Among the companies with shares expected to actively trade
premarket are Hewlett-Packard Co. (HPQ), Microsoft Corp. (MSFT),
and Zumiez Inc. (ZUMZ).
Research firm IDC issued an alarming report Wednesday for PC
makers, saying world-wide shipments of laptops and desktops fell
14% in the first quarter from a year earlier, the sharpest drop
since IDC began tracking the data in 1994. Rival research firm
Gartner Inc. (IT), meanwhile, estimated global shipments sank
11.2%, which is called the worst drop since the first quarter of
2001. PC-maker Hewlett-Packard dropped 5.5% to $21.10 premarket.
Meanwhile, Microsoft earned a downgrade from Goldman Sachs to sell
as consumers gravitate to tablets, which unlike PCs, aren't
dominated by Microsoft's operating system. Shares fell 3.6% to
$29.18 premarket.
Teen retailer Zumiez's same-store sales for March rose 2.1%,
topping expectations of Wall Street analysts. Analysts surveyed by
Thomson Reuters had forecast a same-store sales decrease of 7.5%.
Shares climbed 9.4% to $27.25 premarket.
Fortinet Inc. (FTNT) cut its first-quarter earnings and revenue
guidance, as the network-security company said billings are lower
than expected. Shares dropped 18% to $18.03 in premarket
trading.
Acadia Pharmaceuticals Inc. (ACAD) said the U.S. Food and Drug
Administration has decided that data from a late-stage study,
together with supportive data from other studies, are sufficient to
support the filing of a New Drug Application for its pimavanserin
drug for the treatment of Parkinson's disease psychosis. Shares
jumped 46% to $11.65 premarket.
Pier 1 Imports Inc. (PIR) predicted restrained earnings growth
this fiscal year as it continues to invest. The home-furnishings
retailer is in the midst of an extensive investment period,
including the rollout of a new point-of-sale system, increased
hiring and training, and a ramped-up online store. Shares fell 3.4%
to $22.55 premarket.
Medical-device maker Sunshine Heart Inc. (SSH, SHC.AU) plans to
offer an undisclosed number of shares, intending to use the
proceeds for clinical trials and product development, and other
general purposes. Shares fell 6% to $5.65 in premarket trading.
Fifth Street Finance Corp. (FSC) has launched an offering of
13.5 million shares, planning to use the proceeds to pay down debt
and to re-borrow money to invest in small and mid-sized companies.
The specialty finance firm recently had around 106.2 million shares
outstanding. Shares fell 2.6% premarket to $10.69.
Yum Brands Inc. (YUM) said same-store sales in its China
division fell 13% in March, a larger decline than analysts had
expected, and also said publicity associated with the Avian flu in
China in the past week has significantly hurt KFC results. Shares
slipped 2.2% to $65.29 premarket.
Watchlist:
Apogee Enterprises Inc.'s (APOG) fiscal fourth-quarter profit
rose 48% as the industrial-glass manufacturer reported improved
results at its architectural segment and stronger margins. However,
earnings and revenue were below expectations.
Bed Bath & Beyond Inc.'s (BBBY) fiscal fourth-quarter
earnings rose 6.5% as the retailer posted double-digit sales
growth, with a boost from an extra week of sales. Earnings were
ahead of expectations.
Burger King Worldwide Inc. (BKW) Chief Executive Bernardo Hees
will leave to take the helm of H.J. Heinz Co. (HNZ) once the
acquisition of the ketchup maker by Berkshire Hathaway Inc. (BRKA,
BRKB) and private-equity firm 3G Capital is complete.
Integra LifeSciences Holdings Corp. (IART) said it is
voluntarily recalling certain products due to production concerns,
and offered guidance below analyst estimates for the first and
second quarters.
Investment firm Crest Financial Ltd. has filed a preliminary
proxy statement urging Clearwire Corp. (CLWR) shareholders to vote
against the company's planned acquisition by Sprint Nextel Corp.
(S), the latest step in its ongoing effort to block the $2.2
billion deal.
Chevron Corp. (CVX) said Wednesday its oil production and
refining-business activity was lower in the first two months of
2013 than the full first quarter of 2012 because of widespread
maintenance issues.
Deutsche Telekom AG (DTEGY, DTE.XE) sweetened its offer for U.S.
wireless carrier MetroPCS Communications Inc. (PCS), hoping to save
a merger deal that shareholders had threatened to reject. Late
Wednesday, Deutsche Telekom submitted what it called its "best and
final offer" to MetroPCS. The revised terms lower the amount of
debt that will be transferred to the new company by $3.8 billion
and cut the interest rate on that debt by half a percentage
point.
Protective Life Corp. (PL) has agreed to acquire MONY Life
Insurance Co. from AXA SA (CS.FR, AXAHY) and reinsure certain life
insurance policies written by a MONY subsidiary for about $1.06
billion, a deal the company said will produce a steady stream of
earnings for many years to come.
Ruby Tuesday Inc.'s (RT) fiscal third-quarter earnings fell 52%
as the casual-dining chain was hampered by restaurant closure costs
and weaker same-store sales.
Write to Anna Prior at anna.prior@dowjones.com
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