Among the companies with shares expected to actively trade in
Friday's session are Diamond Foods Inc. (DMND), Hertz Global
Holdings Inc. (HTZ) and VeriFone Systems Inc. (PAY).
Diamond Foods posted a wider fiscal third-quarter loss, hurt by
refinancing charges and weakness in its nuts segment. Diamond
warned in March that higher tree nut costs would hurt results
during the second half of the fiscal year. Its snack business,
meanwhile, posted higher sales. Shares dropped 7.5% to $30.83
premarket.
Hertz said it would have to restate and correct results from the
past three years, according to a regulatory filing that indicated
more widespread accounting problems at the auto-rental company than
had been thought. Shares declined 10% to $27.30 premarket.
VeriFone reported fiscal said it planned to cut 500 jobs by
year's end amid a restructuring. Meanwhile, the maker of
merchant-payment terminals reported second-quarter results that
topped its own expectations as demand for its terminals rose.
Shares edged up 2.6% to $34.70 premarket.
Watch List:
American International Group Inc. (AIG) said its board approved
the repurchase of up to an additional $2 billion in stock. The New
York City financial services company, which has been focusing on
global property-casualty insurance and U.S. retirement services,
has a market capitalization of about $79.4 billion, according to
FactSet.
Analogic Corp.'s (ALOG) fiscal third-quarter profit rose 50% as
improved margins helped offset a decline in the
electronics-component maker's revenue. The results were in line
with the downbeat outlook the company offered last week.
Cooper Cos. (COO) posted stronger results for its fiscal second
quarter, with market grains across its vision and surgical
businesses. The results led the Pleasanton, Calif., global medical
device company to again raise the lower end of its earnings
projection for the year.
Coty Inc. (COTY) said Friday it will buy back $468 million in
shares from affiliates of Berkshire Partners and Rhone Capital. As
part of the agreement, Brad Bloom, managing director at Berkshire,
and Steve Langman, managing director at Rhone, will resign from
Coty's board, bringing the board to eight members.
Piedmont Natural Gas Co. (PNY) said its fiscal second-quarter
profit rose 12% as the natural-gas distributor reported a
significant jump in revenue despite higher gas costs. Results
easily topped analysts' expectations.
Vail Resorts Inc. (MTN) posted a higher-than-expected 21%
earnings increase for the fiscal third quarter, driven by strength
at its Colorado resorts. The company raised its outlook for the
year.
United Parcel Service Inc. (UPS) named Chief Operating Officer
David Abney as its next chief executive, again promoting an insider
to its highest post. Mr. Abney, who started with the shipping giant
as a part-time package loader in 1974, will succeed Scott
Davis.
Write to Maria Armental at maria.armental@wsj.com
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