Among the companies whose shares are expected to actively trade
in Tuesday's session are Best Buy Co. (BBY), Urban Outfitters Inc.
(URBN) and Ivanhoe Mines Ltd. (IVN, IVN.T).
Strong mobile-device sales at Best Buy were again overshadowed
by declining demand for TVs and other consumer electronics and
entertainment gadgets. Best Buy's computing and mobile domestic
sales increased 8.8% on a comparable basis in the fiscal third
quarter, but the product type was the only one except the nascent
appliance category to report such growth. Shares tumbled 9.1% to
$25.51 in recent premarket trading on the miss.
Urban Outfitters said the fourth-quarter same-store sales in its
retail segment are tracking up in the mid single-digit percent,
higher than analysts were projecting. The Philadelphia-based
retailer provided the fourth-quarter update in a regulatory filing
with the Securities and Exchange Commission. Shares gained 12% to
$29.65 in recent premarket trading.
Rio Tinto PLC (RIO) said it reserves the right to increase its
stake in Canadian mining concern Ivanhoe Mines Ltd., but doesn't
have any plans to make a full takeover offer after winning an
arbitration process involving Ivanhoe. The Anglo-Australian miner
has been successful in its challenge to protect its rights against
a poison pill defense adopted by Ivanhoe; Rio will be able to
maintain its 49% stake if any bid for Ivanhoe triggers the smaller
company's shareholder rights plan adopted last year, Ivanhoe said
in a statement. Rio Tinto's shares climbed 2.1% to $50.14 in recent
premarket trading, while Ivanhoe slumped 14% to $17.85.
DuPont Co. (DD) offered a forecast for earnings next year that
came in mostly above analyst expectations, signaling hope for the
manufacturing sector's prospects in the coming year.
Alexza Pharmaceuticals Inc. (ALXA) said a U.S. Food and Drug
Administration panel has recommended that its schizophrenic and
bipolar disorder treatment be approved for use. Shares surged 68%
to $1.05 in recent premarket trading.
FuelCell Energy Inc.'s (FCEL) fiscal fourth-quarter loss
narrowed as margins and backlog swelled, driven by new orders of
its large-scale power plant units. The results were stronger than
analysts expected. Shares climbed 0.9% to $1.10 in recent premarket
trading.
Pantry Inc.'s (PTRY) fiscal fourth-quarter earnings sank 61% as
the Southeastern convenience-store and gasoline-station operator
saw lower same-store gasoline and merchandise sales. Shares fell
6.6% to $11.09 in recent premarket trading.
Primerica Inc. (PRI) said former parent Citigroup Inc. (C) is
selling its remaining eight million shares in the life-insurance
business. Further terms weren't disclosed. At Monday's close, the
stake is valued at about $186 million.
Royale Energy Inc. (ROYL) said it had acquired more than 100,000
acres in the "heart of the oil window" during the state of Alaska's
North Slope lease sale. "This acquisition has the potential of
being a continuous accumulation of oil produced from shale," said
Donald Hosmer, Royale's co-CEO, "providing a large number of
repeatable drilling opportunities that can lead to significant and
extended reserve growth for Royale Energy." Shares climbed 5.6% to
$5.27 in recent premarket trading.
Watch List:
Booz Allen Hamilton Corp. (BAH) said its board has approved a
$30 million share-repurchase program, to be funded with cash on
hand, as the consulting company looks to boost shareholder
value.
Cabot Microelectronics Corp.'s (CCMP) board agreed to provide a
$15-a-share special dividend funded by cash on hand and new debt
and boosted its share repurchase program, in an effort to buoy
shareholder value.
Cosi Inc. (COSI) named Brinker International Inc. (EAT)
executive Carin L. Stutz as the casual dining chain's new chief
executive and president, effective Jan. 1, concluding the company's
search for a permanent CEO. Stutz, who has worked at a number of
restaurant companies, will also join the board of directors, the
company said.
Cypress Semiconductor Corp. (CY) said rival Avago Technologies
Inc. (AVGO) has ended a patent-infringement lawsuit against it.
