Among the companies with shares expected to actively trade in
Friday's session are Aeropostale Inc. (ARO), Pandora Media Inc. (P)
and Hibbett Sports Inc. (HIBB).
Aeropostale swung to a fiscal second-quarter loss as the company
became the latest youth-focused apparel retailer to record a sharp
drop in same-store sales. Shares fell 15% to $9.26 premarket as the
company issued current quarter guidance well below consensus
views.
Pandora's fiscal second-quarter loss widened as the
Internet-radio provider recorded an increase in expenses, though
revenue continued to improve. Shares were down 6.8% to $20.23
premarket as the company gave weak earnings guidance for the third
quarter.
Hibbett Sports' fiscal second-quarter earnings rose 34% as sales
grew and the company continued to beef up its store count. However,
the sporting-goods retailer lowered its earnings guidance for the
year citing uncertainties in the economy. They company also lowered
its same-store sales growth estimate. Shares fell 8.5% to $53.50
premarket.
Travelocity is teaming up with longtime rival Expedia Inc.
(EXPE) to power the core of its business: finding hotels and
airfares. The two companies said Thursday that they are entering a
long-term agreement under which Expedia will handle most of
Travelocity's operations, from running searches to answering
customers' questions to processing bookings. In turn, Travelocity
will largely become a brand aimed at attracting customers to its
website rather than a true travel agency. Expedia shares rose 6% to
$49.25 premarket.
Ann Inc.'s (ANN) fiscal second-quarter earnings rose a
better-than-expected 16% as the women's apparel retailer posted
stronger sales at both its Ann Taylor and Loft brands, though
margins slipped. Shares rose 3% to $33.60 premarket, although the
company did again lower its outlook for the year.
Independent Bank Corp. (IBCP) said that its 11.5 million share
offering priced at $7.75 per share, a 7.7% discount to Thursday's
close. The Michigan bank holding company said it intends to use the
proceeds from the offering to buy back all of its convertible
preferred stock from the U.S. Treasury, which was purchased under
the Troubled Asset Relief Program from the financial crisis of
2008, for an aggregate payment of $81 million. Independent Bank
recently had about 9.5 million shares of its common stock
outstanding. Shares fell 2.9% to $8.16 premarket.
Watchlist:
Aruba Networks Inc.'s (ARUN) fiscal fourth-quarter loss widened
as the wireless-equipment maker's growing expenses outpaced a rise
in revenue.
Autodesk Inc.'s (ADSK) fiscal second-quarter profit shrank 4.5%
as the design-software company's license revenue slumped, though
subscription revenue offset some of that decline. The company
forecast weaker-than-expected third-quarter results.
Gap Inc.'s (GPS) fiscal second-quarter profit jumped 25% as
sales grew at the apparel retailer's namesake and Old Navy stores,
strong results that led the company to raise its full-year earnings
target.
Moody's Investors Service put the debt ratings of the six
largest U.S. banks on review, reflecting uncertainty regarding U.S.
policies for supporting distressed banks. Moody's placed on review
for downgrade the senior debt ratings of Goldman Sachs Group Inc.
(GS), J.P. Morgan Chase & Co. (JPM), Morgan Stanley (MS) and
Wells Fargo & Co. (WFC). The senior debt ratings of Bank of
America Corp. (BAC) and Citigroup Inc. (C) were placed on review,
with direction uncertain, as the ratings firm takes into account
improvements in the standalone credit strength of their main
subsidiaries.
Standard & Poor's Ratings Services has raised its outlook to
positive on Louisiana-Pacific Corp. (LPX) as the
construction-materials company gets a boost from a recovering
housing market.
Marvell Technology Group Ltd.'s (MRVL) fiscal second-quarter
earnings fell 34% as the chip maker was hurt by higher costs as
well as slightly weaker margins and revenue.
Mentor Graphics Corp.'s (MENT) fiscal second-quarter net grew
32% as the chip-design software company reported sales and profit
growth that exceeded expectations.
New York & Co.'s (NWY) fiscal second-quarter loss narrowed
as rising same-store sales and margins offset a decline in total
sales due to store closures, though results missed Wall Street's
expectations.
Nordson Corp.'s (NDSN) fiscal third-quarter earnings slipped
1.9% as the maker of dispensing equipment logged weaker margins.
Sales fell short of Nordson's own expectations and the company
offered current-quarter guidance below analyst consensus
estimates.
Moody's Investors Service has placed its rating on Pilgrim's
Pride Corp. (PPC) on review for a potential upgrade, citing the
poultry processor's improved operating performance and significant
amount of debt repaid over the past year.
RetailMeNot Inc.'s (SALE) second-quarter earnings fell 5.8% as
the online-coupon company's strong revenue growth was overshadowed
by soaring costs in the company's first quarterly report since its
initial public offering last month.
Ross Stores Inc.'s (ROST) fiscal second-quarter profit rose 17%
as the discount clothing and home-goods retailer posted sales
growth and stronger profit margins.
Moody's Investors Service downgraded Weight Watchers
International Inc. (WTW) by a notch, saying the weight-loss company
has ceded ground to online competitors.
Write to Anna Prior at anna.prior@wsj.com
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