Among the companies with shares expected to actively trade in
Thursday's session are 3M Co. (MMM). Akamai Technologies Inc.
(AKAM) and Zynga Inc. (ZNGA).
3M Co. (MMM) posted a notable miss in first-quarter profit and
revenue and cut its profit outlook for the year. Chief Executive
Inge Thulin cited the stronger U.S. dollar and "softer demand in
some end markets" for the outlook cut. Shares fell 3.6% to $104.40,
a decline that if persists would knick about 30 points of the Dow
Jones Industrial Average.
Akamai Technologies Inc.'s (AKAM) first-quarter earnings rose
65% as the company logged a strong performance in its media
delivery service business. The Internet technology company also
offered a bright outlook for the current quarter. Shares jumped 19%
to $42.81 premarket.
Zynga Inc. (ZNGA) posted a surprise first-quarter profit as the
embattled social-games maker trimmed costs significantly, though
bookings fell nearly as much. Shares sank 9.2 % premarket after the
company projected weak second-quarter results.
Intuit Inc. (INTU) cut its fiscal third-quarter and full-year
outlook after a lackluster tax season pressured the company's core
tax-preparation business. Shares dropped 12% to $56.65
premarket.
Anadarko Petroleum Corp. (APC) said it discovered a new deep
water Gulf of Mexico oil play, its third deep water success this
year, according to a company executive. Co-owners include Plains
Exploration & Production Co. (PXP) with a 50% working interest
and Exxon Mobil Corp. (XOM) with a 20% working interest. Shares of
Plains leapt in early Thursday trade, adding 3.8% to $47.75.
Cheesecake Factory Inc.'s (CAKE) first-quarter profit rose about
22% as sales at its namesake chain rose, despite winter storms in
the Northeast. Cheesecake Factory's shares rose 4.1% premarket to
$39.30 after results beat expectations.
Citrix Systems Inc.'s (CTXS) first-quarter earnings fell 13% as
the software maker suffered weaker margins and a heavy impact from
one-time items. Shares slumped 8.2% to $62.10 after the company
also lowered its full-year earnings targets.
Cliffs Natural Resources Inc.'s (CLF) first-quarter profit fell
74% as the mining company reported weaker global iron-ore sales
that weighed on revenue, along with significantly lower income-tax
benefits. However, shares rose 8.2% to $19.72 premarket as earnings
still topped the expectations of Wall Street analysts.
Watchlist:
Aflac Inc.'s (AFL) first-quarter earnings rose 14% as the
insurer benefited from investment gains, though core earnings and
revenue declined, hurt by currency impacts.
Assurant Inc.'s (AIZ) first-quarter profit fell 28% as the
insurer was hurt by a settlement related to accusations of
overpriced insurance, and other costs.
Cabot Oil & Gas Corp.'s (COG) first-quarter earnings more
than doubled as the energy company benefited from continued strong
growth in natural-gas production, despite weak prices.
Oil company Chevron Corp. (CVX) raised its quarterly dividend by
11%, with the size of the percentage increase matching what larger
peer Exxon Mobil Corp. (XOM) announced earlier Wednesday.
Crown Castle International Corp.'s (CCI) first-quarter profit
fell 67% as the cell-tower company recorded higher debt-retirement
losses and income-tax provisions, masking stronger revenue. The
company lifted its 2013 per-share earnings projections.
Equifax Inc.'s (EFX) first-quarter earnings rose 41% as the
credit-reporting company posted broad sales growth and stronger
operating margins.
Specialty chemical company Ferro Corp. (FOE) named Peter T.
Thomas as president and chief executive, making permanent the
leadership roles he has held on an interim basis since
November.
F5 Networks Inc.'s (FFIV) fiscal second-quarter earnings slipped
7.6% as the network-equipment company recorded weaker product sales
and higher operating expenses. The company offered guidance for the
current quarter below analyst estimates.
Flowserve Corp.'s (FLS) first-quarter earnings rose 5% as sales
strengthened at the diversified manufacturer, helping per-share
earnings top analysts' estimates.
Herman Miller Inc. (MLHR) agreed to acquire Maharam Fabric Corp.
for about $156 million in cash, as the office-furniture maker looks
to expand its specialty and consumer segment.
Hershey Co. (HSY) promoted a slew of executives ahead of
Thursday's first-quarter report, including the naming of a new
chief financial officer.
Lam Research Corp.'s (LRCX) fiscal third-quarter earnings
slipped 58% as the semiconductor-equipment company's increase in
operating expenses outpaced revenue growth. The company also
unveiled a $250 million share-repurchase program.
LSI Corp.'s (LSI) first-quarter earnings declined 75% as the
storage-chip manufacturer's revenue weakened and as the
year-earlier period benefited from a larger tax benefit.
Montpelier Re Holdings Ltd.'s (MRH) first-quarter profit fell
14% as the reinsurer's investment income and premiums earned edged
lower.
Chip maker Qualcomm Inc. (QCOM) continued to benefit from strong
demand for mobile devices in its fiscal second quarter, though net
profits fell 16% due to a large one-time gain in the year-earlier
period.
Raymond James Financial Inc.'s (RJF) fiscal second-quarter
earnings rose 16% as the regional broker recorded stronger results
in its private client, asset management and proprietary capital
units, though its capital markets business saw weaker profits.
Standard & Poor's said it will add biopharmaceutical company
Regeneron Pharmaceuticals Inc. (REGN) to the S&P 500 index,
replacing MetroPCs Communications Inc. (PCS) after its merger with
Deutsche Telekom AG's (DTE.XE, DTEGY) T-Mobile USA unit.
Stryker Corp.'s (SYK) first-quarter earnings fell 13% as the
medical-device maker was hurt by product-recall-related charges and
other items that offset sales growth.
Teradyne Inc.'s (TER) first-quarter profit fell 80% as revenue
at the manufacturer of chip-testing equipment dropped sharply and
operating expenses increased, although the impact was cushioned by
an income-tax benefit. Still, shares rose 3.3% to $15.33 after
hours as per-share earnings beat the company's own
expectations.
Terex Corp.'s (TEX) first-quarter earnings increased 3.9% as the
construction-machinery maker's margins improved slightly and
overhead expenses slipped, though it recorded double-digit revenue
declines in its construction and materials-handling segments.
Tractor Supply Co.'s (TSCO) first-quarter earnings rose 9.1% as
the retailer's same-store sales edged higher, though margins
dropped slightly.
Whiting Petroleum Corp.'s (WLL) first-quarter earnings fell 12%
as the oil and gas company was hurt by hedging impacts and other
items that masked growth in revenue and production.
Xilinx Inc.'s (XLNX) fiscal fourth-quarter earnings rose 6.7% as
the manufacturer's operating expenses and tax provision fell from a
year earlier, though revenue continued to weaken.
Write to Mia Lamar at mia.lamar@dowjones.com
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