Among the companies with shares expected to actively trade in
Thursday's session are Supervalu Inc. (SVU) and Merck & Co.
Inc. (MRK).
Supervalu said it's considering selling all or part of itself as
the supermarket operator struggles to pay off debt and lower prices
to win customers from rivals. The company also reported its fiscal
first-quarter earnings fell 45%. Shares plunged 27% to $3.85
premarket.
Merck plans to close an advanced clinical study of its
osteoporosis drug after an interim analysis showed that the trial
met its primary efficacy goals, and that its benefits outweighed
the risks. Shares jumped 3.8% to $42.77 premarket.
SAP AG's (SAP) operating profit rose 7% year-over-year in the
latest quarter, beating analyst estimates. The German-based
enterprise software maker pre-released the figure as part of its
second-quarter results, which it plans to report in full on July
24. U.S.-listed shares jumped 4.3% to $59.17 in premarket
trade.
India's Infosys Ltd. (INFY, 500209.BY) reported a
lower-than-expected net profit for its fiscal first quarter and cut
its revenue forecast for the year. U.S.-listed shares pf the
software exporter slumped 8.3% to $40 in recent premarket trading.
Peer Cognizant Technology Solutions Corp. (CTSH) was also trading
lower, down 3.5% to $54.55.
ImmunoGen Inc. (IMGN) said it plans to offer an unspecified
number of shares of common stock. Shares of the biotechnology
company dropped 7% to $16.15 premarket.
Watchlist:
Calix Inc. (CALX) cut its second-quarter guidance, pointing to a
slowdown in customer spending. The supplier of broadband
telecommunications equipment pointed to increased economic concerns
and uncertainties surrounding regulatory reform as cause for the
slowdown.
Golf equipment maker Callaway Golf Co. (ELY) said it plans to
cut its workforce by 12% as the golf equipment maker looks to
streamline operations and focus on its core product lines.
Chevron Corp. (CVX) said it expects its second-quarter earnings
to rise from the first quarter boosted by strong profits in its
refining arm, even as it projects to make less money from the sale
of crude oil and natural gas.
Fastenal Co.'s (FAST) second-quarter earnings climbed 19% as the
operator of industrial hardware supply stores booked higher revenue
and continued opening new stores.
Hologic Inc. (HOLX) said its pending $3.7 billion acquisition of
Gen-Probe Inc. (GPRO) is making progress and that Gen-Probe's chief
agreed to stay with the combined company for at least 15 months to
lead its diagnostics business. However, the health-products company
gave downbeat revenue guidance for its fiscal third quarter.
IHS Inc. (IHS) raised its full-year revenue outlook, reflecting
the market-research firm's recent acquisitions.
KB Home (KBH) has initiated a cash tender offer for up to $193.7
million in senior notes, as the home builder seeks to lighten its
debt burden.
Marriott International Inc.'s (MAR) second-quarter earnings rose
5.9% as the hotel-industry bellwether saw growth in group bookings
in the U.S. and foreign travel to Europe, though revenue continued
to slide after a spin-off. The company also raised its full-year
earnings estimate,
New Mountain Finance Corp. (NMFC) said it will offer about 5.3
million shares. The management investment company plans to use
proceeds to acquire units from New Mountain Finance Holdings LLC,
of which it has a 34.6% stake. New Mountain Finance Holdings, in
turn, plans to use proceeds for new investments, payment of debt
and for general corporate purposes.
New York Mortgage Trust Inc. (NYMT) plans to offer about 3.8
million shares as the real estate investment trust looks to raise
funds to acquire mortgage-related and financial assets.
Regis Corp. (RGS) has named Daniel Hanrahan to be the hair-salon
operator's chief executive.
Ryder System Inc. (R) raised its quarterly dividend by 6.9% as
the truck-leasing company seeks to boost shareholder returns.
Sprott Physical Silver Trust (PSLV) said it will use proceeds
from its offering to acquire physical silver bullion but didn't
detail the number of units it planned to offer.
Texas Industries Inc. (TXI) swung to a fiscal fourth-quarter
profit, breaking a 10-quarter streak of losses, as the
construction-materials company recorded improved margins and gains
from asset sales and a joint-venture agreement.
-Write to Mia Lamar at mia.lamar@dowjones.com