Among the companies with shares expected to actively trade in
Friday's session are Marvell Technology Group Ltd. (MRVL), Ann Inc.
(ANN) and Foot Locker Inc. (FL).
Marvell reported disappointing quarterly results and guidance as
the chip maker suffered from weaker PC and smartphone demand and
heightened competition in the Chinese phone market. Second-quarter
results fell short of company estimates, while guidance for the
current period was weaker than analysts had anticipated. Shares
tumbled 9.7% to $11.09 in premarket trade.
Ann's fiscal second-quarter earnings jumped a
better-than-expected 24% as the women's retailer benefited from
across-the-board sales growth. Shares surged 11% to $31.30 in
premarket trading as the company also lifted its view for the
year.
Foot Locker's second-quarter profit jumped 59% as the athletic
apparel and footwear chain saw its same-store sales pop, while
margins also increased. Shares climbed 6.1% to $36.60 in premarket
trading as results comfortably beat Wall Street expectations.
A Texas jury found geophysical services company ION Geophysical
Corp. (IO) "willfully infringed" upon patents held by a rival unit
of Schlumberger Ltd. (SLB), awarding $105.9 million in damages as a
result. ION Chief Executive Brian Hanson said the company intends
to challenge the ruling and "does not expect the ultimate outcome
of this lawsuit to impact our ability to conduct business." Shares
slumped 15% to $6.61 in premarket trade.
Jefferies cut its rating on Vivus Inc. (VVUS) to underperform
from hold, citing concerns that physicians will prescribe a
combination of two generic drugs in lieu of the company's newly
approved weight-loss drug Qsymia. It also said it believes the
company's defense against that risk--that physicians face increased
liability--has been "overstated." Shares fell 6.6% to $21.27 in
premarket trading.
DryShips Inc.'s (DRYS) second-quarter loss narrowed as revenue
improved and vessel-impairment expenses weighed on year-ago
results. However, shares fell 4.3% to $2.21 as results missed
analyst expectations.
Ares Capital Corp. (ARCC) said it plans to offer 19 million
shares in an effort to pay down debt and raise funds for general
purposes, including investments in portfolio companies. The
specialty finance company's shares were down 3.6% to $16.80
premarket.
PennyMac Mortgage Investment Trust (PMT) is offering 12 million
shares, intending to use the proceeds in part to buy residential
mortgages. The real estate investment trust's shares fell 4.1% to
$20.90 premarket.
Watchlist:
Aeropostale Inc.'s(ARO) fiscal second-quarter earnings sank 98%
as the youth-focused retailer's expenses increased and as a
one-time gain boosted the company's year-ago results. The company
also gave a weak outlook for the current quarter, citing a soft
start to the key back-to-school selling season.
America's Car-Mart Inc.'s (CRMT) fiscal first-quarter profit
edged down 2% as the used-car seller set aside more for credit
losses, masking an increase in sales. Earnings missed Wall Street
estimates.
Avago Technologies Ltd.'s (AVGO) fiscal third-quarter income
grew 0.7%, aided by lower operating costs and slightly higher
revenue. However, the chip predicted downbeat fourth-quarter
revenue.
Boardwalk Pipeline Partners LP (BWP) and its general partner
have agreed to acquire PL Midstream LLC from PL Logistics LLC for
$625 million in cash, as the oil and gas transporter company looks
to diversify into industries that complement its core natural gas
pipeline and storage businesses.
Brocade Communications Systems Inc. (BRCD) said its chief
executive is resigning after a seven-year tenure, as it reported
that its fiscal third-quarter profit surged.
Fair Isaac Corp. (FICO) agreed to acquire risk-management
software firm Adeptra Ltd. for $115 million in cash, giving the
creator of the FICO credit score more offerings in
business-management services.
Gap Inc.'s (GPS) fiscal second-quarter earnings rose a
better-than-expected 29% as the casual-apparel retailer reported
stronger sales in North America and improved margins. The company
also again raised its full-year earnings view.
Gardner Denver Inc. (GDI) said it will cut jobs and consolidate
manufacturing facilities, as it restructures its European
operations in an effort to reduce expenses and increase
efficiency.
New York & Co.'s (NWY) fiscal second-quarter loss narrowed
as the women's apparel retailer saw input costs shrink
significantly, masking a slight drop in revenue and boosting
margins.
Plains All American Pipeline LP (PAA) said its board has
approved a two-for-one unit split, joining a growing list of
companies that have stepped up shareholder-friendly initiatives to
attract new investors.
Moody's Investors Service upgraded insurer Unum Group (UNM)
further into investment-grade territory Thursday, saying the
company's credit profile has strengthened over the past few years
and has proven to be sustainable.
-Write to Nathalie Tadena at nathalie.tadena@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires