U.S. Hot Stocks: Hot Stocks to Watch
18 November 2016 - 1:45AM
Dow Jones News
Among the companies with shares expected to trade actively in
Thursday's session are Staples Inc. (SPLS), Western Refining Inc.
(WNR) and Best Buy Co. (BBY).
Staples said profit and revenue fell in the third quarter, hurt
by lagging same-store sales as it works through its turnaround
plan. Shares fell 3.7% to $8.65 in premarket trading.
Oil refiner Tesoro Corp. (TSO) will buy fellow refiner Western
Refining in a deal worth about $4.1 billion as the U.S. refining
market continues faces the declining spread between U.S. and global
oil prices. Western Refining shares rose 22% to $37.14 premarket.
Tesoro shares rose 1.2% to $86.80 premarket.
Best Buy's revenue rose above expectations in the latest
quarter, helped by continued improvement in online revenue, and the
electronics seller guided for a solid fourth quarter. Shares rose
7.8% to $43.60 premarket.
J.M. Smucker Co. (SJM) posted a revenue decline in its latest
quarter, as it faced lower prices and volumes across many of its
units. Still, some lower commodity prices and manufacturing costs
helped profit edge higher. Shares fell 3% to $126.01 premarket.
Spectrum Brands Holdings Inc. (SPB) posted an unexpected drop in
revenue in its most recent quarter as growth in its auto care unit
was offset by declines across its other divisions.
Cisco Systems Inc. (CSCO) showed more signs of pressure on some
of its best-known networking hardware in the latest quarter,
despite growth in smaller businesses it entered more recently.
First Solar Inc. (FSLR) intends to lay off more than one-quarter
of its staff and restructure operations to focus on newer solar
modules, which will lead to at least $500 million in charges and
push the company into the red this year and hurt results over the
next two years.
L Brands Inc. (LB) gave a disappointing forecast for the current
quarter as its core lingerie business showed signs of weakness in
the latest period.
NetApp Inc.'s (NTAP) second-quarter profit results beat
projections as the data-storage company continues to turn around
operations, sending shares rallying after hours.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
November 17, 2016 09:30 ET (14:30 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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