Among the companies with shares expected to actively trade in
Wednesday's session are Protective Life Corp. (PL), Tibco Software
Inc. (TIBX) and Yingli Green Energy Holding Co. (YGE).
Ascena Retail Group Inc. (ASNA) is planning promotions to adjust
its inventories ahead of the fall season, amid challenging sales
trends that have continued into the apparel retailer's current
quarter. Shares dropped 5.2% to $15.55 premarket.
FuelCell Energy Inc.'s (FCEL) loss more than doubled in the
fiscal second quarter on higher operating expenses and lower
revenue. Shares dropped 14% to $2.04 premarket.
Leidos Holdings Inc. (LDOS) said fiscal first-quarter earnings
slumped 52%, as revenue declined amid what the company described as
a continued constrained federal funding environment. Shares dropped
3.5% to $36.61 premarket.
Pandora Media Inc. (P) said listener hours and active listeners
rose in May, as the online radio company increased its market share
from a year earlier. Shares dropped 3.8% to $23.67 premarket as
listener growth brings higher royalty costs for the songs it
plays.
Dai-ichi Life Insurance Co. said it will acquire Alabama-based
Protective Life for about $5.7 billion, the largest purchase of a
foreign company by a Japanese life insurer. The deal is worth $70 a
share in cash, a 34% premium over Protective Life's closing stock
price Friday. Shares surged 18% to $69.24 premarket.
Tibco Software cut its forecast for its fiscal second quarter,
citing weak sales of its analytics software called Spotfire. Shares
dropped 13% to $18.08 premarket.
Yingli Green said it will continue to fight a U.S. plan to close
a loophole that allowed Chinese solar manufacturers to avoid
tariffs by assembling their products outside China. Yingli shares
dropped 6.4% to $2.76 premarket. Among the other Chinese solar
stocks trading lower Wednesday are JinkoSolar Holding Co. (JKS),
Trina Solar Ltd. (TSL) and JA Solar Holdings Co. (JASO).
Watch List:
Align Technology Inc. (ALGN), maker of the Invisalign system
used to straighten teeth, said the International Trade Commission
on Monday stayed cease-and-desist orders against ClearCorrect
pending an appeal.
A. Schulman Inc. (SHLM) agreed to buy a majority of Ferro
Corp.'s (FOE) specialty plastics business for $91 million in cash,
an effort to expand its geographic footprint.
Brown-Forman Corp. (BFA, BFB) said its fiscal fourth-quarter
earnings jumped 17% as the Jack Daniel's whiskey maker posted
higher sales and wider margins. Earnings beat expectations.
HeartWare International Inc. (HTWR) said it received a warning
letter from the U.S. Food and Drug Administration, citing concerns
about procedures for validating device design and other issues.
Mattress Firm Holding Corp. (MFRM) said its fiscal first-quarter
earnings fell 36% on higher costs that masked the bedding specialty
retailer's sales growth. The company raised its revenue forecast
for the year.
NRG Yield Inc. (NYLD) confirmed it has agreed to pay $870
million to acquire the Alta Wind Energy Center, the largest wind
farm in North America.
Rentrak Corp.'s (RENT) revenue rose 40% with help from its
television business revenue, but the box-office tracking and
TV-ratings firm posted a slightly wider loss for its fiscal fourth
quarter.
Stifel Financial Corp. (SF) agreed to buy Legg Mason Inc.'s (LM)
investment-advisory and trust-services unit, which manages more
than $9 billion in assets, the companies said. Terms of the deal
weren't disclosed.
UnitedHealth Group Inc. (UNH) said its board has increased the
health insurer's quarterly dividend by 34% and renewed the
company's share repurchase program.
Walgreen Co. (WAG) said its sales, excluding newly opened or
closed stores, rose 4.4% in May, helped by increases in pharmacy
prescriptions and basket size, though traffic declined slightly in
the front of the store.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires