Among the companies with shares expected to actively trade in
Wednesday's session are Guidewire Software Inc. (GWRE), Facebook
Inc. (FB) and FedEx Corp. (FDX).
Guidewire Software swung to a fiscal fourth-quarter profit as
the insurance software maker reported broad-based revenue growth,
led by gains in services revenue. Shares surged 13% to $33.15
premarket as results topped analyst expectations.
Jefferies initiated coverage of social networking site Facebook,
starting the stock with a buy rating and a $30 price target. "With
a potential mix of unprecedented scale, high engagement and social
plus behavioral targeting, we think Facebook is a must-buy media
for marketers, as they follow users online," the firm said in a
note to clients. Shares rose 2.5% to $18.17 premarket.
FedEx cut its fiscal first-quarter earnings view, citing a weak
global economy affecting its express business. Wells Fargo says the
update means "FedEx Express may have seen a notable deterioration
in August." The firm added that "recent global PMIs seem to support
this notion, and we do not see any near-term catalysts to reverse
the slowing trends. We have also recently become less comfortable
with the domestic market, which may lead to less robust support" of
FedEx's freight and ground operations for the rest of 2012. Shares
fell 2.9% to $85 premarket.
Francesca's Holdings Corp.'s (FRAN) fiscal second-quarter income
more than doubled as the women's fashion retailer saw same-store
sales continued to surge. The company also said Chief Executive
John De Meritt, a company founder, decided to retire, and President
Neill P. Davis, who joined the company last month, will become CEO,
starting Jan. 1, 2013. Shares slid 4.6% to $34.41 premarket.
DCT Industrial Trust Inc. (DCT) has commenced an offering of
16.5 million shares and plans to use proceeds for future
acquisitions, development activities, repayment of debt and general
corporate purposes. Shares were off 3.4% to $6.20 premarket.
Pluristem Therapeutics Inc. (PSTI), an Israel-based developer of
placenta-based cell therapies, said its Placental eXpanded cells
were successfully administered to a third patient in Hadassah
Medical Center, potentially suggesting that the cells may have
significant potential to treat a range of indications of bone
marrow diseases. Shares jumped 9.6% to $4.59 in premarket
trading.
Orexigen Therapeutics Inc. (OREX) shares rose 2.2% to $4.70
premarket as the drug developer said it will close enrollment of
new patients into its study of cardiovascular risks associated with
its weight-loss treatment Contrave in the fourth quarter of 2012,
sooner than initially expected. In July, the company had said it
expected to complete enrollment in the first quarter of next year,
potentially cutting in half the time needed before performing an
interim analysis of the data.
NuStar Energy L.P. (NS) said it will offer 6.2 million units and
will use proceeds for general partnership purposes. Shares of the
company, a pipeline-and-storage concern that is also one of the
largest U.S. asphalt companies, sank 4.9% to $48.48 premarket.
Green Dot Corp. (GDOT) shares rose 8.8% to $12.05 in premarket
trading as Piper Jaffray upgraded the money management services
provider's stock from to overweight from neutral. "We believe the
market has largely priced in competitive concerns, without
considering the potential benefits of new distribution deals,
channels (education, digital), and the checking account product,"
the firm said in a note to clients, adding that specific deals with
Sallie Mae, Rush Card and Dollar Tree Inc. (DLTR) aren't included
in Wall Street expectations.
Watchlist:
3M Co. (MMM) has abandoned its planned acquisition of Avery
Dennison Corp.'s (AVY) office and consumer-products business after
being threatened with an antitrust lawsuit by the Justice
Department, the agency said late Tuesday.
Bloomin' Brands Inc.'s (BLMN) second-quarter profit rose 25% as
the operator of Outback Steakhouse saw sales grow across its core
brands.
Capital One Financial Corp. (COF) said its largest shareholder,
ING Groep NV (ING, INGA.AE), plans to sell all of its 54 million
shares in the company.
CNO Financial Group Inc. (CNO) plans to offer $250 million of
senior notes as part of a broader plan to improve its balance sheet
and financial flexibility.
DeVry Inc. (DV) has authorized the buyback of an additional $100
million in shares through the end of December 2014, as it struggles
to stem shareholder losses.
Finisar Corp. (FNSR) swung to a fiscal first-quarter loss as the
telecommunications-equipment provider was hurt by higher expenses
and as revenue weakened. The company's per-share earnings guidance
for the current quarter missed expectations.
Forest City Enterprises Inc. (FCEA, FCEB) swung to a fiscal
second-quarter loss as the real-estate company posted significant
charges related to divestitures, though comparable occupancy rates
continued to climb.
Massachusetts Mutual Life Insurance Co. has agreed to pay $400
million to buy the retirement-plans business of Hartford Financial
Services Group Inc. (HIG), the latest step in the Connecticut
insurer's effort to narrow its focus.
Kirby Corp. (KEX) agreed to acquire Allied Transportation Co.
and two affiliated companies for about $116 million in cash, as the
tank-barge operator seeks to expand the petrochemical segment of
its offshore business.
Liberty Media Corp.'s (LMCA, LMCB) Starz LLC unit plans to offer
$500 million of senior notes that mature in 2019 to raise funds for
general corporate purposes, such as the repayment of other
debt.
Marsh & McLennan Cos. (MMC) has named J. Michael Bischoff as
its chief financial officer, making permanent a role he has held at
the insurance brokerage on an interim basis since March.
News Corp. (NWS, NWS.AU, NWSA) nominated former U.S. Labor
Secretary Elaine Chao and former Colombian President Alvaro Uribe
to join its board as it undergoes a broader shakeup in the
board.
Pep Boys-Manny Moe & Jack's (PBY) fiscal second-quarter
profit more than doubled as the auto-care company was helped by a
breakup fee paid by a private-equity firm after a buyout deal
soured.
Pfizer Inc. (PFE) said U.S. regulators have approved the use of
bosutinib as a treatment of adult leukemia.
Repros Therapeutics Inc. (RPRX) entered into an agreement with
several institutional investors to sell about 2.1 million shares of
its stock at $11 a piece, a 16% discount to the stock's Tuesday
closing price.
SemiLEDS Corp. (LEDS) said its President and Chief Operating
Officer Anh Chuong Tran has transitioned to the role of chief
scientist, in a management shakeup that comes as the company
struggles to stem its operational losses.
SPS Commerce Inc. (SPSC) said it plans to offer 1.6 million
shares to raise funds to pay down debt and for working capital and
general corporate purposes.
Teekay LNG Partners L.P. (TGP) plans to offer 4.6 million units
to raise money for general partnership purposes, which may include
potential future new building deliveries or vessel
acquisitions.
Canada's TransAlta Corp. (TAC) is significantly expanding its
operations in Western Australia with the $318 million purchase of
the 125-megawatt Solomon power station from Fortescue Metals Group
Ltd. (FMG.AU).
Verso Paper Corp. (VRS) said it has decided to end further
discussions with NewPage Corp. or its creditors regarding a
potential merger between the coated-paper makers.
Write to Anna Prior at anna.prior@dowjones.com
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