Among the companies with shares expected to actively trade in
Tuesday's session are Best Buy Co. (BBY), Express Inc. (EXPR), and
AutoZone Inc. (AZO).
Best Buy's fiscal first-quarter earnings fell 25% as the
electronics seller shouldered costs tied to its restructuring
effort and suffered a steep drop in same-store sales. Still, shares
recently jumped 6.2% to $19.20 in premarket trade as the results
exceeded Wall Street expectations and the company backed its
full-year guidance.
Express Inc.'s (EXPR) fiscal first-quarter earnings rose 20%
from a year-earlier period weighed down by debt-reduction costs as
margins slipped on slower-than-expected sales growth. Muted
first-quarter growth for the apparel chain prompted Express to cut
its earnings-per-share target for the year and the company said
same-store sales growth might not be as robust as it previously
anticipated. Shares fell 20% to $18.50 premarket.
AutoZone Inc.'s (AZO) fiscal third-quarter earnings rose 9.3% as
the largest auto-parts retailer in the U.S. lifted its same-store
sales and held margins steady. But its domestic same-store sales
growth for the quarter was the slightest for the company in at
least a year and overall revenue growth wasn't as robust as
analysts anticipated. Shares fell 3% to $357.50 premarket.
Urban Outfitters Inc.'s (URBN) fiscal first-quarter earnings
fell 8.6% as the apparel retailer posted weaker margins and higher
overhead costs, though same-store sales improved. Still, shares
rose 2.3%, to $26.76 in premarket trading, as the profit beat
expectations.
Medtronic Inc.'s (MDT) fiscal fourth-quarter earnings rose 28%
as the medical-device maker reported fewer charges and broad
revenue growth. Shares climbed 2.1% to $38.50 premarket.
Ralph Lauren Corp.'s (RL) fiscal fourth-quarter earnings rose
29% on double-digit revenue and same-store sales growth, while the
premium-brand clothing maker doubled its quarterly dividend. But
the company also forecast a mid-single-digit percentage increase in
fiscal 2013 revenue amid reduced distribution in Greater China and
for American Living, combined with unfavorable foreign-currency
effects. Analysts surveyed by Thomson Reuters expect full-year
revenue growth of 11% to $7.57 billion. Shares declined 2.9% to
$142 in recent premarket trading.
Hampton Roads Bankshares Inc. (HMPR) unveiled plans to raise up
to $95 million through the sale of its common stock in a private
placement and a public rights offering, as the financial holding
company looks to satisfy regulatory capital requirements and raise
significant additional capital. Shares slid 20% to $2.65 premarket
as the company said its three largest shareholders have agreed to
purchase $50 million of its common stock at 70 cents a share, a 79%
discount to the stock's Monday closing price.
Standard and Poor's said it will add Alexion Pharmaceuticals
Inc. (ALXN) to the S&P 500 after the close of trading Thursday,
replacing Motorola Mobility Holdings Inc. (MMI). Alexion shares
rose 3.4% to $91.80 premarket.
Watchlist:
Fitch Ratings upgraded CenterPoint Energy Inc. (CNP) one notch
further into investment grade, saying the energy-delivery company
has seen consistent progress in improving its financial flexibility
and in reducing borrowing.
Cracker Barrel Old Country Store Inc.'s (CBRL) fiscal
third-quarter earnings rose 25% as the company reported stronger
sales at its restaurants and retail operations.
Financial-services holding company Fairfax Financial Holdings
Ltd. (FRFHF, FFH.T) said Monday it agreed to buy Thomas Cook Group
PLC's (TCG.LN) 77% interest in Thomas Cook (India) Ltd. (500413.BY)
for about $150 million.
Georgia Gulf Corp. (GGC) said it reinstated its quarterly
dividend after a four-year suspension, as the chemical company's
financial position strengthens.
Generac Holdings Inc. (GNRC) said it will cut the total size of
its previously proposed $1.2 billion refinancing plan and unveiled
other changes to the recapitalization plan, citing recent financing
market conditions.
Knight Transportation Inc. (KNX) said its secretary and
treasurer Adam Miller will take on the added role of chief
financial officer.
Nordson Corp.'s (NDSN) fiscal second-quarter earnings slumped
20% as the maker of dispensing equipment saw lighter organic volume
and higher expenses weaken margins. However, the company forecast
upbeat third-quarter results.
Old Republic International Corp. (ORI) said it sold a 21% common
equity interest in Republic Financial Indemnity Group Inc. to a
group of investors in a partial leveraged buyout, as the insurer
looks to recapitalize its businesses.
RailAmerica Inc. (RA) said it will redeem $74 million of the
railroad company's remaining 9.25% senior secured notes due in
2017.
Shaw Group Inc. (SHAW) said it agreed to sell substantially all
of its energy and chemicals business to Technip SA (TEC.FR, TKPPY)
for about $300 million in cash, allowing the company to focus on
its primary industries. Due to the projected net gain from the
sale, Shaw raised its full-year earnings guidance.
STAG Industrial Inc. (STAG) said it plans to offer 7.3 million
shares of company stock, looking to use the proceeds to fund
acquisitions, repay debt and for general working capital.
Standard & Poor's Ratings Services lowered its outlook on
The Washington Post Co. (WPO) to negative from stable on
expectations that operating performance at the media company's
higher-education unit will remain depressed over the
near-to-intermediate term.
Williams-Sonoma Inc. (WSM) fiscal first-quarter earnings fell
2.8%, due in part to severance expenses related to an executive's
departure in March, while increased shipping offers weakened the
high-end home-furnishing-retailer's margins.
-Edited by Corrie Driebusch, Dow Jones Newswires; 212-416-2143; corrie.driebusch@dowjones.com