Among the companies with shares expected to actively trade in
Friday's session are Pandora Media Inc. (P), Comtech
Telecommunications Corp. (CMTL) and Maxwell Technologies Inc.
(MXWL).
Pandora bolstered investor confidence Thursday by showing its
costs have mounted at a slower pace as revenue continues to climb
briskly--and quickly followed by announcing the Internet radio
firm's CEO will be stepping aside. Results topped Wall Street
expectations and Pandora's reported content-acquisition costs--a
key indicator for investors and analysts--rose at a slower rate
than in prior quarters. Shares jumped 21% to $14.16 after
hours.
Comtech's fiscal second-quarter earnings fell 59% as the maker
of advanced communication systems said U.S. budget uncertainty hurt
sales broadly. The company also lowered its full-year outlook.
Shares slumped 12% to $24 after hours.
Maxwell said it will restate its financial results for 2011 and
most of 2012 due to errors related to the timing of recognition of
revenue from sales to certain distributors. Shares of the company,
which develops power-based systems and components, sank 13% to
$7.97 after hours.
AngioDynamics Inc. (ANGO) forecast third-quarter earnings below
analyst expectations and cut its sales guidance, as the
medical-device company cited weaker-than-expected procedure volumes
and capital equipment sales. Shares slipped 4.5% to $12.02 after
hours.
Apollo Residential Mortgage Inc. (AMTG) is launching an offering
of 6.8 million shares, with a plan to use the proceeds to acquire
residential mortgage-backed securities and other assets. The
real-estate investment trust recently had around 24.2 million
shares outstanding. Shares fell 2.2% to $22.19 in after-hours
trading.
Arlington Asset Investment Corp. (AI) is offering 3 million
Class A shares, expecting to use the proceeds to acquire
residential mortgage-backed securities and other assets. The
real-estate investment trust had 12.6 million Class A shares
outstanding as of Jan. 31. Shares were off 3.1% at $25.59 after
hours.
AVG Technologies N.V. (AVG) said J.R. Smith will step down as
chief executive after a six-year tenure at the helm of the Internet
and mobile-security provider, which is conducting a search for his
successor. Shares slipped 6.4% to $14.69 after hours.
Ambarella Inc.'s (AMBA) fiscal fourth-quarter profit more than
doubled as the maker of image-processing chips noted growth in the
network security camera market. Shares rose 9% to $13.05 in
after-hours trading Thursday, as results beat Street
expectations.
Activist money manager Carl Icahn boosted his stake in
nutritional-supplement maker Herbalife Ltd. (HLF), another move in
a busy day for the billionaire investor that saw his involvement in
several high-profile corporate sagas. In a filing late Thursday
with the U.S. Securities and Exchange Commission, Mr. Icahn
disclosed that he increased his Herbalife stake to 15.55%, up from
about 13%. Shares were up 1.8% to $41.75 after hours.
Hercules Technology Growth Capital Inc. (HTGC) is offering 7
million shares. The specialty finance firm had around 52.9 million
shares outstanding as of Feb. 25. Shares fell 2.7% to $12.18 after
hours.
Medifast Inc.'s (MED) fourth-quarter income jumped 59% as the
weight-loss company posted an increase in direct sales. But shares
fell 10% after hours to $21.95 as the company's current-quarter
view fell sort of Street expectations.
Shares of Morgan Stanley (MS), Goldman Sachs Group Inc. (GS) and
J.P. Morgan Chase & Co. (JPM) fell in after-hours trading
Thursday after the three firms came in near the bottom of key
capital ratios in the latest round of the Federal Reserve's annual
"stress tests." Morgan Stanley shares slipped 1.6% to $22.86, while
Goldman Sachs shares fell 1% to $155.04 and J.P. Morgan shares were
down 1% to $50.15 after hours. The three firms, scored below the
likes of Bank of New York Mellon Corp. (BK) and Citigroup Inc. (C),
whose stocks climbed 0.7% and 1.5% in after-hours trading. In a
separate release, Citi, whose request to buy back shares was
rejected by the Fed last year, said it has requested to repurchase
$1.2 billion in stock for the year.
Quiksilver Inc.'s (ZQK) fiscal first-quarter loss widened as the
sports outfitter's revenue was dragged down by weakness in the
Americas, though margins edged higher. Shares dropped 9.5% after
hours to $5.69 as results missed expectations.
