U.S. Hot Stocks: Hot Stocks to Watch
August 25 2015 - 8:45AM
Dow Jones News
Among the companies with shares expected to trade actively in
Tuesday's session are Best Buy Co. (BBY), Accorda Therapeutics Inc.
(ACOR), and BHP Billiton Ltd. (BHP).
Best Buy on Tuesday reported a better-than-expected 12% profit
increase in its second quarter, as strong sales of large-screen
TVs, appliances and phones continued to offset weakness in tablets.
Shares of Best Buy rose 15% to $33.74 in premarket trading.
Acorda Therapeutics said a patent-review board has denied
challenges to two of the company's patents related to its Ampyra
multiple-sclerosis treatment. The challenges were brought by
hedge-fund manager Kyle Bass. Shares rose 22% to $35.25
premarket.
The world's biggest mining company, BHP Billiton, unveiled its
weakest annual earnings since 2003 on Tuesday and cut its long-term
forecast for Chinese steel demand. But its top executive expressed
confidence its most-important customer, China, is on track, despite
its current bout of market and economic turbulence. Shares rose 5%
to $33.74 premarket.
General Electric Co. (GE) plans to close a historic foundry and
eliminate more than 250 jobs at its unit in Lufkin, Texas, as the
company deals with a dropoff in demand for drilling equipment in
the wake of plunging oil prices. Shares rose 3.8% to $24.78
premarket.
Amgen Inc. (AMGN) said it submitted a new drug application to
the U.S. Food and Drug Administration for its intravenous treatment
for secondary hyperparathyroidism in patients with chronic kidney
disease. Shares rose 2.9% to $151.95 premarket.
DSW Inc. (DSW) on Tuesday reported a 6.8% increase in sales in
its August quarter, as the shoe retailer benefited from better
sales of its regular-priced merchandise. Still, analysts were
expecting a bigger increase in the top line, and shares fell 4.4%
to $29.50 premarket.
Children's Place Inc. (PLCE) posted worse-than-expected sales on
Tuesday for its second quarter amid currency headwinds but saw
profits in line with forecasts.
Sanderson Farms Inc. (SAFM) said profit tumbled in its latest
quarter, as the chicken company faced sharply lower market prices
for its products.
Coatings and paints company Valspar Corp. (VAL) raised the
bottom end of its full-year guidance as earnings rose more than
expected in the July quarter.
Navient (NAVI) disclosed in a regulatory filing Monday that it
received a letter from the Consumer Financial Protection Bureau on
Aug. 19 that indicates the regulator is considering taking legal
action against the largest U.S. student-loan servicer over its
servicing practices. Navient was spun off from SLM Corp. (SLM),
better known as Sallie Mae.
Data-analytics company Inovalon Holdings Inc. (INOV) agreed to
buy consulting firm Avalere Health Inc. for $140 million. The
health-care industry focused company expects the acquisition will
position it for growth in the pharmaceutical and life-sciences
sector.
Newell Rubbermaid Inc. (NWL) said it plans to offer 3,300 former
employees a lump-sum payment of their pension benefits by the end
of the year in a move that aims to reduce the company's U.S.
pension-related obligations and related expenses.
Career Education Corp. (CECO) said the U.S. Federal Trade
Commission has requested information from the company under a civil
investigative demand. The request stems from an FTC resolution in
2013 directing an investigation into possible "deceptive or unfair
acts or practices" in the advertising, marketing or sale of
educational products or services.
Write to Jenny Roth at jenny.roth@wsj.com and Tess Stynes at
tess.stynes@wsj.com
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(END) Dow Jones Newswires
August 25, 2015 09:30 ET (13:30 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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