Among the companies with shares expected to actively trade in
Wednesday's session are Dell Inc. (DELL), RailAmerica Inc. (RA) and
PetSmart Inc. (PETM).
Dell's fiscal first-quarter earnings slipped 33% as the computer
maker reported lower revenue in its consumer, public and large
enterprise customer segments because of increased competition and
poor execution. Shares slid 13% to $13.05 in premarket trading as
earnings missed analyst expectations and the company issued
downbeat revenue guidance for the current quarter. Shares of rival
Hewlett-Packard Co. (HPQ), which reports after-hours Wednesday,
fell 2.3% to $21.29 after hours.
RailAmerica said Tuesday its board is considering strategic
alternatives for its business, including a potential sale of the
company. Shares jumped 11% to $24.50 premarket.
PetSmart's fiscal first-quarter earnings jumped a
better-than-expected 34% as the pet-products retailer posted a
strong rise in same-store sales and margins improved. Shares soared
8.4% premarket to $60.30 as the company boosted its estimates for
the year.
Analog Devices Inc. (ADI) reported fiscal second-quarter results
at the high end of its outlook amid a boost from its industrial
operations, and it provided further evidence that demand for its
products was rebounding. However, the chip maker's guidance for the
current quarter was softer than analysts expected. Shares slid 3.6%
to $34.50 premarket.
Big Lots Inc.'s (BIG) fiscal first-quarter profit sank 22% as
the closeout retailer saw same-store sales decline in the U.S., and
posted a loss from its newly acquired Canadian operations. Earnings
results fell short of the company's expectations, and Big Lots also
lowered its full-year adjusted earnings outlook. Shares tumbled
6.1% to $32.68 premarket.
American Eagle Outfitters Inc. (AEO) fiscal first-quarter
earnings rose 40% as the teen- and young-adult clothing retailer
recorded double-digit same-store-sales growth across its main
businesses. Shares of the retailer dropped 2.5% to $19.30 premarket
as the company said inventories were up 14%.
Genesco Inc.'s (GCO) fiscal first-quarter earnings rose 39% as
the seller of hats and footwear posted stronger-than-expected sales
growth. Results surged past estimates, and the company also raised
its full-year adjusted earnings estimate. Shares rose 9.5% to
$77.63 premarket.
Facebook Inc. (FB) shares rose 1.7% to $31.54 in premarket
trading Wednesday as the stock seeks to reverse its two-day losing
streak amid further analysis of what went wrong with the company's
initial public offering.
Barclays PLC's (BCS, BARC.LN) offering of 26.2 million common
shares of BlackRock Inc. (BLK) priced at a 2.1% discount to
BlackRock's Tuesday closing price. BlackRock shares slid 1.5% to
$160.90 premarket, slightly above the offering price of $160 a
share.
Guess Inc.'s (GES) fiscal first-quarter income slumped 38% as
the apparel maker saw weaker European revenue and North American
same-store sales weigh down results. But shares were up 6.4%
premarket to $26, as the company beat its guidance for the
quarter.
Trina Solar Ltd. (TSL) swung to a wider-than-expected
first-quarter loss as the Chinese solar-products maker's margins
were squeezed by provisions for anti-dumping duties. Shares tumbled
7.3% to $4.94 premarket.
Suntech Power Holdings Co. (STP, K3ND.SG) swung to a
first-quarter loss as the solar-panel maker made provisions for
U.S. antidumping duties, on top of a decline in sales. Suntech's
American depositary shares slipped 2.5% to $1.93 premarket.
Zale Corp.'s (ZLC) fiscal third-quarter loss narrowed as the
jewelry retailer continued to post same-store sales growth, led by
its domestic business. Shares rose 15% to $2.69 premarket.
Watchlist
Altria Group Inc. (MO) said it reached a settlement with the
Internal Revenue Service over certain leveraged lease transactions,
in which it will pay $500 million in federal and state income taxes
and interest. The parent of tobacco company Philip Morris also
raised its full-year earnings guidance as the IRS deal requires it
to pay less interest expense than it anticipated.
Avago Technologies Ltd.'s (AVGO) fiscal second-quarter earnings
eased 0.7% amid higher operating costs and weaker margins, though
the company reported continued revenue growth. Adjusted earnings
exceeded expectations.
Collective Brands Inc.'s (PSS) fiscal first-quarter earnings
rose 26% as the company posted broad sales growth.
Fitch Ratings lowered its investment-grade ratings on Computer
Sciences Corp. (CSC) by one notch, pointing to the information
technology company's greater-than-expected profitability pressures
and unresolved contract renegotiations with the U.K.'s National
Health Services.
Compuware Corp. (CPWR) fiscal fourth-quarter earnings sank 22%
on softer professional service fees and higher expenses. But shares
the software company posted slightly better-than-expected revenue
and reported large increases in software license fees and
application service fees.
Massachusetts Secretary of the Commonwealth William Galvin said
his office Tuesday issued a subpoena to Morgan Stanley (MS) related
to a company analyst's discussions with institutional investors on
Facebook Inc. (FB) prior to its tumultuous initial public
offering.
Nasdaq OMX Group Inc. (NDAQ) is facing a lawsuit seeking to
represent investors who sought to trade shares of Facebook Inc.
(FB) during its initial public offering last week, only to
allegedly suffer millions of dollars in losses because of trading
glitches.
Ralcorp Holdings Inc.'s (RAH) fiscal second-quarter earnings
fell 69% as charges related to plant closures, a legal settlement
provision and merger costs weighed on the food maker's bottom-line
results. Separately, Ralcorp acquired private-label cookie maker
Petri Baking Products Inc., the latest acquisition in the
nonbranded food space. Financial terms weren't disclosed.
Moody's Investors Services raised its ratings on Sensata
Technologies N.V. (ST) one notch closer to investment grade,
pointing to the maker of sensors and controls' expected strong
margins.
Shoppers Drug Mart (SHDMF, SC.T) has agreed to acquire
substantially all of Paragon Pharmacies Ltd.'s (PGN.V) assets for
$75 million in cash, in a deal that will expand Shoppers's presence
in western Canada.
STAG Industrial Inc.'s (STAG) stock offering of 7.3 million
shares priced at Tuesday's closing price of $12.88.
Take-Two Interactive Software Inc.'s (TTWO) fiscal
fourth-quarter loss widened and the company's projections for the
current quarter fell far short of analysts' expectations.
Toll Brothers Inc. (TOL) swung to a bigger-than-expected profit
in the fiscal second-quarter, thanks in part to fewer inventory
writedowns, as the luxury homebuilder delivered more homes and saw
its cancellation rate drop.
Wet Seal Inc. (WTSLA) swung to a fiscal first-quarter loss as
impairment charges weighed on the teen apparel retailer's
bottom-line results and as revenue and margins weakened. The
company also issued a downbeat revenue forecast for the second
quarter.
-Edited By Corrie Driebusch and Nathalie Tadena, Dow Jones
Newswires; 212-416-2143; corrie.driebusch@dowjones.com