Sequenom Inc.'s (SQNM) fourth-quarter loss widened as the life
sciences company's margins weakened and expenses increased, masking
revenue growth. Shares slipped 3.1% to $4.35 after hours as the
loss was wider than analysts expected.
Continental Grain Co., one of the biggest shareholders in
Smithfield Foods Inc. (SFD), sent a letter to the pork company's
board Thursday urging it to consider strategic changes including
breaking up the company. Smithfield shares were up 2.2% to $25.23
after hours.
Workday Inc.'s (WDAY) fiscal fourth-quarter loss widened as the
enterprise-software company recorded an increase in expenses,
though revenue continued to strengthen. Shares slipped 2.6% to $60
after hours as the company offered current-quarter revenue guidance
mostly below analyst expectations.
Watchlist:
Cable operator Charter Communications Inc. (CHTR) said that
funds affiliated with Apollo Capital Management L.P. plan to sell
6.2 million of their roughly 24 million shares, and funds
affiliated with Oaktree Opportunities Investments L.P. have agreed
to sell 3.1 million shares of around 12.1 million shares. Charter
recently had around 101.2 million shares outstanding.
Cooper Cos.'s (COO) fiscal first-quarter profit rose 37% as the
company's contact-lens business continued to expand, though margins
shrank.
Del Frisco's Restaurant Group Inc. (DFRG) said a secondary
offering of about 4.8 million shares priced at a 4.6% discount to
Thursday's close. The shares, which are being sold by the
steakhouse operator's largest shareholder Lone Star Funds, priced
at $17 a piece.
Finisar Corp. (FNSR) swung to a fiscal third-quarter loss as
revenue declined, and as the telecommunication-equipment provider
also posted higher expenses and income-tax provisions.
H&R Block Inc.'s (HRB) fiscal third-quarter loss widened as
a delay to the start of the U.S. tax season affected the
tax-services provider's top line.
Moody's Investors Service placed Medtronic Inc.'s (MDT) credit
ratings under review for a possible downgrade, citing risks
associated with constraints on the medical-devices company's core
cardiac rhythm management and spine businesses.
NXP Semiconductors N.V. (NXPI) said some of its principal
shareholders, including affiliates of AlpInvest Partners B.V., Apax
Partners LLP, Bain Capital Partners LLC and Silver Lake Technology
Management L.L.C., have launched an offering of 25 million shares.
NXP, which had around 251.8 million shares outstanding as of Feb.
28, won't receive any proceeds from the sale.
Moody's Investors Service downgraded the ratings of Orchard
Supply Hardware Stores Corp. (OSH) by one notch, citing very weak
credit metrics and the home-improvement retailer's lack of
meaningful progress in addressing maturing debt.
Pharmacyclics Inc. (PCYC) has launched an offering of 2.2
million shares, representing around 3.1% of the company's
outstanding shares. The biopharmaceutical company intends to use
the proceeds for the commercialization of its cancer treatment
Ibrutinib, to advance its clinical pipeline and for other general
purposes.
Offshore-drilling company Rowan Cos. (RDC) has promoted Thomas
P. Burke to the role of president, with the expectation that he
will succeed W. Matt Ralls as chief executive in mid-2014.
Texas Instruments Inc. (TXN) raised the bottom end of its
first-quarter earnings and revenue guidance.
TherapeuticsMD Inc. (TXMD) plans to offer $50 million of its
shares, subject to market conditions. The company, which makes
prenatal vitamins and cosmetics, recently had a market
capitalization of roughly $357 million.
Thor Industries Inc.'s (THO) fiscal second-quarter income rose
45% on strong recreational-vehicle sales.
United Continental Holdings Inc.'s (UAL) consolidated traffic
slipped 3.4% in February as the carrier's capacity also
decreased.
Ventas Inc. (VTR) said it may sell as much as $750 million of
its shares as it raises funds for general purposes including
acquisitions and paying down debt. The health-care-focused
real-estate investment trust recently had a market capitalization
of around $20.7 billion.
WuXi PharmaTech Inc.'s (WX) fourth-quarter profit rose 1.4% as
the drug-research contractor posted stronger sales.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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