Among the companies with shares actively trading premarket are
Sourcefire Inc. (FIRE), Wendy's Co. (WEN) and Netflix Inc.
(NFLX).
Cisco Systems Inc. (CSCO) has agreed to buy cybersecurity firm
Sourcefire for $2.7 billion, a move that will bolster the
technology giant's security offerings. Under the terms of the
agreement, Cisco will pay $76 a share in cash for each Sourcefire
share, a 29% premium to Monday's close. The purchase price also
includes retention-based incentives. Sourcefire shares jumped 29%
to $76.21 premarket.
Wendy's swung to a second-quarter profit as the fast-food
chain's restaurant margins and same-store sales improved. The
company also unveiled plans to sell about 425 company-operated
restaurants to franchise operators in an effort to concentrate its
ownership geographically and reduce total system ownership to 15%
from 22%. In connection with the sales plan, the company's board
approved a 25% increase in Wendy's quarterly dividend to five cents
a share from four cents. Shares jumped 11% to $7.40 premarket.
Netflix Inc. posted a stronger quarterly profit and continued to
add customers, a sign that its bold and in some ways risky shift in
programming strategy is paying dividends. The Los Gatos, Calif.,
streaming video provider said it gained 630,000 U.S. streaming
subscribers in the quarter ended June 30, the midpoint of its
guidance range but short of Wall Street's expectations. Shares were
down 4.2% to $251.00 premarket.
PacWest Bancorp (PACW) has agreed to acquire CapitalSource Inc.
(CSE) in a roughly $2.29 billion cash-and-stock deal expected to
create one of the largest commercial banks in California. The
transaction values CapitalSource at around $11.68 a share, a
roughly 19% premium to its Monday closing price. CapitalSource's
shares jumped 25% to $12.25 premarket.
DuPont Co.'s (DD) second-quarter earnings dropped 12% as the
diversified U.S. manufacturer saw lower sales in its performance
chemicals arm, and also said it is exploring strategic alternatives
for the segment as it aims to transform itself into a higher
growth, less cyclical company that focuses on its scientific
offerings. Shares rose 4.3% to $59.62 premarket.
Penn National Gaming Inc. (PENN) swung to a second-quarter loss
amid softness in regional gaming trends, bad weather in the Midwest
and competitive pressures. Shares fell 6.7% to $50.35 premarket as
the company also cut its view for the year, pointing to trends in
the first two quarters and a lack of visibility.
RadioShack Corp.'s (RSH) second-quarter loss widened as margins
were weakened by promotional and clearance efforts and revenue
edged lower. However, shares were up 6.1% to $3.11 premarket as the
company posted stronger-than-expected revenue and same-store sales
rose.
MGIC Investment Corp. (MTG) swung to an unexpected
second-quarter profit as the struggling mortgage insurer incurred
sharply lower losses and the number of delinquent loans declined to
the lowest point in years. Shares were up 9.9% to $7.33 in
premarket trading.
Molecular diagnostics company CombiMatrix Corp. (CBMX) said it
has entered into a contractual agreement with health insurer Blue
Shield of California for coverage of its diagnostic laboratory
services. Shares rose 22% to $3.75 premarket.
Array BioPharma Inc. (ARRY) said a study showed its drug
candidate, ARRY-502, improved a measure of lung function for people
with mild to moderate persistent allergic asthma. Shares jumped 13%
to $6.30 premarket as Arry said results from a Phase 2 trial
indicated ARRY-502 achieved the primary endpoint of significantly
improving pre-bronchodilator forced expiratory volume in one
second.
STMicroelectronics NV's (STM, STM.MI, STM.FR) second-quarter
loss widened, as the chip maker continued a push to refocus itself
on making electronic sensors and new technology for making smaller
transistors. American depositary shares fell 5.6% to $9.24
premarket.
Watchlist:
American Greetings Corp. (AM) disclosed the Weiss family, which
has launched a bid to take the greeting-card company private for
about $612 million, has no plans to further sweeten the offer.
Plywood maker Boise Cascade Co. (BCC) said Boise Cascade
Holdings LLC is launching a sale of at least 10 million shares of
the newly public company, which debuted in February. The company
won't receive any proceeds from the stock sale by Boise Cascade
Holdings, which is controlled by private-equity firm Madison
Dearborn.
Corinthian Colleges Inc. (COCO) said former U.S. Secretary of
Defense and director of the Central Intelligence Agency Leon
Panetta has resigned from the for-profit college operator's board,
a move that comes three months after he rejoined as a director.
Crane Co.'s (CR) second-quarter profit fell 12% as the
diversified manufacturer's results were hurt by costs relating to
an acquisition and weaker revenue, but operating margin
increased.
Upscale steakhouse operator Del Frisco's Restaurant Group Inc.
(DFRG), which operates restaurants under the Del Frisco's Double
Eagle Steak House, Sullivan's Steakhouse and Del Frisco's Grille
brands, said at least five million shares would be sold under a
secondary public offering. The stock is being offered by the
company's largest shareholder, private-equity firm Lone Star Funds,
and thus Del Frisco's won't receive proceeds from the stock
sale.
Genesis Energy L.P. (GEL) has agreed to acquire Hornbeck
Offshore Services Inc.'s (HOS) fleet of oil-transport barges and
tug boats for around $230 million in an effort to boost its
ocean-going capacity.
Men's Wearhouse Inc. (MW) unveiled plans to repurchase $100
million of the clothing company's common shares under an
accelerated buyback program that should be completed by the end of
the fourth quarter.
Standard & Poor's Ratings Services lowered its outlook on
Nucor Corp. (NUE) to negative from stable, noting slow domestic
economic growth and high levels of imports are pressuring the
steelmaker's operating performance.
Biopharmaceutical firm Opexa Therapeutics Inc. (OPXA) will be
offering 9.3 million shares to raise money to repay debt and fund
clinical development of a multiple-sclerosis treatment, a Phase II
study and general corporate purposes.
Rent-A-Center Inc.'s (RCII) second-quarter earnings slipped 4.9%
as the provider of rent-to-own home merchandise continued to post
weaker sales in its core U.S. segment, though revenue improved in
its RAC Acceptance and international segments.
Sanmina Corp. (SANM), an integrated manufacturing solutions
company, reported third-quarter results that beat analyst
expectations. The company also provided a fourth-quarter outlook
generally in line with consensus expectations.
Solera Holdings Inc. (SLH) will be required to shed assets to
resolve charges that the maker of auto-insurance software violated
antitrust laws, the Federal Trade Commission said.
Texas Instruments Inc. (TXN) showed improving signs in its
businesses, though the company's long process of exiting the
wireless chip business continues to hang over its income statement.
The company on Monday reported that second-quarter profit rose 48%,
largely due to a $315 million gain associated with transferring
technology to an unnamed customer. Excluding that gain, however,
net income still was slightly above analysts' expectations.
United Parcel Service Inc.'s (UPS) second-quarter profit fell 4%
as higher expenses overshadowed revenue improvement, though volume
was up overall.
W.R. Berkley Corp.'s (WRB) second-quarter earnings rose 6.5% as
the insurer paid out a smaller portion of premiums to cover claims
and expenses while premium revenue improved.
Zions Bancorp's (ZION) second-quarter profit fell 9.4% as the
Utah-based regional bank saw expenses increase along with a rise in
total loans.
Write to Anna Prior at anna.prior@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires