Among the companies with shares expected to actively trade in
Wednesday's session are Alcoa Inc. (AA), Yum Brands Inc. (YUM) and
Knight Transportation Inc. (KNX).
Alcoa swung to a third-quarter profit, as the aluminum maker
reported lower costs that bolstered the bottom line, though revenue
fell slightly due to weaker shipments. Results easily topped
analyst expectations, sending shares up 3% to $8.18 in after-hours
trading.
Yum's third-quarter profit fell 68%, as the parent company of
KFC, Taco Bell and Pizza Hut continued to take a hit from its
Chinese operations. Shares were down 7% to $66.65 after hours, as
the company lowered its expectations for its Chinese division, and
its results came in below Wall Street expectations.
Knight Transportation cut its third- and fourth-quarter earnings
guidance, as a variety of factors hurt the truckload carrier's
results, including weak freight demand and lower miles per tractor.
Shares dropped 5.8% to $15.50 after hours.
K12 Inc. (LRN) on Tuesday said its average student enrollments
for the fiscal first quarter came in below the company's
expectations. Shares were off 18% to $23.50 in after-hours trading,
as the online-education company also offered revenue guidance for
the fiscal year below Wall Street estimates.
Shares of Lpath Inc. (LPTN) slid in after-hours trading Tuesday,
after the biotechnology company warned Pfizer Inc. (PFE) may divest
itself of its exclusive option to co-develop the smaller firm's
leading product candidate. Lpath's stock fell 9.8% to $4.40 in
after-hours trading.
Watch List:
Metals distributor A.M. Castle & Co. (CAS) issued
preliminary third-quarter results that fell short of analyst
expectations due to soft selling prices and challenging industry
conditions.
Private-equity firm Apollo Global Management LLC (APO) is trying
to sell the professional business of McGraw-Hill Education, which
it bought earlier this year from the company now known as McGraw
Hill Financial Inc. (MHFI), according to people familiar with the
matter.
Callidus Software Inc. (CALD), a provider of sales and marketing
software, raised its 2013 revenue outlook on expectations the
company's third-quarter revenue will come in stronger than
previously expected.
Biopharmaceutical development firm CytRx Corp. (CYTR) and
early-stage diagnostics company Cancer Genetics Inc. (CGIX)
separately disclosed plans to sell common stock. CytRx is aiming to
raise money to fund its clinical trials, while Cancer Genetics
wants to hire more sales and marketing personnel, as well as fund
research and development.
Jos. A. Bank Clothiers Inc. (JOSB) has approached Men's
Wearhouse Inc. (MW) about a combination that would create a
nationwide powerhouse in men's apparel, according to people
familiar with the matter. It isn't clear whether the approach, made
recently, will lead to a deal, or what form any such tie-up would
take, The Wall Street Journal reported.
Mistras Group Inc.'s (MG) fiscal first-quarter earnings rose 32%
on revenue growth and a boost from a favorable acquisition-related
adjustment.
Write to John Kell at john.kell@wsj.com
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