U.S. Hot Stocks: Hot Stocks to Watch
September 02 2016 - 8:42AM
Dow Jones News
Among the companies with shares expected to trade actively in
Friday's session are Merck & Co. (MRK), Ambarella Inc.(AMBA)
and Broadcom Ltd. (AVGO).
Merck & Co. said it would discontinue developing the
osteoporosis drug odanacatib and not seek regulatory approval for
the treatment because of the higher risk of stroke. Shares fell
0.6% to $62.52 in premarket trading.
Alcoa Inc. (AA) and joint-venture partner Alumina Ltd. (AWCMY)
have settled their dispute, ending competing litigation and
removing a potential hurdle to Alcoa's plans to split into two new
companies later this year.
Ambarella Inc., a key chip supplier to struggling GoPro Inc.,
saw shares slip after hours on Thursday with sales and profit
posting a quarterly fall though results were better than expected.
Shares fell 1.48% to $70.72 premarket.
Broadcom Ltd. swung to a loss in the latest quarter, but its
adjusted earnings -- which excludes acquisition and
restructuring-related expenses, among other items -- beat
expectations. Shares fell 0.33% to $176.50 premarket.
Contact-lens company Cooper Cos. (COO) on Thursday raised its
financial projections following better-than-projected third-quarter
results. Separately, the company said Chief Financial Officer
Gregory W. Matz, who also serves as the company's chief risk
officer, plans to retire on Oct. 31, the end of Cooper's business
year. He will stay on in an advisory role through March.
Dean Foods Co. (DF) on Thursday named Ralph Scozzafava as the
company's new chief executive, taking over for Gregg Tanner on Jan.
1.
Gap Inc. (GPS) said same-store sales, a key industry metric,
fell 3% in August, evidence that the struggling retailer still has
work to do.
Lululemon Athletica Inc. (LULU) on Thursday raised its financial
projections for the year, but sales in the most recent quarter were
slightly weaker-than-expected.
Smith & Wesson Holding Corp.'s (SWHC) sales jumped 40% and
profit more than doubled in its first quarter, leading the firearms
maker to sharply raise financial projections for the year.
VeriFone Systems Inc. (PAY) issued a disappointing outlook for
the current quarter Thursday as the payments-technology company's
revenue missed expectations for the three months ended July,
sending shares lower.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
September 02, 2016 09:27 ET (13:27 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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