Among the companies with shares expected to actively trade in
Friday's session are Ulta Salon Cosmetics & Fragrance Inc.
(ULTA), Bank of America Corp. (BAC) and Great Lakes Dredge &
Dock Corp. (GLDD).
Ulta Salon's fiscal fourth-quarter net rose 39% as the
beauty-products retailer continued to record strong sales gains
from its new and existing stores. But shares fell 12% premarket to
$77.63 as the company's first-quarter forecast fell short of Wall
Street expectations.
A number of big U.S. banks Thursday unveiled plans for dividends
and stock buybacks following the latest round of the Federal
Reserve's stress tests. In all, 14 of the 18 largest U.S. banks
received unconditional approval from the Fed for their plans to
distribute capital to shareholders as part of the second step in
the central bank's annual stress test of the biggest banks. Among
the largest U.S. banks, Bank of America said its board approved the
repurchase of $5 billion of its shares and the redemption of about
$5.5 billion in preferred stock. Bank of America's shares were up
3.8% to $12.57 premarket. Two companies, Ally Financial Inc. and
BB&T Corp. (BBT) had their plans rejected. BB&T's shares
slid 3.3% to $30.70.
Great Lakes has restated its second-quarter and third-quarter
results after the company found instances in its demolition segment
where revenue was incorrectly recognized for those periods. Shares
tumbled 32% to $6.10 premarket as Great Lakes also reported
fourth-quarter earnings that sharply missed analyst
expectations.
Aeropostale Inc. (ARO) forecast a surprise loss for the current
quarter as it reported a fiscal fourth-quarter loss amid higher
impairment charges and weaker sales during its critical holiday
selling season. The youth-focused apparel retailer's shares slid
5.6% to $13.70 premarket.
A federal jury in Texas sided Thursday with Cisco Systems Inc.
(CSCO) in a patent-infringement case brought by VirnetX Holding
Corp. (VHC). The verdict dealt a serious blow to VirnetX, a company
that uses its patent portfolio to seek revenue from licensing fees
or court judgements. VirnetX shares closed down 28% to $25.75
Thursday, erasing more than $500 million of market value. Shares
recently fell an additional 5.4% to $24.35 in premarket
trading.
Jefferies upgraded ARM Holdings PLC (ARMH, ARM.LN) to buy from
hold, saying the U.K.-based microchip designer remains
well-positioned for the mid to long term, given rising royalty
rates and record licensing, among other things. Overall, Jefferies
said it expects earnings growth to continue largely unperturbed
through 2013-2016. American depositary shares rose 4.2% to $43.53
premarket.
Zogenix Inc. (ZGNX) reported a narrower-than-expected
fourth-quarter loss sending shares of the drug developer up 12% to
$2.10 premarket.
CenterPoint Energy Inc. (CNP), OGE Energy Corp. (OGE) and
ArcLight Capital Partners LLC are combining their pipeline and
related assets into a partnership, a move that would give them a
fresh source of capital as they seek to take advantage of booming
demand for shipping oil and natural gas. CenterPoint shares jumped
6.7% to $23.30 in light premarket trading.
Krispy Kreme Doughnuts Inc.'s (KKD) fiscal fourth-quarter profit
fell 97% from a year ago, when the doughnut chain posted a
substantial gain related to income taxes. Revenue and same-store
sales showed continued improvement in the results released
Thursday. However, shares fell 5.4% premarket to $14.14, after the
company missed adjusted earnings expectations.
TherapeuticsMD Inc. (TXMD) said its previously announced $50
million stock offering priced at $1.70 a share for roughly 29.4
million shares. The company recently had about 99.8 million shares
outstanding, according to FactSet. Shares fell 22% to $1.80
premarket.
Watchlist:
Angie's List Inc. (ANGI) said Robert R. Millard will step down
as finance chief at the end of the quarter.
Callon Petroleum Co. (CPE) swung to a fourth-quarter loss as the
energy company was hurt in part by lower selling prices of crude
oil and natural gas.
Fannie Mae (FNMA) said it will miss a deadline to file its
financial results for the past year, citing an accounting delay
related to its deferred tax assets.
Kennedy-Wilson Holdings Inc. (KW) said its offering of 9 million
shares priced at a 0.6% discount to its Thursday closing price,
while Delek US Holdings Inc. (DK) said a stockholder's increased
offering of 9 million shares priced at a 1.5% discount.
Live Nation Entertainment Inc. (LYV) has named Liberty Media
Corp. (LMCA, LMCB) Chief Executive Greg Maffei its new
non-executive chairman, a move that comes after Irving Azoff
resigned as chairman of the concert promotion giant in
December.
Moody's Investors Service downgraded its investment-grade rating
on Medtronic Inc. (MDT) by one notch, saying it is likely the
medical-device company's credit metrics will weaken further as it
adds debt to help fund shareholder initiatives and U.S.
acquisitions.
Molycorp Inc. (MCP) swung to a steep fourth-quarter loss as the
mining company recorded $264.3 million in total impairment charges
tied to wild swings in rare earths prices and a recent acquisition.
Results for Molycorp, which manufactures and sells rare-earth
products used in high-tech gadgets, missed Wall Street
expectations.
STEC Inc.'s (STEC) fourth-quarter loss widened as the
data-storage maker continued to post sinking revenue during a
transition in its business focus. STEC also issued pessimistic
guidance for the current quarter, and its largest shareholder
renewed criticism of the company.
Team Inc. (TISI) cut its full-year earnings outlook, as the
industrial-services company cited lower-than-expected revenue from
its Canadian and European units and expectations for a weak third
and fourth quarter.
Generic-drug maker Teva Pharmaceutical Industries Ltd. (TEVA,
TEVA.TV) will pay $2.25 million to settle allegations its plant in
Missouri broke environmental laws over a period of years, including
by releasing pollutants that discolored part of a nearby river, the
U.S. Justice Department said.
Zumiez Inc.'s (ZUMZ) fiscal fourth-quarter earnings rose 22% as
the teen apparel retailer's continued sales growth overall
overshadowed weakness in same-store sales and margins.
Write to Anna Prior at anna.prior@dowjones.com
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