Among the companies with shares expected to actively trade in
Wednesday's session are Alliance Fiber Optic Products Inc. (AFOP),
Adobe Systems Inc. (ADBE) and Dollar Tree Inc. (DLTR).
Alliance Fiber Optic expects third-quarter sales to exceed the
previous outlook thanks to stronger-than-expected customer orders.
Shares of the company, which makes high-performance fiber-optic
components and integrated modules used by communications-equipment
manufacturers, jumped 14% to $22.99 in after-hours trading
Tuesday.
Adobe Systems's fiscal third-quarter profit dropped 59% as the
software company reported falling product sales and a jump in
operating expenses. But Adobe added more "Creative Cloud"
subscribers than many Wall Street observers anticipated, news that
sent shares 5.2% higher, to $50.64, after hours Tuesday.
Dollar Tree said its board of directors has authorized the
repurchase of up to $2 billion in shares, including a $1 billion
variable maturity accelerated share repurchase. The discount
retailer's shares climbed 3.5% to $57.79 after hours Tuesday.
Watchlist:
Apache Corp. (APA) will sell some oil- and gas-producing
operations in Canada in two separate transactions valued at a
combined $112 million, a move that comes weeks after the firm
struck a deal to sell a stake in its Egypt business. Apache has
announced divestitures totaling nearly $7.2 billion in recent
months.
Two financial executives at Health Management Associates Inc.
(HMA) agreed to leave the hospital operator, departures that follow
the recent retirement of former President and Chief Executive Gary
D. Newsome. In a filing with the Securities and Exchange
Commission, Health Management said Chief Financial Officer Kelly
Curry and senior vice president of finance Kerrin Gillespie
separately agreed to leave the company, effective Sept. 13.
Steel Dynamics Inc. (STLD) provided a third-quarter earnings
outlook, with the top of the range in line with Wall Street
expectations, as the steelmaker said it expects profitability from
steel operations to increase from the second quarter.
Moody's Investors Service raised its outlook on TRW Automotive
Inc.'s (TRW) ratings, a rosier view attributed to the auto-parts
maker's balanced financial policy and restructuring actions in
Europe.
Write to John Kell at john.kell@wsj.com
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