Among the companies expected to trade actively in Tuesday's
session are Yum Brands Inc. (YUM), Wet Seal Inc. (WTSLA) and Team
Inc. (TISI).
Yum said it expects its China division's fourth-quarter
same-store sales to fall more than previously expected, as it said
poor publicity from a government review of China poultry supplies
badly impacted its KFC operations there during the last two weeks
of December. Shares sank 5.4% after hours to $64.26.
Wet Seal named John D. Goodman as its new chief executive,
effective Monday, filling a post that had been empty for several
months with someone who has led and sold another teen retailer.
Class A shares rose 3.7% after hours to $2.80, as the appointment
was seen ending a period of tumult for the company.
Team's fiscal second-quarter profit rose 35% as the
industrial-services company saw continued revenue growth,
particularly in its inspection and assessment business. Shares were
up 4.9% after hours to $38.91.
Calumet Specialty Products Partners LP (CLMT) is offering 5
million shares, as it seeks to raise funds to repay debt and for
general purposes. The maker of oil and fuel products recently had
57.6 million shares outstanding. Shares fell 4.4% after hours to
$31.80.
Manufacturing services company Plexus Corp. (PLXS) said it
expects fiscal first-quarter earnings and revenue to fall short of
its previous guidance, due to weak demand in its networking and
communications business. Shares fell 4.3% in after-hours trading to
$24.70.
Solar Capital Ltd. (SLRC) has initiated an offering of 6 million
shares. The investment firm plans to use the proceeds to pay down
borrowings and to acquire debt or equity securities. Solar Capital
recently had around 38.7 million shares outstanding. Shares fell
2.4% after hours to $24.31.
Watchlist:
ConAgra Foods Inc. (CAG) is offering to sell around $240 million
of its shares, in order to help fund its proposed $6.8 billion
acquisition of Ralcorp Holdings Inc. (RAH). The food company
recently had a market capitalization of roughly $12.2 billion.
Dynegy Inc.'s (DYN) chief operating officer Kevin Howell has
stepped down, and the power company said it expects to name his
successor in the first quarter. Mr. Howell will remain at the
company in an advisory role and to support the transition, and will
continue reporting to Chief Executive Robert Flexon.
Lockheed Martin Corp. (LMT) has agreed to acquire certain assets
of the engine-maintenance, repair and overhaul business of
insolvent Canadian aircraft maintenance company Aveos Fleet
Performance Inc. as the U.S. defense contractor seeks to expand in
Canada. Terms of the deal weren't disclosed.
Newcastle Investment Corp.'s (NCT) larger-than-expected offering
of 50 million shares priced at a 2.6% discount to its Monday close.
The company intends to use the proceeds for general corporate needs
and to make several investments.
Weight-loss program provider Medifast Inc. (MED) has named
Timothy G. Robinson as its new chief financial officer, filling a
role that has been in flux in recent months.
Summit Hotel Properties Inc. (INN) has launched an offering of
13 million shares, intending to put the proceeds in part toward
planned acquisitions of Hyatt Hotels Corp. (H) properties, and to
pay down debt. The real-estate investment trust recently had 11.9
million shares outstanding.
Tesoro Logistics LP (TLLP) is offering 8.5 million units
representing limited partner interests. The company plans to use
the proceeds to help fund its proposed acquisition of Chevron
Corp.'s (CVX) northwest products system, including a 760-mile
pipeline. Tesoro recently had 35.5 million units outstanding.
Williams Partners L.P. (WPZ) is seeking regulatory approval to
build an additional natural gas delivery point from its Transco
pipeline to Brooklyn and Queens, New York.
Yingli Green Energy Holding Co. (YGE) said it expects
photovoltaic module shipments for 2012 to be slightly ahead of its
latest guidance, as the Chinese solar-products maker saw strong
results in its fourth quarter.
Write to Kristin Jones at kristin.jones@dowjones.com
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