Among the companies with shares expected to actively trade in
Wednesday's session are Tiffany & Co. (TIF), PetSmart Inc.
(PETM) and American Eagle Outfitters Inc. (AEO).
Tiffany & Co. (TIF) said its fiscal first-quarter profit
surged 50% on broad sales growth, particularly in the Asia-Pacific
region. The high-end jewelry retailer's results easily topped
expectations and the company raised its full-year earnings
guidance. Shares rose 7.1% to $94.50 premarket.
PetSmart Inc. (PETM) cut its full-year outlook and said its
fiscal first-quarter sales missed expectations, though the
company's earnings for the quarter edged up 1.3%. Shares fell 7.9%
to $57.30 premarket.
American Eagle Outfitters Inc. (AEO) said its fiscal
first-quarter earnings fell 86% as the teen apparel retailer was
hit by weaker sales and margins. The company also announced plans
to close more stores and provided fiscal second-quarter guidance
below expectations. Shares fell 5.6% to $10.70 premarket.
American Realty Capital Properties Inc. (ARCP) said Wednesday it
will sell its multi-tenant shopping center portfolio for $1.975
billion in cash to a Blackstone affiliate, instead of spinning off
the division as it had previously announced. American Realty plans
to use the proceeds to fund its Red Lobster sale-leaseback
transaction. American Realty shares fell 2.3% to $12.60
premarket.
Analog Devices Inc.'s (ADI) fiscal second-quarter profit rose
14% as the chip maker reported higher revenue and stronger margins
bolstered by secular and seasonal strength in the industrial,
communications infrastructure, and automotive markets. Shares rose
1.3% to $52.65 premarket.
Clinical-stage biotechnology company GlycoMimetics Inc. (GLYC)
and drug giant Pfizer Inc. (PFE) are moving on to a late-stage
clinical trial for a sickle cell disease drug. Under terms of a
2011 agreement, development and commercialization responsibilities
for GlycoMimetics' rivipansel--a drug targeting complications of
vaso-occlusive crisis of sickle cell disease--now shift to Pfizer.
GlycoMimetics shares rose 11% to $7 premarket.
Hercules Offshore Inc. (HERO) said it signed a five-year
drilling contract with Maersk Oil North Sea U.K. Ltd. valued at
roughly $420 million, which is expected to commence in mid-2016.
Shares rose 6.7% to $4.65 premarket.
Hormel Foods Corp. (HRL) said its fiscal second-quarter earnings
rose 12%, as the packaged-foods maker posted stronger sales in its
main refrigerated-foods business. However, the company said it
expects earnings for the year to hit the low-end of its guidance,
as higher pork, beef, turkey and avocado costs--driven by tight raw
material supplies--weigh on margins. Shares fell 2.6% to
$47.26.
Intuit Inc.'s (INTU) fiscal third-quarter profit rose 20% as the
tax software company recorded higher revenues, bolstered by a late
start to tax season. However its fiscal year outlook was slightly
below expectations. Shares fell 4.7% to $73.20 premarket.
Lowe's Cos. (LOW) said an extended period of wintry weather
weighed on sales in the fiscal first quarter, although its profit
still rose. The home-improvement chain's earnings topped analysts'
expectations and the retailer pointed to improved sales in May. The
retailer, citing a lower tax rate, also boosted its full-year
earnings outlook. Shares fell 27 cents to $45.25 premarket.
Salesforce.com Inc.'s (CRM) fiscal first-quarter loss widened as
the cloud-based software vendor's expenses offset revenue growth.
The San Francisco software company, however, issued a bright
outlook for the current quarter and raised its guidance for the
year. Shares fell 1.9% to $51.90 premarket.
Target Corp. (TGT) said its earnings fell 16% as fewer shoppers
visited stores and losses from its Canada expansion mounted,
highlighting the depths of the problems faced by the retailer that
ousted Chief Executive Gregg Steinhafel earlier this month. The
results come against the backdrop of continued weak U.S. retail
sales, which rose just 0.1% in April, according to the Commerce
Department. Shares edged up nine cents to $56.70 premarket.
Trina Solar Ltd. (TSL) swung to a first-quarter profit, as the
China-based solar-panel maker reported stronger shipments and
sales. Earnings easily surpassed expectations for the quarter.
Shares rose 10% to $11.42 premarket.
Watchlist:
Booz Allen Hamilton Holding Corp. (BAH) said its fiscal
fourth-quarter earnings declined 14% as the consulting company
reported weaker revenue amid uncertainties about government
spending. Still, adjusted earnings beat expectations.
La Quinta Holdings Inc.'s (LQ) first-quarter revenue rose as the
hotel operator gave a view of its quarterly performance before its
initial public offering in April.
Write to Maria Armental at maria.armental@wsj.com and Tess
Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires