Among the companies with shares expected to actively trade in
Thursday's session are PetSmart Inc. (PETM), Ciena Corp. (CIEN) and
NQ Mobile Inc. (NQ).
PetSmart's fiscal fourth-quarter profit jumped 31% as the
specialty pet store's same-store sales and margins continued to
grow. However, shares dropped 8% to $61.26 premarket as the company
predicted downbeat results for 2013.
Ciena slightly narrowed its fiscal first-quarter loss as the
networking-equipment company recorded stronger revenue and margins.
Stripping out one-time items, the company swung to a surprise
per-share profit, sending shares up 14% to $16.98 in premarket
trading.
NQ Mobile's fourth-quarter income rose 53% as the mobile
Internet services company reported more users. The company's
American depositary shares jumped 24% premarket to $10.89 as the
results beat Wall Street's expectations.
James River Coal Co.'s (JRCC) fourth-quarter loss widened as the
coal producer was hurt by a goodwill write-down and lower coal
prices and shipments. Results missed expectations and the company
failed to issue coal-production or cost guidance for 2013, with
chief executive Peter T. Socha saying that "there are just too many
moving pieces." Shares fell 11% to $2.26 premarket.
Acura Pharmaceuticals Inc. (ACUR) filed plans to offer up to $75
million in common stock, debt securities and warrants. The
specialty pharmaceutical company plans to use proceeds for general
corporate purposes. It has a market capitalization of $141 million,
according to FactSet. Shares were down 10% to $2.40 premarket.
MGIC Investment Corp.'s (MTG) 135 million share offering priced
at $5.15 each. The offering, along with the $350 million aggregate
principal of senior notes due 2020, is the company's first test of
capital markets after sentiment on the company improved in recent
months. Still, shares fell 6.6% to $5.24 premarket.
FIS Inc. (FIS) said private-equity firm Warburg Pincus LLC has
agreed to sell about 19.3 million shares, which represents nearly
all of its remaining ownership stake. The banking and payments
technology provider had about 294.5 million shares outstanding as
of Jan. 31. Shares were off 2.8% to $37.35 premarket.
FleetCor Technologies Inc. (FLT) said selling stockholders have
agreed to sell 4.5 million shares. The company had about 81.2
million shares outstanding as of Feb. 8. Shares slipped 2.6% to
$70.40 premarket.
Kayne Anderson MLP Investment Co. (KYN) has commenced an
offering of 4 million shares as the management investment company
looks to raise funds to make additional portfolio investments and
for general corporate purposes. It had about 88.4 million shares
outstanding as of Nov. 30. Shares slipped 5.7% to $33.11
premarket.
Oculus Innovative Sciences Inc. (OCLS) intends to offer common
stock, but didn't detail how many shares it would sell. The
commercial health-care company had about 37.4 million shares
outstanding as of Jan. 24. Shares tumbled 25% to 41 cents
premarket.
SolarCity Corp. (SCTY) swung to a fourth-quarter loss as the
solar-panel installer's heavy operating costs offset an increase in
revenue. Shares fell 8% to $17.73 in premarket trading as the
results fell far short of Street expectations.
Horizon Pharma Inc. (HZNP) said the U.K. Medicines and
Healthcare products Regulatory Agency has granted marketing
authorization for the company's osteoarthritis and rheumatoid
arthritis treatment, Duexis. Shares rose 5.4% to $2.16
premarket.
Watchlist:
Discovery Communications Inc. (DISCA, DISCB, DISCK) said an
offering of about 7.7 million shares of its Series C common stock
held by FTI Ventures LLC priced at $64.75, a 2.6% discount to
Wednesday's close.
DryShips Inc.'s (DRYS) fourth-quarter loss widened as the dry
bulk shipper recorded losses on the sale of tankers and other
charges, and revenue continued to fall.
Hertz Global Holdings Inc. (HTZ) said three of its largest
stockholders, Clayton, Dubilier & Rice LLC, the Carlyle Group
L.P. (CG) and Bank of America Corp.'s (BAC) Merrill Lynch are
selling about 60.1 million shares. The car-rental company had about
421.7 million shares outstanding as of Feb. 26.
InvenSense Inc. (INVN) said it won a motion to stay the patent
litigation brought by STMicroelectronics NV (STM) while separate
proceedings with the U.S. Patent and Trademark Office challenged
the validity of all of STM's asserted patents.
KAR Auction Services Inc. (KAR) said a secondary offering of 13
million of its shares priced at $19.25 a share, a 4.1% discount to
its Wednesday's close.
Korn/Ferry International's (KFY) fiscal third-quarter earnings
fell 19% as the executive-search company's increase in operating
expenses masked revenue growth, though core earnings improved.
Layne Christensen Co. (LAYN) expects to report a surprise fiscal
fourth-quarter loss as the drilling-services provider said it will
book steep losses in its heavy civil segment.
MRC Global Inc. (MRC) said an upsized offering of 23 million
from the company's biggest stockholder priced at $28 a piece, a
4.6% discount to Wednesday's close
Piedmont Natural Gas Co.'s (PNY) fiscal first-quarter profit
rose 13% as the natural-gas distributor's stronger revenue offset
higher gas costs.
Rovi Corp. (ROVI) said it has entered into a license agreement
with online video site Hulu LLC, which resolves all outstanding
litigation. The entertainment, data and technology company didn't
disclose specific terms of the agreement.
Semtech Corp.'s (SMTC) fiscal fourth-quarter earnings rose 5.9%
as revenue strengthened, although the chip manufacturer's results
were muted by higher costs. First-quarter revenue guidance topped
analysts' projections.
Shoe Carnival Inc. (SCVL) lowered its fourth-quarter earnings
projections as colder weather and the delay in income-tax refunds
hurt the footwear retailer's athletic sales. Shoe Carnival also
reported sales for the quarter that missed its expectations.
Sigma Designs Inc. (SIGM) said its Chief Financial Officer
Thomas E. Gay has resigned and will be replaced in the interim by
corporate controller Elias N. Nader.
TD Ameritrade Holding Corp.'s (AMTD) President and Chief
Executive Fred Tomczyk plans to sell up to 200,000 shares of the
online-brokerage company's common stock, which is about 8% of the
2.5 million shares he holds.
Time Warner Inc. (TWX), a company partly named after a magazine,
is getting out of the magazine business. The company has decided to
spin off its entire Time Inc. magazine group, it said Wednesday,
giving up on talks with Meredith Corp. (MDP) over the proposed
merger of most of their titles.
Triple-S Management Corp. (GTS) said it plans to convert 7
million Class A shares into Class B shares. To enhance the
liquidity of the Class B shares, Triple-S will conduct a secondary
offering for all or a substantial majority of the converted shares
and plans to repurchase up to $30 million Class B shares in the
offering. Triple-S, an independent licensee of the Blue Cross Blue
Shield Association, had about 9 million Class A shares and 19.3
million Class B shares outstanding as of Feb. 26.
Vail Resorts Inc.'s (MTN) fiscal second-quarter profit rose 31%
as skiers returned to the slopes in Colorado after a weak start to
the season.
Wausau Paper Corp. (WPP) has agreed to nominate two candidates
recommended by Starboard Value LP to its board, a move that comes
as the activist hedge fund has recently engaged in a back and forth
with Wausau over its strategic review process.
Westlake Chemical Corp. (WLK) has agreed to acquire the PVC pipe
and fittings unit of Compagnie de Saint-Gobain SA's (SGO.FR, CODYY)
CertainTeed Corp. for $175 million.
Write to Anna Prior at anna.prior@dowjones.com
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