Cypress said it didn't pay damages or admit to any infringement in
the case.
FactSet Research Systems Inc.'s (FDS) fiscal first-quarter
earnings rose 9.4%, helped by higher revenue and client growth,
though recent volatility in financial markets interrupted buying
patterns from some clients. The financial software company
projected per-share earnings above analysts' consensus view for the
current quarter, but revenue outlook fell slightly below Street
estimates.
Railroad operator Genesee & Wyoming Inc.'s (GWR) November
traffic rose 9.7% from a year earlier, helped by recent
acquisitions and an increase in metals shipments.
Johnson & Johnson (JNJ) said Monday it will release new
batches of cancer drug oxil, which has been in short supply this
year due to problems at a contract manufacturer.
Magellan Health Services Inc. (MGLN) unveiled 2012 guidance and
a new senior secured revolving credit facility of $230 million. The
manager of behavioral health care, diagnostic imaging and other
health-care services forecast overall earnings that fell beneath
Wall Street's expectations, though the revenue outlook exceeded
analysts' consensus view.
MarkWest Energy Partners LP (MWE) unveiled a public offering of
its units to fund a proposed acquisition, while Pioneer Natural
Resources Co. (PXD) and Pioneer Southwest Energy Partners LP (PSE)
said they will both offer units to raise money for general
corporate purposes.
Medtronic Inc. (MDT) has agreed to pay $23.5 million to resolve
allegations that it paid illegal kickbacks to physicians who
participated in its post-market studies and device registries to
induce doctors to implant the company's pacemakers and
defibrillators, the Department of Justice said Monday.
Standard & Poor's Ratings Services put MEMC Electronic
Materials Inc.'s (WFR) junk-grade credit status on watch for
possible downgrade, citing a litany of risks from the company's
exposure to the oversupplied solar-energy sector.
Neoprobe Corp. (NEOP) said it has gained exclusive worldwide
licensing rights for a radioimaging material from AstraZeneca PLC
(AZN, AZN.LN) that might help better diagnose Alzheimer's
disease.
Oil-and-gas exploration and production company Penn Virginia
Corp. (PVA) lowered its production guidance for its fourth quarter,
citing the timing of its Eagle Ford Shale projects and a revised
method for estimating production from Eagle Ford wells.
Pilgrim's Pride Corp. (PPC) extended the deadline for an
exchange offer for $500 million worth of its senior notes. The
poultry processor last month launched an offer to swap senior notes
due in 2018 for exchange notes that are substantially identical to
the outstanding notes, except that the exchange notes don't have
any transfer restrictions and aren't entitled to any registration
rights, among other provisions.
Range Resources Corp. (RRC) selected company insider Ray Walker
as its new chief operating officer, continuing a series of
management changes unveiled by the natural-gas company earlier this
year.
Sensata Technologies Holding N.V. (ST) cut its fourth-quarter
adjusted earnings and revenue predictions, primarily due to the
impact of the flooding in Thailand on the company's sensors
business, lower production levels and a reduction in inventories
throughout the automotive supply chain. The company noted the
floods haven't had a material impact on its supply chain, but it
has negatively affected production schedules for certain automotive
original equipment manufacturers.
Southwest Airlines Co. (LUV) confirmed plans to order 150 of
Boeing Co.'s (BA) planned 737 Max jetliners, making the airline the
first customer to finalize an order for the more fuel-efficient
aircraft.
Spartech Corp.'s (SEH) fiscal fourth-quarter loss narrowed as
the packaging company again increased selling prices to pass
through higher raw material costs and offered a greater mix of
higher-priced products, though margins continued to fall.
Warner Chilcott PLC (WCRX) said a federal appeals court vacated
a lower court's ruling that had prevented Mylan Inc. (MYL) from
releasing a generic version of its Doryx acne drug until pending
patent litigation was decided.
-Edited by Ian Thomson and Corrie Driebusch; write to
ian.thomson@dowjones.com and corrie.driebusch@dowjones.com