Among the companies expected to actively trade in Tuesday's
session are G-III Apparel Group Ltd. (GIII), Sonic Corp. (SONC) and
Walgreen Co. (WAG).
G-III Apparel said its fiscal fourth-quarter earnings grew 62%
thanks to sales strength across the business and improved margins.
Sales fell below views, and the company offered disappointing
bottom-line forecasts for the current quarter and year, partly tied
to its acquisition of the G.H. Bass & Co. shoe brand. Shares
dropped 7% to $69.25 premarket.
Sonic said its fiscal second-quarter earnings jumped 15% as the
drive-in restaurant chain reported a decrease in costs and
expenses, which offset a decline in overall revenue. Adjusted
profit for the latest period topped market expectations, pushing
shares up 7.1% to $22.40.
Walgreen said its fiscal second-quarter earnings eased as the
drugstore operator was hit by weaker margins tied to a slowdown in
generic drug introductions and a milder flu season. The company
also unveiled plans to close 76 drugstores in the second half of
the year, reversing some of its rapid expansion in recent years.
Shares edged up 2.6% to $66.01 premarket.
Watch List:
Carlyle Group L.P. (CG) hired a senior executive away from J.P.
Morgan Chase & Co. (JPM), naming him as the private-equity
firm's second chief operating officer. Michael Cavanagh, currently
co-chief executive of J.P. Morgan's corporate and investment bank,
will become the firm's co-chief operating officer along with
current operations chief Glenn A. Youngkin.
Kohl's Corp. (KSS) said Chief Merchandising Officer Donald A.
Brennan resigned Monday. Under a separation agreement with the
department-store operator, Mr. Brennan will receive a one-time
severance payment equal to 2.9 times his annual salary plus the
average of the three most-recent annual incentive compensation plan
payments paid to him, among other payments.
McCormick & Co. Inc. (MKC) said its fiscal first-quarter
earnings rose 8.6% as the spice maker's results were boosted by the
recent acquisition of Wuhan Asia-Pacific Condiments Co. Results
topped estimates.
Omnicare Inc. (OCR) named Chief Operating Officer Nitin Sahney
as its next chief executive, with CEO John Workman announcing his
plans to retire by the end of the year. Mr. Sahney, 51 years old,
has worked as the pharmacy-services provider's president and chief
operating officer since 2012, with oversight of the strategic and
operational plans for all of Omnicare's business operations.
Pfizer Inc. (PFE) said its Xalkori cancer drug was superior to
chemotherapy as a first-line treatment for a certain type of
advanced non-squamous non-small cell lung cancer in a recent Phase
III study.
Standard & Poor's Ratings Service lessened the likelihood of
a near-term downgrade on its junk rating on Sears Holdings Corp.
(SHLD), touting the expected completion of asset sales and access
to a revolving credit facility.
Smith & Wesson Holding Corp. (SWHC) agreed to acquire Tri
Town Precision Plastics Inc. for $23 million in cash as the gun
maker focuses on its M&P firearm business by snapping up a
major component-supplier.
Write to John Kell at john.kell@wsj.com and Lauren Pollock at
lauren.pollock@wsj.com
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