering. The pharmaceutical company that focuses on developing
drugs for anal disorders had about 12.9 million shares outstanding
as of Nov. 9.
Vertex Pharmaceuticals Inc. (VRTX) swung to a fourth-quarter
loss as revenues from its hepatitis C drug Incivek slumped on lower
demand.
Websense Inc.'s (WBSN) fourth-quarter earnings fell 63% as the
security technology vendor's operating expenses increased, and
sales declined slightly. The company's guidance for the current
quarter missed analyst expectations.
Write to Anna Prior at anna.prior@dowjones.com
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