Among the companies whose shares are expected to actively trade
in Wednesday's session are Urban Outfitters Inc. (URBN), Marathon
Petroleum Corp. (MPC) and Commercial Metals Co. (CMC).
Urban Outfitters disclosed its chief executive, Glen T. Senk,
had resigned on Monday to pursue another opportunity and said
co-founder and Chairman Richard A. Hayne would take on the CEO
post, effective immediately. Shares plunged 14% to $25.15 in recent
premarket trading. The apparel retailer said Senk will remain with
the company for a period of time to assist with the transition.
Marathon said it expects to swing to a small fourth-quarter loss
as higher crude oil prices weighed on bottom-line results. Shares
fell 4.2% to $30.50 premarket.
Carl Icahn dropped his attempted hostile takeover of Commercial
Metals as the billionaire activist investor didn't receive tenders
for his self-imposed threshold of 40.1% of the scrap-metal
processor's stock. Shares were down 6.8% to $13.75 premarket.
Lennar Corp.'s (LEN) fiscal fourth-quarter earnings fell 5.5%,
reflecting a weak real-estate market, though the homebuilder's
revenue grew and its margins improved. Shares were down 0.5% to
$20.66 premarket.
Crocs Inc. (CROX) said its fourth-quarter revenue will be at the
high end of its expectations and said it expects its full-year
revenue to exceed $1 billion for the first time in the footwear
company's history. Shares jumped 5.4% to $16.81 in premarket
trading.
Synnex Corp. (SNX) fiscal fourth-quarter earnings rose a
better-than-expected 34% as the information-technology distributor
continued to post sales growth and margins strengthened. Shares
were up 4.4% at $33.50 in recent premarket trading as the company
also gave a mostly upbeat view for the current quarter.
Bank of America Merrill Lynch downgrades Unilever (UL, ULVR.LN)
to underperform from neutral and cuts its price target, saying the
company is one of the most expensive stocks in its consumer-staples
universe, trading at a 10% premium versus a historical 10% discount
to parity. It expects the management to issue a cautious 2012
outlook at its full year results in early February. Shares were
down 3.6% to $32.12 in premarket trading.
Hewlett-Packard Co. (HPQ) named EBay Inc. (EBAY) veteran Henry
Gomex as its new chief communications officer, a newly expanded
role at the technology giant. Gomez, 48, will report to
Hewlett-Packard President and Chief Executive Meg Whitman, who took
charge of the company in September after leading eBay as its CEO
for a decade through 2008. Shares edged down 0.2% to $26.65 in
premarket trading.
Arena Pharmaceuticals Inc. (ARNA) is selling $16.5 million in
stock at a 5.1% discount to its Tuesday close. It will also sell
some preferred convertible shares. The biotechnology company's
shares fell 5.1% to $1.66 in premarket trading.
Alcohol producer China New Borun Corp. (BORN) said Tuesday it
has signed presales contracts worth about 90% of its total output
capacity this year. Shares jumped 19% to $3.97 in premarket
trading.
Watch List:
Cable-television and broadband-services provider Charter
Communications Inc. (CHTR) plans to offer $750 million of 10-year,
senior unsecured notes to finance tender offers to reduce debt held
by its CCO Holdings LLC and CCO Holdings Capital Corp. units.
Coldwater Creek Inc. (CWTR) projected a wider fourth-quarter
loss Tuesday after the retailer's same-store sales continued to
slide.
Community Health Systems Inc. (CYH) said it terminated its
agreement to buy the assets of the 26-bed Roswell Regional Hospital
in Roswell, N.M., amid a Federal Trade Commission review of the
deal.
Gentiva Health Services Inc. (GTIV) issued a cautious revenue
view for 2012 and said it would provide more guidance once it
amends its credit agreement.
Mattress Firm Holding Corp. (MFRM) raised its guidance for the
2011 fiscal year after better-than-expected fourth-quarter
sales.
MetLife Inc. (MET) said Tuesday it would stop originating
forward residential mortgages, the latest move to avoid increased
regulatory scrutiny and stay focused on its core operations.
SemiLEDS Corp. (LEDS) swung to a first-quarter loss as the maker
of light-emitting-diode products said it continued to face a
challenging economy, higher expenses and weaker margins.
Stryker Corp. (SYK) expects its 2012 adjusted earnings to grow
at double-digit levels from the prior year's expected profit, but
issued sales guidance for the new year that was mostly below
analyst expectations.
Summer Infant Inc. (SUMR) said its fourth-quarter results were
disappointing because of weak consumer interest, reduced retailer
inventory and delays in shipping new products, forcing the maker of
infant care and safety products to lower its targets for 2011.
Tesoro Corp. (TSO) said it will try to sell its Hawaiian assets
late this year so it can focus more on its refining operations in
the continental U.S.
Ultra Clean Holdings Inc. (UCTT) raised its guidance for the
fourth quarter on expectations that revenue will exceed its
downbeat forecast given in October.
-Edited by Maya Pope-Chappell and Ian Thomson; write to
maya.pope-chappell@dowjones.com and ian.thomson@dowjones.com