Among the companies with shares expected to actively trade in
Friday's session are CarMax Inc. (KMX), Darden Restaurants Inc.
(DRI) and Oracle Corp. (ORCL).
AK Steel Holding Corp. (AKS) said second-quarter results will be
hurt by lower production at blast furnaces, a move the company said
was necessary because ice coverage on the Great Lakes delayed the
shipping season and reduced the iron-ore supply. Shares dropped
5.2% to $7.05 premarket.
CarMax said its fiscal first-quarter profit jumped 16% on an
uptick in consumer traffic. Results beat expectations, pushing
shares up 14% to $51.71 premarket.
Cubist Pharmaceuticals Inc. (CBST) said the Food and Drug
Administration accepted for priority review the company's new drug
application for its investigational antibiotic for complicated
urinary tract and complicated intra-abdominal infections. Shares
rose 3.6% to $71 premarket.
Darden posted another period of declining sales at its Olive
Garden and Red Lobster chains, while its quarterly earnings slid
35% thanks to higher costs and expenses. The casual-dining
restaurant operator's profit fell far short of market expectations,
pushing shares down 4.1% to $47.47 in premarket trading.
Activist investor Carl Icahn said Thursday that it is imperative
Family Dollar Stores Inc. (FDO) be put up for sale immediately, and
he again threatened to replace the discount retailer's board.
Shares edged up 2.1% to $69.60 premarket.
Merrimack Pharmaceuticals Inc. (MACK) and Sanofi (SNY) have
ended their license and collaboration agreement for the development
and commercialization of Merrimack's antibody MM-121 to treat
several forms of cancer. Merrimack dropped 10% to $7.07
premarket.
Oracle said sales of new software licenses, a closely watched
metric, were flat in its latest quarter, while its profit for the
period fell 4.2% on higher expenses. Shares declined 6.4% to $39.78
premarket.
Owens Corning (OC) lowered its earnings outlook for the year
Friday as its roofing business continues to see weaker volumes.
Shares slid 7% to $38.40 in premarket trading as the company said
weakness in roofing volumes seen in the first quarter continued in
April and May, dragging down its full-year expectations.
Midstream energy company Targa Resources Corp. (TRGP) said it
had terminated "high-level preliminary discussions" on a potential
merger with Energy Transfer Equity LP (ETE). Targa shares dropped
9.7% to $136 premarket.
Write to Maria Armental at maria.armental@wsj.com
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