Among the companies with shares expected to actively trade in
Thursday's session are Mattel Inc. (MAT), Morgan Stanley (MS) and
Microsoft Corp. (MSFT).
Toy maker Mattel reported lower earnings in the second quarter,
weighed down in part by muted sales of Barbie dolls. The company's
results for the quarter badly missed expectations, pushing its
shares down 7.8% to $36.00 premarket.
Morgan Stanley said its second-quarter profit nearly doubled as
the firm was helped by a tax benefit, while continued strong
results from the wealth management and investment banking
businesses helped offset a slump in trading revenue. Shares moved
up 1.7% in recent premarket trading as results beat analyst
estimates.
Microsoft said it plans to eliminate up to 18,000 jobs over the
next year and book a restructuring charge of $1.1 billion to $1.6
billion, part of a sweeping plan to streamline its operations
following the recent acquisition of Nokia's devices and services
business. Microsoft shares rose 2.7% to $45.28 premarket.
Shares in SAP SE (SAP, SAP.XE) rose after the German software
company said revenue from cloud applications rose rapidly in the
second quarter, despite reporting a drop in profit. American
depositary shares rose 2.1% to $81.30 premarket.
AutoNation Inc. (AN), the largest U.S. chain of auto dealers,
reported its second-quarter net income climbed 12% to $100.4
million, or 83 cents a share, bolstered by a strong spring selling
season and growth across all business lines. Still, shares fell
3.3% to $58.85 premarket as earnings didn't rise as much as
analysts anticipated.
Orbitz Worldwide Inc. (OWW) said its largest shareholder,
Travelport Ltd., will look to cut its stake in the travel-booking
website in half, as it also projected strong revenue for its second
quarter. The company's shares fell 5.8% to $8.45 premarket.
SanDisk Corp. (SNDK) said its second-quarter earnings rose 4.6%
as the flash-memory maker posted revenue growth and stronger
margins. However, analysts noted the company's third-quarter
revenue guidance is weak due to capacity constraints. Shares
slipped 7.9% to $99.30 premarket.
Select Comfort Corp.'s (SCSS) second-quarter profit dropped on
higher operating expenses that masked an increase in sales. Still,
results beat Wall Street expectations and shares jumped 12% to
$21.30 in premarket trading.
Baker Hughes Inc.'s (BHI) second-quarter income climbed 47%, as
the oil-field services company reported stronger revenue in every
region except Latin America. Results topped Wall Street's
expectations, pushing shares up 1.6% to $75.60 premarket.
Blackstone Group LP (BX) said its second-quarter earnings more
than doubled, as the company continued to reap big gains selling
assets from its private-equity business into the rising stock
market. Shares rose 2.6% to $34.86 premarket.
KeyCorp (KEY), one of Ohio's largest lenders, said its
second-quarter profit rose 7.4% as its revenue and loan portfolio
grew on the back of strong commercial lending. Shares slipped 1.1%
to $14.04 premarket, however, as earnings attributable to
shareholders slightly missed analyst estimates.
Danaher Corp. (DHR) said it second-quarter earnings rose 9.7% as
the manufacturer ramped up acquisitions while also seeing organic
growth. However, the company's third-quarter forecast was below
analysts' views. Shares fell 3.8% to $75.50 premarket.
Sherwin-Williams Co. (SHW) said its second-quarter earnings
jumped 13% as revenue growth was driven by higher sales volume in
its paint stores and benefits from acquisitions. The results were
in line with the higher end of the company's expectations, while
its outlook for the year improved. Shares rose 2.4% to $206.50
premarket.
United Rentals Inc.'s (URI) second-quarter earnings rose 13% as
the equipment-rental company said it is seeing "vigorous activity"
in nonresidential construction sectors including energy. The
company boosted the lower end of its projected revenue range for
2014. Shares added 2.7% to $111.12 premarket.
Watchlist:
Alliance Data Systems Corp. (ADS) reported its second-quarter
profit jumped 20% as its private label and services and LoyaltyOne
businesses drove strong gains in revenue. The company also boosted
its full-year outlook after the quarter's results surpassed
expectations
Shopping-center owner AmREIT Inc. (AMRE) has hired Jefferies LLC
to advise its board in evaluating the $433 million unsolicited
takeover bid from Regency Centers Corp. (REG).
Baxter International Inc. (BAX) said its second-quarter earnings
fell 12% as higher costs and expenses offset a strong gain in
revenue, which beat expectations.
Dover Corp. (DOV) said its fiscal second-quarter earnings fell
35% on higher costs, but the manufacturer raised its outlook for
the year on what it called an improving market. Chief Executive
Robert A. Livingston said the company's growing bookings and
backlog reflect more positive market conditions.
EBay Inc. (EBAY) grew its revenue and customer roll in the
second quarter, amid a massive security breach and a since-resolved
dispute with activist investor Carl Icahn.
Entergy Corp. (ETR) projected higher earnings for its second
quarter, helped by strength at its wholesale commodities and
generation businesses, though the estimate fell below current
average analyst views.
Fifth Third Bancorp (FITB), a Cincinnati, Ohio-based regional
lender, reported a 26% decrease in second-quarter profit as its
mortgage-banking revenue declined and it recorded
litigation-related charges.
J. M. Smucker Co. (SJM) is increasing its quarterly dividend
10%, citing confidence in its long-term growth.
Kinder Morgan Inc. (KMI) said second-quarter profit rose 2.5%,
though the U.S. pipeline company's growth was muted by a comparison
with a year earlier period that included a big one-time gain.
Las Vegas Sands Corp.'s (LVS) second-quarter profit rose 27% as
the casino and resort operator said its Macau locations had strong
growth in the mass gaming and nongaming segments.
M&T Bank Corp. (MTB), whose pending acquisition to acquire
Paramus, N.J.-based bank Hudson City Bancorp Inc. has been on hold
for almost two years, reported an 18% decrease in second-quarter
profit as mortgage-banking revenue declined.
Student loan manager Navient Corp.'s (NAVI) profit dropped in
the second quarter, the first reporting period following its
spinoff from SLM Corp., better known as Sallie Mae.
An activist firm, Legion Partners Asset Management LLC, said
that it is seeking substantial changes at Perry Ellis International
Inc. (PERY), including the separation of the clothing producer's
chairman and chief executive roles.
Philip Morris International Inc. (PM) said its second-quarter
profit declined, as the cigarette maker continued to battle falling
cigarette shipment volumes in the majority of its regions.
UnitedHealth Group Inc. (UNH) reported a better-than-expected
increase of 7.1% in second-quarter revenue as the biggest U.S.
health insurer saw growth in its public and senior markets.
W.W. Grainger Inc. (GWW) said its fiscal second-quarter earnings
fell about 5% on employee-related restructuring costs, though the
bottom line beat Wall Street expectations. The company narrowed its
earnings outlook for the year.
Yum Brands Inc.'s (YUM) second-quarter earnings rose 19% as the
parent company of KFC, Taco Bell and Pizza Hut reported that sales
and margins in its China operations continued to improve.
Write to Anna Prior at anna.prior@wsj.com and Maria Armental at
maria.armental@wsj.com
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