Among the companies with shares expected to actively trade in Wednesday’s session are the Container Store Group Inc.(TCS), Celgene Corp.(CELG) and American Airlines Group Inc.(AAL)
Container Store lowered its full-year financial projections amid a “retail funk” that has hampered sales growth even as its first-quarter loss narrowed. Shares fell 14% to $23.20 premarket.
Celgene said Wednesday its Phase 3 trial of a drug intended to treat a form of long-term arthritis didn’t meet its primary endpoint after a certain period, although results showed improvement beyond that. Shares fell 2% to $84.00 premarket.
American Airlines said it will book a charge of $330 million in its second quarter tied to the sale of its portfolio of fuel hedging contracts, along with a number of other one-time charges. The company, meanwhile, also reported its passenger traffic rose 1% in June from a year earlier on increased capacity. Shares rose 5.8% to $42.60 premarket.
Silicon Image Inc.(SIMG) cut its revenue outlook for the second quarter amid lower-than-expected shipments to a significant customer and a delay of certain expected royalty revenue. Shares fell 10% to $4.49 in recent premarket trading.
American depositary shares of Portugal Telecom (PT) SGPS SA tumble premarket amid criticism from Brazil’s state development bank BNDES relating to an investment by the telecommunications group in debt issued by Espirito Santo International. Shares fell 6.1% to $2.79 premarket.
MSC Industrial Direct Co.(MSM) said its fiscal third-quarter earnings edged higher will revenue increased following higher demand. Still, shares dropped 5.8% to $87.89.
AeroVironment Inc.(AVAV) swung to a fourth-quarter profit as the drone maker reported a surge in sales and raised its outlook for the year. Shares rose 4.3% to $32.29 premarket.
Alcoa Inc.(AA) swung to second-quarter profit, driven by growth in its engineered products segment and as its primary metals business also returned to the black. Shares rose 2.4% to $15.20 premarket.
Gigamon Inc.(GIMO) lowered its second-quarter revenue guidance as the networking-hardware company said it ran into challenges closing deals in its pipeline in the later end of the period. Shares fell 31% to $12.64 premarket.
Salix Pharmaceuticals Ltd.(SLXP) agreed to combine with an Ireland-based unit of Cosmo Pharmaceuticals SpA(COPN.EB) in an inversion deal that is expected to come with tax benefits. Salix shares slipped 5.3% to $130.00 premarket.
Bob Evans Farms Inc.(BOBE) reported a lower profit for its fiscal fourth quarter and its fourth consecutive decline in quarterly same-store sales, while also cutting its earnings guidance for the new year.
Coty Inc.(COTY) unveiled a new organizational structure built around categories and regions, as the beauty-products maker looks to improve profitability.
Cummins Inc.(CMI) appointed the president of its engines business, Rich Freeland, as its chief operating officer, and the company also unveiled a 25% dividend increase and the buyback of as much as an additional $1 billion of its stock.
Energizer Holdings Inc.(ENR) will close its feminine-care products facility in Montreal by early 2017, consolidating operations in Delaware. The move is part of ongoing restructuring.
International Paper Co.(IP) said Tuesday its board approved an expansion of the company’s existing share-repurchase program by as much as $1.5 billion.
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