Among the companies with shares expected to actively trade in
Friday's session are Alcoa Inc. (AA), Sears Holdings Corp. (SHLD)
and YRC Worldwide Inc. (YRCW).
Alcoa swung to a steep fourth-quarter loss as the aluminum maker
recorded a $1.72 billion impairment charge tied to two acquisitions
made over a decade ago. Adjusted profit Alcoa reported for the
latest period wasn't as strong as analysts expected, though the top
line exceeded expectations. Shares dropped 6.6% to $9.98
premarket.
AngioDynamics Inc. (ANGO) swung to a modest fiscal
second-quarter loss but achieved break-even per-share results as
the medical-device maker's revenue improved more than expected,
pushing shares up 6.5% to $19.15 premarket.
Baker Hughes Inc. (BHI) warned a disruption to its business in
Iraq will reduce its fourth-quarter profit by about $80 million.
The oil-field services company, which resumed operations by the end
of December, had warned in November that it suspended operations in
Iraq following a protest incident at a facility belonging to one of
its units. Shares edged down 2.2% to $50.66 premarket.
Fifth & Pacific Cos. (FNP) unveiled a plan to change its
name to Kate Spade & Co., the second time the clothing maker
has changed its moniker since 2012, with the latest move tied to
its narrow focus on the designer brand. Shares dropped 8.2% to
$29.25 premarket as the company also issued a fiscal-year sales
outlook that missed Wall Street expectations.
Five Below Inc. (FIVE) cut its fiscal fourth-quarter outlook as
the discount retailer blamed bad weather for its
weaker-than-expected sales for the holiday season, sending shares
down 7.8% to $40.20 premarket.
Francesca's Holdings Corp. (FRAN) raised the low end of its
fourth-quarter outlook, after the retailer said it experienced a
positive finish for the holiday season. "After a lackluster start
to the holiday selling season beginning the week of Thanksgiving,
we ended the season stronger," said Chief Executive Neill P. Davis.
Shares surged 16% to $21.03 premarket.
Pacific Sunwear of California Inc. (PSUN) cut its fiscal
fourth-quarter outlook as the teen-focused specialty retailer cited
a "choppy" holiday season. PacSun said same-store sales for the
holiday period were flat on a continuing-operations basis, and up
1% if online sales are included. Shares dropped 17% to $2.83
premarket.
Sears projected adjusted losses for the fiscal fourth quarter
and full year that badly miss Wall Street's expectations, as the
struggling department-store operator warned of continued
same-stores sales weakness. Shares declined 11% to $37.80
premarket.
Hilltop Holdings Inc. (HTH) offered to buy the rest of SWS Group
Inc. (SWS) that it doesn't already own, valuing the
financial-services company at about $231 million. Hilltop, a
regional banking and insurance company, offered $7 a share, a 16%
premium over Thursday's close. SWS surged 19% to $7.20 premarket,
topping the offer price.
YRC Worldwide failed to win a contract extension from the
International Brotherhood of Teamsters, weakening the struggling
trucking company's prospects of completing a financing deal. Shares
plunged 22% to $12.30 premarket.
Watch List:
Chevron Corp. (CVX) said its fourth-quarter global oil and gas
production is expected to decline from the year-ago quarter, while
most commodity prices are on pace to be slightly lower. Chevron,
the second-largest U.S. oil company in market value after Exxon
Mobil Corp. (XOM), forecast fourth-quarter earnings to be
comparable to the third quarter.
Gap Inc. (GPS) said it expects to report full-year earnings near
the high end of its outlook as the apparel retailer posted a rise
in sales for the holiday season, though December sales fell short
of expectations.
Helen of Troy Corp.'s (HELE) fiscal third-quarter earnings edged
down 0.5% as the personal-care and household-products maker
recorded a larger income-tax expense, masking a rise in
revenue.
Overstock.com (OSTK) said it would now accept bitcoin, a virtual
currency that has exploded in popularity since its introduction
four years ago, at the company's online shopping site.
PharMerica Corp. (PMC) projected strong revenue for 2014 and
said it will continue to adjust its cost structure and the size of
its workforce as part of an ongoing restructuring plan. The
pharmacy-services provider has posted stronger-than-expected growth
in recent quarters, allowing it to raise its estimates for 2013 in
November, numbers it backed on Friday.
Cigarette maker Philip Morris International Inc. (PM) said it
plans to invest up to 500 million euros into its first
manufacturing facility in the European Union and an associated
pilot plant in Italy to produce potentially "reduced-risk" tobacco
products.
Progress Software Corp.'s (PRGS) fiscal fourth-quarter profit
tumbled 58% as the business-software provider's higher sales and
margins couldn't fully offset a gain recorded last year tied to
discontinued operations.
Synnex Corp.'s (SNX) fiscal fourth-quarter earnings fell 4.9% as
broad revenue growth was offset by expenses related to a pending
acquisition.
Target Corp. (TGT) disclosed Friday that its recent data breach
affected up to 70 million individuals, far more people than its
previous reports showed. The company said guest
information--including names, mailing addresses, phone numbers or
email addresses--were stolen.
Tiffany & Co. (TIF) said its holiday sales rose 4% thanks to
growth in all regions, while mall-based peer Zale Corp. (ZLC) also
posted a slight uptick. "Tiffany enjoyed a good holiday season with
overall sales results in line with our expectation, and we were
pleased to see growth across our fine and statement, engagement and
fashion jewelry categories," Chief Executive Michael J. Kowalski
said as he backed the company's earnings forecast for the year.
WuXi PharmaTech Inc. (WX) said it expects its earnings for 2013
to slightly top its prior outlook. The Shanghai-based drug-research
contractor has posted strong sales growth in recent quarters, led
largely by its China laboratory services.
Write to Lauren Pollock at lauren.pollock@wsj.com
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