Among the companies whose shares are expected to actively trade
in Thursday's session are Goodrich Corp. (GR), Red Hat Inc. (RHT)
and CarMax Inc. (KMX).
United Technologies Corp. (UTX) agreed to buy
aircraft-components maker Goodrich for $16.4 billion in cash, the
company's biggest-ever acquisition and a signature deal for Chief
Executive Louis Chenevert. Goodrich shares jumped 10% to $120.80,
while United Technologies' shares slipped 4.5% to $71.50
premarket.
Red Hat's fiscal second-quarter profit jumped 69% as the
software company reported strong revenue growth and higher
operating margins. Shares rose 5.4% to $42.45 in premarket trading
as the results easily topped the company's expectations.
CarMax's fiscal second-quarter earnings rose 3.7% as the
used-car dealership chain reported higher used and wholesale
vehicle sales, but the results missed estimates for the first time
in about two and a half years amid a decline in customer traffic
and same-store sales. The company attributed the sales drop to the
recent economic slowdown and further weakness in consumer
confidence. Shares fell 8% to $25.25 in recent premarket
trading.
Herman Miller Inc.'s (MLHR) fiscal first-quarter earnings
climbed 53% on better-than-forecast revenue growth, as the maker of
office furniture's margin improved because of price increases in
May and another strong quarter of higher output. Shares were up
8.4% at $17.50 in light premarket trading on its
better-than-predicted earnings and revenue growth.
Computer peripherals maker Logitech International SA (LOGI,
LOGN.VX) Thursday issued a third successive profit warning, saying
2012 fiscal sales and profit would be lower than expected, but
Chairman and acting Chief Executive Guerrino De Luca said no
further downgrades would follow. Logitech fell 14% to $7.52
premarket.
Enbridge Energy Partners LP (EEP) said Wednesday it plans to
offer up to about eight million of its Class A units, with proceeds
expected to help fund capital-expansion projects and general
corporate purposes. Units of the company, which has about 219.5
million units outstanding as of July 29, slid 5.3% to $27.55 in
premarket trading.
Steelcase Inc.'s (SCS) fiscal second-quarter profit soared as
sharply higher revenue in the Americas offset weak European sales.
Shares still fell 8.2% premarket, to $6.25, as the office-furniture
maker reported earnings at the low end of its previous
guidance.
Standard & Poor's said it will move fertilizer maker Mosaic
Co. (MOS) to its S&P 500 index, replacing National
Semiconductor Corp. (NSM) ahead of its acquisition by Texas
Instruments Inc. (TXN). Mosaic also said it intends to effect a
public offering, offering 18 million shares of common stock plus up
to an additional 2.7 million shares subject to the underwriter's
overallotment option. Shares of Mosaic fell 2.1% to $62.25
premarket.
FedEx Corp.'s (FDX) fiscal first-quarter earnings rose 22% on
the continued strength of ground shipments, though the shipping
company said slowing global economic growth weighed on volumes and
it outlined plans to increase some express-service rates Jan. 2.
Shares slipped 0.6% to $72.10 as the company cut its full-year
earnings estimate by 10 cents.
Rite Aid Corp.'s (RAD) fiscal second-quarter loss narrowed more
than expected as the drug-store chain's same-store sales improved
for a third straight quarter and overhead costs declined. Shares
added 0.9% to $1.08 premarket.
Watch List:
Bed Bath & Beyond Inc.'s (BBBY) fiscal second-quarter
earnings rose 26% as the housewares retailer continued to improve
its margin and increase sales, while it kept overhead costs
relatively steady. The company raised its full-year earnings view
but predicted current-quarter revenue growth to be slower than
analysts' estimates.
Consumer products company Church & Dwight Co. (CHD) will
partner with two chemicals companies to form a new entity aimed at
the growing air pollution control market. Church & Dwight,
alongside partners FMC Corp. (FMC) and a part of Tata Chemicals
Ltd. (500770.BY) plan to form Natron(x) Technologies to produce,
sell and distribute sorbents to users of dry sorbent injection
technology.
Education Realty Trust Inc. (EDR) purchased a 90% interest in a
collegiate housing community in California for cash, based on a
$38.1 million property value.
H.B. Fuller Co.'s (FUL) fiscal third-quarter profit rose 22% as
price hikes and cost cutting helped the maker of adhesive, sealant
and paint products boost its margins despite higher raw-materials
costs. The firm's revenue topped expectations.
Standard & Poor's Ratings Services put junk-rated Orbitz
Worldwide Inc.'s (OWW) ratings on watch for possible downgrade
because of financial distress at its largest shareholder and
business partner, Travelport Holdings Ltd.
Salesforce.com Inc. (CRM) said it paid about $50 million to
acquire Assistly, a deal that allows the software firm to offer
cloud services to small and emerging businesses.
Scholastic Corp.'s (SCHL) fiscal first-quarter loss narrowed on
slightly improved margins and higher sales of education products to
schools, as the children's book publisher disclosed plans to cut
costs in non-digital areas by $15 million a year.
Warner Chilcott PLC (WCRX) said a U.S. court ruling will prevent
Mylan Inc. (MYL) from releasing its generic version of the
pharmaceutical company's Doryx acne drug until pending patent
litigation is decided.
-Edited by Corrie Driebusch and Caitlin Nish; write to
corrie.driebusch@dowjones.com and caitlin.nish@dowjones.com