U.S. Hot Stocks: Hot Stocks to Watch
08 April 2016 - 11:55PM
Dow Jones News
Among the companies with shares expected to trade actively in
Friday's session are Gap Inc. (GPS), Alliance Fiber Optic Products
Inc. (AFOP), and DepoMed Inc. (DEPO).
Gap Inc. (GPS), which is trying to pay down debt as it deals
with a sales slump, on Thursday reported sales declined further
across brands in the latest period. The resulting higher inventory
will pressure profit margin in the current quarter, the retailer
said. Shares declined 6.9% to $25.76 premarket.
Corning Inc. (GLW) has made a $350 million offer, or $18.50 a
share, for Alliance Fiber Optic Products Inc. (AFOP), a deal that
would expand its presence in Asia and strengthen cloud data-center
market position. Shares of Alliance Fiber Optic climbed 19% to
$18.41 premarket.
Starboard Value LP is pushing DepoMed Inc. (DEPO) to consider
selling itself, according to the latest missive by the activist
investor, made public a day after it disclosed a 6.8% stake in the
biopharmaceutical company. Shares of DepoMed rose 18% to
$17.70.
Ruby Tuesday Inc. (RT) on Thursday sharply cut its financial
projections for the year as its third-quarter loss widened more
than fourfold. Shares fell 15% to $4.42 premarket.
Intercept Pharmaceuticals Inc. (ICPT) rose 0.6% to $164.50 in
premarket trading Friday after an FDA panel recommended the
approval of its liver-disease treatment.
U.S. health regulators have approved the use of Abiomed Inc.'s
(ABMD) micro heart pumps in patients with a type of heart failure
known as cardiogenic shock.
MGM Growth Properties LLC on Friday put a price range of $18 to
$21 a share on its initial offering of stock, which could raise as
much as $1.2 billion for the real-estate investment trust being
created by casino operator MGM Resorts International (MGM).
Write to Jenny Roth at jenny.roth@wsj.com and Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
April 08, 2016 09:40 ET (13:40 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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