U.S. Hot Stocks: Hot Stocks to Watch
April 06 2016 - 8:39AM
Dow Jones News
Among the companies with shares expected to trade actively in
Wednesday's session are Pfizer Inc. (PFE), Allergan PLC (AGN) and
Constellation Brands Inc. (STZ).
Pfizer said Wednesday that it would walk away from its planned
$150 billion takeover of Allergan after the Obama administration
took aim at the deal that would have moved the biggest drug company
in the U.S. to Ireland to lower its taxes. Pfizer shares rose 1.23%
to $31.74 in premarket trading. Allergan shares fell 1.92% to
$232.00 premarket.
Constellation Brands on Wednesday said that it agreed to acquire
the Prisoner Wine Co. portfolio of brands from Huneeus Vintners and
that it is weighing a spinoff of its Canadian wine business. The
company also posted better-than-expected results for its fourth
quarter and gave upbeat guidance for the current year. Shares rose
4.12% to $157.60 premarket.
Monsanto Co. (MON) said profit tumbled in its latest quarter as
the world's biggest seller of corn and soybean seeds continues to
grapple with an unfavorable agricultural market. Shares fell 1.51%
to $84.80 premarket.
Acuity Brands Inc. (AYI) reported its profit jumped 41% in its
latest quarter as increased sales volume from recent acquisitions
continued to bolster results. Shares rose 7.11% to $241.00
premarket.
Cree Inc. (CREE) said Tuesday that fiscal third-quarter revenue
will be lower than expected due to product delays and other issues
at its lighting business.
Intel Corp. (INTC) on Tuesday said it is changing its financial
reporting structure, a move that will provide more details about
three of the chip maker's businesses.
U.S. health regulators have approved for sale Pfizer's
lower-priced "biosimilar" version of Remicade, a Johnson &
Johnson (JNJ) and Merck & Co. (MRK) treatment for rheumatoid
arthritis.
Lumber Liquidators Holdings Inc. (LL) received a favorable
ruling Monday in a civil case that had accused it of violating a
California state law that requires customer notification of
exposure to toxic chemicals.
Plastic manufacturer A. Schulman Inc. (SHLM) on Tuesday reported
lower adjusted earnings as the company had deep contractions in its
oil and gas business as well as slowdowns in other markets in
Europe and North America.
Wynn Resorts Ltd. (WYNN) on Tuesday reported a further slowdown
in Macau weighed on its overall results for the March quarter.
Preliminary results released by the casino operator for the quarter
ended March 31 show revenue and a key earnings metric declining
from the year-ago period in Macau, one of the world's biggest
gambling centers. Results were relatively flat in Las Vegas.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
April 06, 2016 09:24 ET (13:24 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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