Among the companies with shares expected to actively trade in
Friday's session are Molina Healthcare Inc. (MOH), McDonald's Corp.
(MCD) and Chesapeake Energy Corp. (CHK).
Medicaid health insurers Molina and Centene Corp. (CNC) said
late Thursday they have won back business in Ohio after protesting
their prior rejection for new contracts starting next year. The
news came the same day Molina shares dropped 31% on its disclosure
of problems with high medical costs in Texas, where both companies
have a presence. Shares of Molina were up 19% to $21.20 premarket,
while shares of Centene rose 11% to $36.48.
McDonald's global same-store sales rose a slower-than-expected
3.3% in May as austerity measures in Europe pressured the world's
largest fast-food chain's results. Shares were recently trading
2.8% lower at $85.95 premarket as Baird Equity Research was
expecting a 4.5% increase in global sales from restaurants open at
least 13 months.
Chesapeake Energy plans to sell midstream assets in three
separate transactions totaling more than $4 billion in cash, as the
embattled natural-gas company struggles against mounting debt. The
natural-gas company said it expects the divestitures to reduce
previously budgeted capital expenses by around $3 billion over the
next three years. Chesapeake's shares edged up 1.1% to $18.04 in
recent premarket trading.
Progress Software Corp. (PRGS) reported preliminary results for
its fiscal second quarter that missed analyst expectations, noting
uncertainty from customers, partners and employees about the
company's restructuring efforts and weakness in the global economy
hurt results. Shares were off 8.8% to $18.50 premarket.
Francesca Holding Corp.'s (FRAN) fiscal first-quarter earnings
more than doubled as the retailer's sales continued to strengthen
and margins improved. Shares jumped 15% to $25.60 premarket as
results topped the company's expectations and it raised its
full-year outlook.
ATP Oil & Gas Corp. (ATPG) said its recently appointed chief
executive, Matt McCarroll, has resigned, effective Thursday, after
the offshore explorer failed to reach a mutually agreeable
employment agreement with Mr. McCarroll. Shares fell 17% to $4.86
premarket.
Comtech Telecommunications Corp.'s (CMTL) fiscal third-quarter
income dropped 57% as the maker of advanced communications systems
saw a continued slide in revenue. Still, the results beat market
expectations. Shares traded up 2% to $29.70 premarket.
Cooper Cos.'s (COO) fiscal second-quarter earnings rose 55% amid
broad sales growth in both its main businesses, though the results
missed analysts' expectations. Shares dropped 6.3% to $75
premarket.
CPI Aerostructures Inc. (CVU) said the company and some
stockholders plan to offer an undisclosed number of common stock.
Shares slipped 0.8% to $12.55 premarket.
FleetCor Technologies Inc. (FLT) said stockholders plan to sell
about 6.8 million shares. Shares fell 5.1% to $36.64 premarket.
Watchlist:
Cascade Corp.'s (CASC) fiscal first-quarter earnings fell 7.4%
as the forklift-parts company posted higher expenses that
overshadowed improved revenue and increased shipments.
Chelsea Therapeutics International Ltd. (CHTP) said its
corporate officers and directors have agreed to a 25% pay cut until
data from the company's ongoing Phase III study of its Northera
low-blood-pressure medication is available, part of a slew of
cost-saving initiatives to help support the development of the
company's lead drug candidate.
Dunkin' Brands Group Inc. (DNKN) said it has named Chief
Financial Officer Neil Moses as the coffee-and-doughnut chain's
chief global-strategy officer.
Exide Technologies' (XIDE) fiscal fourth-quarter loss narrowed
as the company recorded lower restructuring and impairment
charges.
Forest City Enterprises Inc.'s (FCEA) fiscal first-quarter
earnings fell 50% amid fewer gains on property sales and joint
ventures.
Genesee & Wyoming Inc. (GWR) named David A. Brown as its
chief operating officer, replacing James W. Benz, who is retiring
from the railroad company in the beginning of 2013.
Moody's Investors Service lowered its ratings on wafer maker
MEMC Electronic Materials Inc. (WFR) one notch further into
speculative territory, pointing to financial distress in the
company's solar operations.
Piedmont Natural Gas Co.'s (PNY) fiscal second-quarter earnings
rose 5.9% as the natural-gas distributor saw lower gas expenses
make up for softer-than-expected revenue.
Quiksilver Inc.'s (ZQK) fiscal second-quarter loss narrowed as
the outdoor sports outfitter recorded fewer impairment charges and
a smaller provision for income taxes.
Thor Industries Inc.'s (THO) fiscal third-quarter profit rose
3.3% as the recreational-vehicle maker's sales strengthened, though
margins narrowed. The company said an "elevated RV promotional
environment" has thwarted further margin expansion.
Viacom Inc. (VIAB, VIA) unveiled plans to offer $400 million in
notes to raise funds for general corporate purposes.
Write to Mia Lamar or Corrie Driebusch at
mia.lamar@dowjones.com
