Among the companies with shares expected to actively trade in
Wednesday's session are Valassis Communications Inc. (VCI) and Gogo
Inc. (GOGO).
Valassis agreed to be acquired by Harland Clarke Holdings Corp.
in a deal valuing the coupon publisher at roughly $1.31 billion
that the companies expect will create a leading diversified payment
and marketing-services company. Shares surged 21% to $34.29
premarket.
In-flight wireless-service provider Gogo said three board
members representing Ripplewood Holdings will resign following the
private-equity firm's distribution of all its 27.6 million shares.
Gogo shares fell 6.6% to $28.70 in premarket trading.
New Residential Investment Corp. (NRZ) and other investors
agreed to buy about $3.2 billion of servicing advances from
Nationstar Mortgage Holdings Inc. (NSM), part of Nationstar's plan
to reconfigure its acquisition structure. The advances relate to
nonagency residential mortgage loans with an unpaid principal
balance of about $58 billion. Nationstar shares rose 4.1% to $42.50
in light premarket trading.
Prospect Capital Corp. (PSEC) said it agreed to buy Nicholas
Financial Inc. (NICK) in a stock deal valued at about $199 million
that the investment firm expects will expand its presence in the
car-loan industry. Prospect Capital is offering $16 a share for
Nicholas, a 4.5% premium over Tuesday's closing price. Nicholas
Financial shares edged up 2.8% to $15.70 premarket.
Onconova Therapeutics Inc. (ONTX) is ending a Phase 3 study of a
treatment for metastatic pancreatic cancer after determining the
combination of the company's rigosertib inhibitor and gemcitabine
is unlikely to show a statistically significant improvement in
overall survival. The clinical-stage biopharmaceutical company's
shares fell 9.7% to $134.80 premarket.
Jabil Circuit Inc. (JBL) agreed to sell its aftermarket-services
business to iQor Holdings Inc. for $725 million, and the contract
manufacturer reported fiscal first-quarter earnings rose 11%.
However, shares were down 18% at $16.15 premarket as the company
projected fiscal second-quarter results that missed
expectations.
VeriFone Systems Inc. (PAY) swung to a fiscal fourth-quarter
loss, as the maker of card-payment systems recorded a $242 million
tax charge and weaker system-solutions sales. Though adjusted
results for the period exceeded the company's expectations, shares
fell 4.4% to $23.89 premarket, as VeriFone issued fairly cautious
targets for the current quarter.
Heico Corp.'s (HEI) fiscal fourth-quarter profit jumped 25%, as
the aircraft-components maker reported broad sales growth and wider
operating margins. Results for the period exceeded expectations,
and Heico issued an upbeat sales growth outlook for the new fiscal
year. Investors sent the company's shares up 3.4% to $59.99
premarket.
Watch List:
Aegion Corp. (AEGN) slashed its 2013 profit guidance, as the
pipeline rehabilitator continued to face challenges in its North
American commercial-and-structural business during the fourth
quarter.
Apollo Education Group Inc. (APOL) said its Apollo Global Inc.
unit agreed to buy a majority interest in Australian online
learning company Open Colleges Australia Pty Ltd. in a deal the
for-profit education company says will be financially beneficial
long-term.
Boeing Co. (BA) named Dennis A. Muilenburg, currently CEO of
Boeing Defense, Space & Security, as its new chief operating
officer, a likely sign of the aerospace company's succession
planning. Muilenburg, 49 years old, will join the corporate team in
Chicago and share oversight of the day-to-day operations of the
company with CEO Jim McNerney.
Cracker Barrel Old Country Store Inc.'s (CBRL) largest
shareholder called on the company to consider strategic options,
including a potential sale, claiming the restaurant chain's
management and board weren't maximizing returns for
stockholders.
CVS Caremark Corp. (CVS) unveiled a 22% increase in its
quarterly dividend and plans to buy back an additional $6 billion
of its shares, including $4 billion in stock repurchases next year.
The drugstore operator and pharmacy-benefit manager also provided a
mostly cautious profit outlook for next year.
FedEx Corp.'s (FDX) fiscal second-quarter profit rose 14%,
missing market estimates, as the shipping giant's ground-shipping
revenue jumped but express-shipping revenue edged down in the
run-up to the critical holiday season. The company raised its
earnings view for the year, partly due to share repurchases.
Lennox International Inc. (LII) again raised its earnings and
revenue outlook for the year, pointing to a stronger-than-expected
performance, and the company offered guidance for next year in line
with expectations.
Macy's Inc. (M) unveiled plans to open 37 stores across the
country for 24 hours over a four-day period including Christmas as
it looks to combat a shorter shopping season this year.
Pharmaceutical giant Merck & Co. (MRK) said it will start a
clinical trial of its cancer-detection immunotherapy and partner
GlaxoSmithKline's (GSK) kinase inhibitor to test the effectiveness
of the two drugs in detecting and treating renal cell cancer.
Steel Dynamics Inc. (STLD) forecast slightly downbeat
fourth-quarter earnings, as the steel producer expects some pricing
improvement to be offset by lower shipments and an increase in
scrap costs.
Write to Lauren Pollock at lauren.pollock@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires