Among the companies with shares expected to actively trade in
Thursday's session are Lululemon Athletica Inc. (LULU), Restoration
Hardware Holdings Inc. (RH) and Geron Corp. (GERN).
Lululemon lowered its outlook for the year, as the maker of
high-end yoga gear also reported a drop in profit for the fiscal
first quarter amid a tax charge tied to a share-repurchase plan.
The retailer also issued a second-quarter forecast that fell short
of Wall Street's expectations. Shares fell 15% to $37.80
premarket.
Restoration Hardware reported better-than-expected first-quarter
results and raised its year outlook, as the retailer of luxury home
goods benefited from a shift in its retail strategy and an
improving housing market. Shares rose 17% to $83.40 premarket.
Geron said the U.S. Food and Drug Administration has lifted a
partial clinical hold on the firm's myelofibrosis treatment after
an investigator at the Mayo Clinic concluded that the trial can
continue. However, the company's investigational new-drug
application remains on full clinical hold, meaning trial activity
as part of that process remains halted. Still, shares jumped 33% to
$3.45 premarket.
Independent refiner PBF Energy Inc. (PBF) announced a secondary
offering of 18 million shares by funds affiliated with Blackstone
Group LP (BX) and First Reserve Management LP. Shares of PBF Energy
fell 4.3% to $30.04 in premarket trading.
Watchlist:
Alaska Air Group Inc. (ALK) said it is planning a 2-for-1 stock
split next month. Shares have tripled since the company's prior
split two years ago amid broad sharp gains for airline stocks on
signs of consistent profitability.
Amazon.com Inc. (AMZN) rolled out a music-streaming service,
with some limitations. The service, available only to members of
Amazon's $99-per-year Prime membership program in the U.S., offers
about one million tracks from thousands of albums, the company
said. But it doesn't include songs from Vivendi SA's Universal
Music Group, the largest label, and tracks from Warner Music Group
and Sony Corp. will generally be more than six months old.
American Realty Capital Properties Inc. (ARCP) said it had
finalized a deal to sell its multitenant shopping center portfolio
for $1.975 billion in cash to a joint venture including a
Blackstone affiliate and DDR Corp.
Bebe Stores Inc. (BEBE) said Chief Executive Steve Birkhold
resigned and the board named Jim Wiggett, who has been advising the
struggling retailer, as interim CEO. The women's apparel and
accessories retailer plans to begin the search for a permanent
successor.
Telecommunications products company CommScope Holding Co. (COMM)
said Wednesday that Carlyle Group LP (CG) will sell 15 million
CommScope shares, one of several recent announcements of Carlyle
stock sales.
C.R. Bard Inc. (BCR) said its board raised the medical-device
maker's quarterly dividend by 4.8% and authorized the repurchase of
up to an additional $500 million of its stock.
GlaxoSmithKline PLC (GSK, GSK.LN) and Pfizer Inc. (PFE) on
Thursday said they will collaborate with Belgium's Janssen
Pharmaceutica N.V. to develop and commercialize a new treatment for
HIV.
Lands' End Inc. (LE) said in its first earnings release since it
was spun off from Sears Holding Corp. (SHLD) in April that its
fiscal first-quarter profit rose nearly 50% on higher revenue and
margins.
Warner Bros.' consumer products division and Mattel Inc. (MAT)
have agreed to extend their 15-year partnership to broaden toy
offerings based on DC Comics characters such as Batman and
Superman, the companies said.
Standard & Poor's Ratings Services and Fitch Ratings
downgraded PPL Energy after parent company PPL Corp. (PPL) said it
would spin off the power-generation business to its
shareholders.
Scotts Miracle-Gro Co. (SMG) said the delay of the spring season
will hurt its sales for the year. The lawn-and-garden-products
company said it now expects sales to be in line with results from
fiscal 2013, when it posted sales of $2.82 billion. As of February,
Scotts Miracle-Gro projected a 2% to 3% sales increase.
Tibco Software Inc. (TIBX) shareholder Praesidium Investment
Management Co. said it seeks "constructive dialogue" with the
provider of infrastructure and business intelligence software.
Praesidium owns about 5.5 million shares of Tibco, slightly more
than a 3% stake.
Write to Maria Armental at maria.armental@wsj.com and Anna Prior
at anna.prior@wsj.com
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