Among the companies with shares expected to actively trade in
Tuesday's session are Herbalife Ltd. (HLF), Health Management
Associates Inc. (HMA) and fertilizer companies.
Herbalife's second-quarter profit rose 8.5% as the
nutritional-supplements maker recorded double-digit sales growth.
Shares jumped 7.1% to $64.85 premarket as results topped
Herbalife's expectations and the company lifted its full-year
guidance.
Health Management Associates agreed to be acquired by Community
Health Systems Inc. (CYH) for about $3.9 billion in cash and
stock--at a per-share price below its current market value--after a
months-long battle with its largest shareholder and a review of its
strategic options. HMA shares fell 7% to $13.88 premarket, while
Community Health shares rose 2.4% to $6.71.
Fertilizer companies, mainly those in the potash business, were
hit hard premarket after Russian fertilizer company Uralkali
suggested potash prices could fall to $300 a ton by year-end.
Potash Corp. (POT) just last week cut its outlook for the rest of
the year after weaker second-quarter results, and said it was hurt
by competition and falling potash prices. Potash shares fell 27% to
$27.82 premarket, while The Mosaic Co. (MOS) fell 30% to $37.00,
Intrepid Potash Inc. (IPI) fell 25% to $14.55, Agrium Inc. (AGU)
dropped 10% to $82.00 and Monsanto Co. (MON) slid 2.9% to
$98.66.
Drug developer Array BioPharma Inc. (ARRY) said it will receive
up to $387 million in upfront and potential milestone payments
under a new collaboration with Celgene Corp. (CELG) for an
Array-invented preclinical development program targeting an
inflammation pathway. Array shares jumped 7.8% to $6.75
premarket.
Coach Inc. (COH) agreed to sell its Reed Krakoff business to a
group led by Reed Krakoff and reported its fiscal fourth-quarter
earnings fell 12% amid weaker North American same-store sales.
Shares slipped 6.2% to $54.27 premarket as revenue came in just
below analysts' estimates.
Gigamon Inc.'s (GIMO) better-than-expected second-quarter
results, the first quarterly report the networking-hardware company
issued since going public last month, led investors to send shares
6.7% higher to $33.75 premarket.
Telecom-gear maker Alcatel-Lucent (ALU, ALU.FR) plans to seek
several strategic partners to take small stakes in itself, the
company's chief executive said Tuesday, as the company's
second-quarter net loss widened on a big impairment charge on its
wireless business. The first company to take a small stake in
Alcatel-Lucent is chipmaker Qualcomm Inc. (QCOM), which is buying
the stake as part of a research-and-development pact to make new
wireless transmitters for homes and offices. Alcatel-Lucent's
American depositary shares rose 8.6% to $2.39 premarket.
Generator maker Generac Holdings Inc. (GNRC) easily trumped
analysts' estimates with its second-quarter growth, prompting the
company to boost the year's revenue target a second time. Shares
rose 7.3% to $44.01 premarket.
Stereotaxis Inc. (STXS) said it has been granted clearance by
the U.S. Food and Drug Administration to market in the U.S. its
Vdrive Robotic Navigation System with V-Sono Intracardiac
Echocardiography catheter manipulator. Its the first FDA clearance
for the Vdrive family of products, which have been utilized in
Europe since 2011. Shares jumped 46% to $2.59 premarket.
American Capital Agency Corp. (AGNC) swung to a profit in the
second quarter as the company posted a gain on securities. Shares
rose 5.3% to $23.00 in premarket trading as net income surpassed
expectations.
Vanda Pharmaceuticals Inc. (VNDA) said the U.S. Food and Drug
Administration granted priority review of the company's new drug
application for tasimelteon for the treatment of Non-24-hour
Disorder in the totally blind. Shares rose 27% to $10.22
premarket.
William A. Franke will resign as chairman of Spirit Airlines
Inc.'s (SAVE) board in August as funds affiliated with
private-equity fund Indigo Capital LLC divest their stake of 12
million shares in the discount air carrier. Spirit had 72.6 million
shares outstanding as of July 19. Shares were down 5.9% to $33.30
premarket.
Drug developer Sunesis Pharmaceuticals Inc. (SNSS) said that an
ethics committee has recommended that a study assessing the sole
use of the company's vosaroxin treatment for acute mylogenous
leukemia be discontinued. Shares fell 11% to $5.05 in premarket
trading.
