U.S. Hot Stocks: Hot Stocks to Watch
August 11 2016 - 9:36AM
Dow Jones News
Among the companies with shares expected to trade actively in
Thursday's session are Kohl's Corp. (KSS), Alibaba Group Holding
Ltd. (BABA) and Macy's Inc. (M).
Kohl's Corp. on Thursday reported a surprise increase in profit
as gross margin expanded in the latest quarter thanks to
inventory-management initiatives. Shares rose 9.15% to $41.52 in
premarket trading.
Alibaba Group Holding Ltd. reported revenue and earnings that
easily topped expectations in the most recent quarter as the
Chinese e-commerce giant continued to add users and drive mobile
sales. Shares rose 6.26% to $92.88 premarket.
Macy's Inc. said it would shut 100 more stores, about 15% of its
store base, the latest move by the retailer as it contends with
falling foot traffic and declining sales. Shares rose 14.5% to
$38.98 premarket.
Blue Buffalo Pet Products Inc. (BUFF) on Wednesday raised its
financial projections for the year as second-quarter results beat
expectations. Shares rose 1.86% to $27.34 premarket.
Blackstone (BX) is exiting shopping center landlord Brixmor
Property Group Inc. (BRX)--which the financial-services giant took
public in 2013--with its latest offering of 42.4 million shares.
The move comes less than two weeks after Blackstone's offer of 30
million BRX shares that raised roughly $828 million.
Chesapeake Energy Corp. (CHK) is exiting the Barnett Shale in
Texas, which will eliminate about $1.9 billion of future
commitments and improve its operating income over the next few
years. The company said it would convey its Barnett interests to
Saddle Barnett Resources LLC, which is backed by private-equity
firm First Reserve Corp. In addition, Chesapeake will pay Williams
Partners LP (WPZ) in connection with the termination of a gathering
agreement in the Mid-Continent area.
Shake Shack Inc's (SHAK) same-store sales growth decelerated in
the second quarter, as the restaurant sector continues to show
signs of weakening.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
August 11, 2016 09:21 ET (13:21 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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