Among the companies with shares expected to actively trade in
Wednesday's session are Caterpillar Inc. (CAT), Boeing Co. (BA) and
Motorola Solutions Inc. (MSI).
Caterpillar's third-quarter earnings fell 44% as the maker of
mining and construction equipment said weak demand for mining
equipment continued to weigh on results. Results missed
expectations, and the world's largest seller of bulldozers,
excavators and wheel loaders lowered its full-year guidance,
sending shares down 5% to $84.74 premarket.
Boeing's third-quarter earnings rose 12% as strength in its
commercial aircraft business offset weaker profits at its defense
division. The company raised its per-share earnings estimate for
the year as results beat views. Shares edged up 2.8% to $125.90
premarket.
Motorola Solutions' third-quarter earnings rose 49% as the
company posted significantly lower tax costs thanks to foreign tax
credits, though revenue was down. The bottom line beat views, and
the company guided for strong earnings for the year. Shares climbed
3.5% to $62.57 premarket.
American Realty Capital Properties Inc. (ARCP) agreed to buy
Cole Real Estate Investments Inc. (COLE) for about $7 billion,
joining together two real-estate investment trusts. The expanded
company will include a combined portfolio of more than 3,700
properties with over 100 million square feet in 49 states and
Puerto Rico. Cole shares surged 16% to $14.91 premarket, while
American Realty climbed 5.8% to $14.12.
Repros Therapeutics Inc. (RPRX) pushed back its planned new drug
application for its low-testosterone treatment, following a request
from the U.S. Food and Drug Administration to discuss recent trial
data. The company now expects to submit its new drug application
for Androxal in the second half of next year. Shares were down 30%
at $16.70 premarket.
Toy maker Jakks Pacific Inc. (JAKK) posted better-than-expected
results, including revenue not falling as much as feared and profit
surprisingly rising. Shares surged 22% to $6.03 premarket.
Broadcom Corp.'s (BRCM) third-quarter profit rose 44% as the
chip maker's margins and revenue increased, but it offered weak
revenue guidance for the current quarter. Shares were down 8.3% to
$24.89 premarket as the company's fourth-quarter revenue projection
missed analyst expectations.
Corning Inc. (GLW) said it will take control of a joint venture
with Samsung Electronics Co.'s (005930.SE) business that makes LCD
glass in Korea and receive a $1.9 billion investment in a series of
transactions to strengthen collaboration between the two companies.
Shares jumped 21% to $18.50 in premarket trading.
Panera Bread Co.'s (PNRA) third-quarter profit jumped 17% as
higher prices lifted same-store sales at company-owned stores,
though the amount of transactions recorded at those restaurants
declined. Same-store sales growth at company-owned locations missed
Panera's July projection, and the company trimmed its outlook
targets. Shares fell 4.3% to $155.40 in premarket trading.
Apollo Group Inc.'s (APOL) fiscal fourth-quarter profit tumbled
71% as the for-profit education company reported a double-digit
drop in enrollment at the University of Phoenix. But the company's
shares jumped 19% to $24.93 in premarket trading as results for the
period easily topped Wall Street's expectations.
Cree Inc.'s (CREE) fiscal first-quarter profit grew 89% as the
maker of LED lighting products and semiconductor components posted
higher revenue and margins. But shares dropped 16% premarket to
$62.25 as the company predicted weaker-than-expected earnings for
its second quarter.
Unisys Corp. (UIS) narrowed its loss in the third quarter as a
decrease in costs partially offset a decline in revenue. Shares of
the company, which provides information-technology services and
software for commercial and government clients, fell 8.1% to $23.99
in premarket trading as its earnings and revenue came in below
analysts' expectations.
Altera Corp.'s (ALTR) third-quarter earnings dropped 24% as the
chip maker's sales sagged across most of its markets. Shares
dropped 7% to $34.72 in light premarket trading.
Amarin Corp. PLC (AMRN) said it plans to eliminate about half of
its staff positions world-wide as the biotechnology company looks
to reduce its operating expenses in the wake of a vote by the U.S.
Food and Drug Administration advisory committee against its
supplemental new drug application for its cholesterol drug Vascepa.
Shares slid 5.7% to $2.15 premarket.
RF Micro Devices Inc. (RFMD) swung to a fiscal second-quarter
profit as the wireless-chip maker recorded a surge in revenue.
Shares slid 7% to $5.73 premarket as the company's current quarter
revenue guidance was weaker than expected.
STMicroelectronics NV's (STM, STM.MI, STM.FR) third-quarter loss
narrowed as the company reported far fewer impairment and
restructuring charges than a year ago, though overall revenue fell
on weakness at the wireless business. Shares dropped 6.6% to $8.12
premarket.
Watch List:
ACE Ltd.'s (ACE) third-quarter profit grew 43% as the global
insurer benefited from a relatively benign quarter for
catastrophes, as well as better pricing in North America and
revenue growth for all the firm's insurance businesses.
Amgen Inc.'s (AMGN) third-quarter earnings rose 24% amid broad
revenue growth across the biopharmaceutical company's
portfolio.
Cubist Pharmaceuticals Inc. (CBST) swung to a third-quarter loss
as the biopharmaceutical company's results were stung by
acquisition costs and other expenses.
Datalink Corp.'s (DTLK) third-quarter profit dropped 57% as the
provider of data-center infrastructure and services reported weaker
gross margins and higher sales and marketing expenses.
FMC Technologies Inc.'s (FTI) third-quarter profit rose 17% as
the oil-equipment provider reported higher revenue, though shares
fell in after-hours trading Tuesday as results weren't as strong as
analysts had expected.
Juniper Networks Inc.'s (JNPR) third-quarter profit jumped
almost sixfold as the network-gear company recorded an uptick in
revenue and lower expenses.
Leap Wireless International Inc. (LEAP) on Wednesday said it
will postpone a special shareholder meeting to vote on its planned
acquisition by AT&T Inc. (T) to give the pay-as-you-go wireless
provider time to correct errors in prior financial statements.
Nabors Industries Ltd. (NBR) swung to a third-quarter loss as
the oil-field services company posted debt-redemption charges and
asset write-downs.
Billionaire investor Carl Icahn sold more than half his stake in
Netflix Inc. (NFLX) for nearly $1 billion in recent days, he
disclosed Tuesday, saying it was "time to take some chips off the
table."
Robert Half International Inc.'s (RHI) third-quarter profit rose
16% as the staffing-services firm posted revenue growth driven by
its technology and Protiviti segments.
Write to Lauren Pollock at lauren.pollock@wsj.com
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