Among the companies with shares expected to actively trade in
Tuesday's session are J.C. Penney Co. (JCP), A. Schulman Inc.
(SHLM), Staar Surgical Co. (STAA).
J.C. Penney Chief Executive Ron Johnson has been ousted, after
his plan for revamping the chain's 1,100 department stores produced
a disastrous drop in sales. Myron Ullman, whom Mr. Johnson replaced
as CEO, will retake the top job and has joined the company's board.
Shares fell 6.2% to $14.88 after hours.
A. Schulman's fiscal second-quarter earnings rose 30% with a
boost from a tax benefit, though the company said it was continuing
restructuring efforts in Europe to address weakening market trends
and was initiating consolidation efforts in Brazil. The maker of
plastic compounds and resins Monday also lowered its full-year
per-share earnings estimate. Shares slipped 5.9% to $28 after
hours.
Staar Surgical issued first-quarter revenue guidance that topped
analysts' expectations, citing a 24% growth in sales of its Visian
ICL lens. Shares jumped 20% to $6.60 after hours.
The largest shareholder of 3SBio Inc. (SSRX) plans to oppose an
offer by Decade Sunshine Ltd. to take the China-based biotechnology
company private. In a filing with the Securities and Exchange
Commission, OrbiMed Advisors LLC, OrbiMed Capital LLC and D. Isaly
disclosed a roughly combined 19% stake in the biotech company.
Shares rose 2% to $15.55 after hours.
Corrections Corp. of America's (CXW) board has authorized a
special dividend of $675 million, as part of the prison operator's
conversion to a real-estate investment trust. Shares climbed 4.6%
to $39.70 after hours.
Medley Capital Corp. (MCC) said it will begin offering 4 million
shares and use the proceeds from the offering to repay a portion of
outstanding debt under its revolving credit facility, fund new
investment opportunities and for general corporate purposes. The
investment company had about 28.7 million shares outstanding, as of
Jan. 14. Shares slipped 2.7% to $14.67 after hours.
Starwood Property Trust Inc. (STWD) said it will offer 26.5
million shares, the proceeds of which will be used to buy
additional commercial-mortgage loans and other target assets and
investments. The REIT had more than 135.7 million shares
outstanding as of March 31. Shares were down 3.1% to $27.36 after
hours.
Tetra Tech Inc. (TTEK) said weakness in its Eastern Canadian
operations will reduce revenue and operating income in the second
half of its fiscal year. Shares were down 3.4% to $27.39 after
hours.
Watchlist
Alcoa Inc. (AA) reported a 59% rise in net profit for the first
quarter and said production cutbacks in China are reducing a glut
of aluminum that has been weighing down prices of the metal. The
profit increase was largely due to a tax benefit, changes in the
value of energy contracts and a fire-insurance recovery.
Ambac Financial Group Inc. (ABKFQ) and its affiliates have
agreed to pay $101.9 million to resolve claims brought by the
Internal Revenue Service tied to its treatment of credit-default
swaps, in a settlement that may pave the way for the bond insurer
to emerge from bankruptcy.
AngioDynamics Inc.'s (ANGO) fiscal third-quarter loss narrowed
as the medical-device company recorded stronger sales in its
vascular segment, though margins weakened.
BMC Software Inc. (BMC) said it will record a $33 million to $38
million pretax charge to trim its workforce after it launched a
companywide review in January.
Cousins Properties Inc. (CUZ) plans to offer 14 million shares
and intends to use a significant portion of the proceeds to acquire
an office building in Austin, Texas. The real estate company had
more than 107.7 million shares outstanding as of April 5.
Delcath Systems Inc. (DCTH) said it is expanding its workforce
reductions, as the pharmaceutical and medical-device company looks
to cut costs.
Ecolab Inc. (ECL) has agreed to divest certain assets used by
Champion Technologies Inc. before the companies can merge, the
Department of Justice said in a statement.
Ferro Corp. (FOE) raised its first-quarter and 2013 per-share
earnings guidance as the specialty chemical company cited progress
on its cost-cutting initiatives.
FXCM Inc.'s (FXCM) retail and institutional trading volumes fell
in March from a year earlier and from February, the
foreign-exchange broker said.
Kite Realty Group Trust (KRG) plans to offer 12.5 million shares
of beneficial interest. The REIT intends to use a portion of the
proceeds to repay debt and to help fund the acquisition of
properties. As of April 5, the company had about 77.9 million
shares outstanding.
Mistras Group Inc.'s (MG) fiscal third-quarter earnings fell
9.4% as the company, which tests the safety of critical
infrastructure, reported higher costs, offsetting improved
revenue.
Sourcefire Inc. (FIRE) has named John Becker its new chief
executive, effective immediately, a move that comes six months
after the cybersecurity firm's former CEO retired.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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