Watchlist:
Anadarko Petroleum Corp. (APC) swung to a second-quarter profit
as the oil and gas producer was helped by derivatives gains and
other impacts.
Standard & Poor's Ratings Service on Monday downgraded
enterprise software company BMC Software Inc.'s (BMC) rating to
junk territory, citing a "substantial" amount of debt financing
related to its acquisition by a group led by Bain Capital and
Golden Gate Capital.
Caesars Entertainment Corp.'s (CZR) second-quarter loss narrowed
as the casino operator recorded a benefit from extinguishing debt,
though revenue was roughly flat.
Community Health Systems Inc.'s (CYH) second-quarter earnings
fell 64% as the rural hospital operator was hurt by lower
admissions, higher-than-expected bad debt and an increasing portion
of its patients with less lucrative health coverage.
Eastman Chemical Co.'s (EMN) second-quarter earnings rose 48% as
the chemical and materials manufacturer reported increased sales in
most of its segments, thanks in large part to its acquisition of
Solutia Inc. Earnings beat expectations and the company raised its
earnings guidance for the year.
Express Scripts Holding Co. (ESRX) second-quarter earnings
soared on lower costs as the pharmacy-benefits manager also
announced that its Chief Financial Officer Jeff Hall will step
down.
General Growth Properties Inc. (GGP) swung to a second-quarter
profit on a gain tied to investment properties and as charges
weighed on the bottom line last year, while funds from operations
grew ahead of the company's expectations.
Hartford Financial Services Group Inc.'s (HIG) second-quarter
loss widened as the insurer was hit by a $421 million loss related
to its international variable annuity hedging programs and other
items.
HCA Holdings Inc. (HCA) has named R. Milton Johnson as its next
chief executive, succeeding Richard Bracken who will retire from
the CEO role at the end of the year.
Standard & Poor's Ratings Services has raised its outlook on
Kraft Foods Group Inc.'s (KRFT) ratings to stable, a rosier view
pegged to an expectation the food company will improve its
leverage.
Manitowoc Co.'s (MTW) second-quarter profit jumped 27% as the
equipment manufacturer reported higher sales for the company's
cranes and food service equipment businesses.
Building-products manufacturer Masco Corp. (MAS) swung to a
second-quarter profit as revenue strengthened amid an increase in
new home construction in North America and as a litigation
settlement charge weighed on year-earlier results. Results topped
analyst expectations.
Maker of test-and-measurement equipment National Instruments
Corp.'s (NATI) second-quarter profit fell 45% as higher input costs
pressured its margins. The company also gave a downbeat
third-quarter view.
Northeast Utilities' (NU) second-quarter profit more than
tripled as the company's prior-year results were stung by
acquisition charges, while higher retail electric sales and lower
expenses also bolstered the bottom line.
Office supply companies Office Depot Inc. (ODP) and OfficeMax
Inc. (OMX) provided an update on their planned merger, including
naming a new co-leader of the integration process and reaffirming
expectations of recognizing up to $600 million in savings by
joining forces.
Orthofix International N.V. (OFIX) is postponing its
second-quarter earnings report because the medical device company
needs additional time to review matters related to revenue
recognition for prior periods.
PartnerRe Ltd. (PRE) swung to a loss in the second quarter as
the reinsurer posted catastrophe losses and restructuring
charges.
Plum Creek Timber Co.'s (PCL) second-quarter earnings rose 28%
as the real-estate investment trust reported increased operating
income across its businesses, as demand and pricing also
improved.
PMC-Sierra Inc.'s (PMCS) second-quarter loss widened as the chip
maker's revenue continued to decline.
R.R. Donnelley & Sons Co.'s (RRD) second-quarter profit fell
26% as the printing company recorded sharply higher income tax
expenses, masking higher revenue.
U.S. Steel Corp. (X) swung to a second-quarter loss as the
company recorded weaker bottom-line results in its flat-rolled,
European and tubular segments.
Vertex Pharmaceuticals Inc.'s (VRTX) second-quarter loss
narrowed as expenses declined, though sales of the company's
hepatitis C drug Incivek continued to weaken. The pharmaceutical
company's cystic fibrosis drug Kalydeco had a big second-quarter
beat. Plus, the company disclosed a successful late stage trial
that could expand Kalydeco's use to more patients.
XL Group PLC's (XL) second-quarter profit rose 23% as the
property-and-casualty insurer recorded higher gains on investments,
offsetting greater catastrophe losses.
Write to Anna Prior at anna.prior@dowjones.com
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