Among the companies with shares expected to actively trade in
Thursday's session are H.J. Heinz Co. (HNZ), Constellation Brands
Inc. (STZ) and Whole Foods Market Inc. (WFM).
Heinz agreed to be acquired by Berkshire Hathaway Inc. (BRKA,
BRKB) and 3G Capital for more than $23 billion. Under the terms of
the deal, which has been unanimously approved by Heinz's board,
shareholders will receive $72.50 in cash for each share, a 20%
premium to Wednesday's close. Shares of Heinz, which has been
trading at all-time highs, were up 20% at $72.56 premarket.
Anheuser-Busch InBev NV (BUD, ABI.BT) and Constellation Brands
agreed Thursday on revised terms for the Grupo Modelo SAB
(GMODELO.MX) transaction. Anheuser-Busch agreed to give up key U.S.
assets and beer licenses of Grupo Modelo worth $4.75 billion to
fend off U.S. antitrust regulators and push through its $20.1
billion takeover of the Mexican brewer. Constellation Brands shares
jumped 31% to $41.65 premarket, while Anheuser-Busch rose 5.5% to
$93.12.
Whole Foods Market's fiscal first-quarter profit rose 24% as the
supermarket chain's same-store sales continued to rise and margins
grew. But shares dropped 6.6% premarket, to $90.50, as the company
projected weaker sales and margins for the rest of 2013.
CenturyLink Inc. (CTL) announced a shift in its capital
allocation that slashes its dividend and brings pressure on its
debt ratings because of a higher risk of default. Shares of
CenturyLink, the third-largest landline provider in the U.S.,
tumbled 17% to $34.48 premarket as firms that evaluate debt raised
concerns that the company may spend more money on buybacks than it
saves from cutting its dividend.
Angie's List Inc. (ANGI) swung to a surprise fourth-quarter
profit as increases in the online review site's expenses moderated
and revenue continued to climb. Shares rose 28% to $17.45 in
premarket trading as the company also projected first-quarter
revenue above expectations.
Itron Inc. (ITRI) swung to a fourth-quarter profit absent
restructuring charges, though revenue declined. Shares fell 13%
premarket to $41.75 as the company's revenue beat expectations, but
adjusted earnings fell short. Itron also gave a weak full-year
forecast.
J2 Global Inc.'s (JCOM) fourth-quarter profit edged up 1.3% as
the cloud-based services provider's revenue jumped, offset in part
by growing expenses. Shares rose 8.3% to $34.49 premarket as
results beat Street expectations, and the company gave an
optimistic full-year view.
Mondelez International Inc. (MDLZ) reported its second straight
disappointing earnings report since spinning off its North American
grocery business as fourth-quarter sales rose less than the company
had forecast because it lowered coffee prices in Europe to keep up
with the competition. Shares slipped 2.7% to $27 premarket.
Nanosphere Inc.'s (NSPH) fourth-quarter loss narrowed, as the
medical diagnostic-test developer reported stronger revenue. It
also unveiled several leadership changes, including a new chief
executive. Shares sank 20% to $2.10 premarket as the company's
customer placements in the latest period missed its expectations
and as it cut its first-quarter placement targets.
Pioneer Natural Resources Co. (PXD) swung to a fourth-quarter
profit on higher revenue and lower impairment costs, although
average prices of oil and natural gas declined. Shares slid 4.5% to
$121 premarket as profit missed analysts' expectations and the
company unveiled a stock offering.
Skechers USA Inc. (SKX) swung to a fourth-quarter profit as the
company reported a broad jump in sales, with particular strength in
women's shoes. Class A shares rose 9.6% in premarket trading to
$21.45 as the results soared above Street expectations.
Weight Watchers International Inc.'s (WTW) fourth-quarter
earnings fell 8.9% amid higher costs as revenue growth in the
weight-management services company's online business was partly
offset by declines in its North American and international meetings
businesses. Shares fell 16% to $45.50 in premarket trading as the
company projected 2013 well below expectations.
Zillow Inc.'s (Z) fourth-quarter earnings slipped 40% as the
real-estate information provider logged an increase in expenses,
masking revenue growth. Shares were up 8.6% to $42.30 premarket as
results were better than expected.
Rosetta Genomics Ltd. (ROSG) said it has received two key U.S.
patent allowances. Shares of the microRNA-based diagnostic products
maker rose 13% to $5.38 premarket.
Watchlist:
Applied Materials Inc. (AMAT), long whipsawed by the chip
industry's business cycles, reported a 71% drop in first-quarter
profit but pointed to signs of a rebound. The company said its
orders in the fiscal quarter for such tools rose more 80% from the
fourth period.
Armour Residential REIT Inc. (ARR) has commenced an offering of
65 million shares as the real-estate investment trust looks to
raise funds to acquire additional agency securities and for general
corporate purposes. The company had 309 million shares outstanding
as of Feb 12.
Avis Budget Group Inc.'s (CAR) fourth-quarter loss narrowed as
the car-rental company reported higher volume in North America and
markets abroad, though the company issued a mixed outlook for the
new year.
Blucora Inc.'s (BCOR) fourth-quarter profit fell 83% as higher
input costs offset revenue growth and as the year-earlier period
benefited from a tax benefit. Still, results beat the company's
estimates.
Cisco Systems Inc.'s (CSCO) fiscal second-quarter earnings
jumped 44% as one-time tax benefits helped offset continued drag
from weaker sales in Europe. The company's management continued to
warn that economic weakness and uncertainty surrounding government
spending could hurt its future performance.
EOG Resources Inc. (EOG) swung to a fourth-quarter loss as the
natural-gas-and-oil producer posted significantly higher impairment
charges, offsetting stronger revenue.
Ingram Micro Inc.'s (IM) fourth-quarter earnings fell 3.4% as
the information-technology company recorded acquisition costs,
masking record revenue.
Kinross Gold Corp.'s (KGC, K.T) fourth-quarter loss widened as
the Toronto-based gold miner booked a heavy impairment charge,
masking a jump in revenue.
Liberty Global Inc.'s (LBTYA, LBTYB) fourth-quarter loss
narrowed as the international cable operator was helped by its
expansion in Europe.
LyondellBasell Industries N.V. (LYB) said shareholders that are
affiliated with Apollo Management Holdings L.P. are offering 25
million shares. The plastics and chemicals company had about 575.3
million shares outstanding as of Feb. 8.
MetLife Inc.'s (MET) fourth-quarter net income fell 87% to $127
million as the company recorded substantial losses tied to its
derivative portfolio, but operating results exceeded the guidance
the company gave to investors two months ago.
NetApp Inc.'s (NTAP) fiscal third-quarter earnings jumped 32% as
the data-storage firm's smaller software and services segments made
up for a slight decline in product sales.
Nielsen Holdings N.V. (NLSN) said certain shareholders have
launched an offering of 35 million shares. The information and
measurement company had about 362.7 million shares outstanding as
of Dec. 31.
Nvidia Corp.'s (NVDA) fiscal fourth-quarter profit jumped a
bigger-than-expected 50% as the company reported stronger sales of
chips for mobile devices.
Prudential Financial Inc. (PRU) has promoted Robert Falzon to
Executive Vice President and Chief Financial Officer, succeeding
the retiring Rich Carbone, effective March 4.
Taubman Centers Inc.'s (TCO) fourth-quarter earnings slipped 81%
as an accounting gain from debt extinguishment boosted the
luxury-mall owner's year-ago results, though rents and tenant
occupancy continued to improve in the latest period.
Universal Forest Products Inc.'s (UFPI) fourth-quarter loss
widened as the wood-products and construction materials company
recorded higher input costs, masking improved sales across its
segments.
The parent of American Airlines and US Airways Group Inc. (LCC)
on Thursday formally announced plans to merge and create the
world's largest carrier. AMR Corp. (AAMRQ) creditors would own 72%
of the combined airline under the terms of the all-stock proposal,
and US Airways shareholders the balance.
ValueClick Inc.'s (VCLK) fourth-quarter earnings rose 23% as the
Internet advertising company's revenue and margins strengthened.
Earnings topped the company's forecasts and the company issued
first-quarter guidance mostly above analyst expectations.
Write to Anna Prior at anna.prior@dowjones.com
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