Among the companies with shares expected to actively trade in
Thursday's session are E*Trade Financial Corp. (ETFC), Men's
Wearhouse Inc. (MW) and Flotek Industries Inc. (FTK).
E*Trade said its largest shareholder, Citadel LLC, which twice
helped rescue the online brokerage and later pushed it to pursue a
sale, is selling its entire 9.6% stake in the company, exiting an
investment it made at the height of E*Trade's mortgage woes over
five years ago. Shares slipped 5.4% to $11.18 premarket.
Men's Wearhouse's fiscal fourth-quarter loss narrowed as revenue
at the apparel retailer improved. Shares rose 14% to $33.20
premarket as the company also said it is considering strategic
alternatives for its K&G business.
Flotek intends to partner with the Oman-based oil and gas
concern Gulf Energy LLC to build an oilfield chemistry production
facility and create a research and development organization focused
on the Middle East and North Africa. Flotek estimates construction
costs for the facility at up to $10 million. Shares fell 3.7% to
$13.88 premarket.
Vera Bradley Inc.'s (VRA) fiscal fourth-quarter earnings rose
25% as the handbag designer's revenue strengthened, and as the
latest period had an additional week compared with the year-ago
quarter. Shares were down 6.4% to $23.30 premarket as the company
gave downbeat guidance for the current quarter and earnings
projections for the full-year mostly below analyst
expectations.
Kirkland's Inc.'s (KIRK) fiscal fourth-quarter earnings fell
6.1% as the discount home-decor retailer saw higher costs offset
improved revenue and weaken margins. "Consistent with broader
retail trends to date, we have started the year off on a more
cautious note and expect that outlook to continue in the first half
of fiscal 2013," said Chief Executive Robert Alderson. The company
also said that Mr. Alderson plans to retire in February 2014.
Shares fell 3% to $11.15 premarket.
Delcath Systems Inc. (DCTH) plans to offer as much as $50
million of its stock, using Cowen and Co. as its sales agent. The
medical-device recently had a market capitalization of around $147
million. Shares fell 6.3% to $1.80 in premarket trading.
SS&C Technologies Holdings Inc. (SSNC) said its two biggest
shareholders will offer 7.75 million shares. The company recently
had around 78.9 million shares outstanding, according to FactSet.
Shares fell 4.6% to $26.46 in premarket trading.
Corporate Office Properties Trust (OFC) lowered its full-year
and first-quarter guidance to account for losses incurred from the
early repayment of debt. Shares slipped 1.3% to $26.89 premarket as
the real-estate investment trust also unveiled a 3.9 million share
offering. The offering priced at $27.25 apiece, matching Corporate
Office's Wednesday closing price.
Development stage nanotechnology company Arrowhead Research
Corp. (ARWR) said that a study of its RNAi-based candidate ARC-520
in a chimpanzee chronically infected with the human hepatitis B
virus supports findings from rodent models indicating that it can
knock down hepatitis B virus DNA and key viral antigens. Shares
rose 12% to $2.70 premarket.
Anadigics Inc. (ANAD) is offering to sell an undisclosed number
of shares. The company, which makes power amplifiers and other
radio-frequency components, intends to use the proceeds for working
capital and other general purposes. Shares fell 9.5% to $2.00
premarket.
Watchlist:
Land manager Alico Inc. (ALCO) has engaged Deutsche Bank
Securities Inc. to give it financial advice as it considers a
potential sale of the company, among other strategic options.
Avon Products Inc. (AVP) said it has completed refinancing
activities and has entered into a $1 billion four-year unsecured
revolving credit agreement, helping the door-to-door cosmetics
vendor improve its balance sheet.
Cerus Corp. (CERS) plans to offer an undisclosed number of
shares, as it raises funds for clinical development of its
Intercept system, which is intended to improve the safety of
donated blood.
Christopher & Banks Corp.'s (CBK) fiscal fourth-quarter loss
narrowed as the women's clothing retailer benefited from fewer
charges and as sales rose.
Coldwater Creek Inc.'s (CWTR) fourth-quarter loss widened as the
retailer reported charges tied to a leadership transition, lower
sales and weaker margins.
Hot Topic Inc.'s (HOTT) fiscal fourth-quarter earnings climbed
35% as the teen-apparel retailer reported stronger sales at both
its namesake and Torrid divisions, as well as improved margins.
SandRidge Energy Inc. (SD) agreed to fire its chief executive or
give control of its board to an activist shareholder, settling a
closely watched proxy battle amid an outbreak of investor unrest in
the oil patch.
Sigma Designs Inc.'s (SIGM) fiscal fourth-quarter loss widened
despite higher revenue at the chip manufacturer, as restructuring
and cost-reduction expenses hurt its bottom line.
Sucampo Pharmaceuticals Inc.'s (SCMP) fourth-quarter earnings
soared as the drug manufacturer pharmaceutical company received a
$15 million milestone payment from Abbott Japan Co. for the sale of
its drug to treat constipation.
Target Corp. (TGT) launched cash tender offers for up to $1.2
billion in several series of notes, as the retail giant seeks to
refinance its debt.
An offering of 8.5 million U.S. Silica Holdings Inc. (SLCA)
shares sold by GGC USS Holdings LLC priced at a 3.5% discount to
the company's Wednesday closing price.
Moody's Investors Service has put VeriFone Systems Inc. (PAY) on
review for a potential downgrade in the wake of a leadership
shake-up that followed missteps by the maker of card-payment
systems.
Write to Anna Prior at anna.prior@dowjones.com
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