Among the companies with shares expected to actively trade in
Thursday's session are Sun Healthcare Group Inc. (SUNH), Bed Bath
& Beyond Inc. (BBBY) and Pozen Inc. (POZN).
Nursing home company Genesis HealthCare LLC will acquire Sun
Healthcare Group, in a deal that values the company at $217 million
and allows Genesis to strengthen its core business. Genesis will
acquire Sun for $8.50 a share, a 38% premium over its closing price
Wednesday. Sun shares jumped 35% to $8.28 after hours.
Bed Bath & Beyond's fiscal first-quarter profit improved
15%, topping estimates, as same-store sales and revenue continued
to climb for the home-furnishings retailer. Shares sank 11% after
hours to $65.88 as the company predicted downbeat second-quarter
earnings and saw its margins slide.
Pharmaceutical company Pozen said the U.S. Food and Drug
Administration disagreed with the company's preliminary review in
assessing the bioequivalence of its delayed-release aspirin tablet,
PA32540, to enteric-coated aspirin 325 mg. Shares fell 17% after
hours to $6.21.
Eagle Bulk Shipping Inc. (EGLE) said it reached an agreement
with a syndicate of its lenders, led by Royal Bank of Scotland
Group PLC (RBS, RBS.LN). The deal allows the dry-bulk shipper to
resolve all outstanding issues with its lenders and significantly
improves its position amid an ongoing downturn in shipping markets,
the company said. Shares climbed 23% to $3.68 after hours.
Key Energy Services Inc. (KEG) said it expects its
second-quarter results to miss its prior expectations and also cut
its full-year projections for U.S. revenue, pointing to
lower-than-expected growth in liquid shale markets this year and a
decline in natural gas prices. Shares slipped 6% to $9.20 after
hours.
Red Hat Inc.'s (RHT) stronger-than-expected first-quarter
earnings and sales aren't enough to soothe investors worried about
macro challenges turning today's beat into tomorrow's miss.
Susquehanna's Derrick Wood notes the software firm's investors
haven't had guidance or color on how Europe will affect Red Hat's
future earnings. Missing billings by about four percentage points
suggests those fears have their root in the Old Country. Shares
slid 9.75% to $50.99 after hours.
Watchlist:
Apartment Investment & Management Co. (AIV) has commenced an
offering of 11 million shares of its common stock to raise funds to
redeem preferred stock.
Apogee Enterprises Inc. (APOG) swung to a fiscal first-quarter
profit as the industrial-glass maker's margins strengthened and as
its architectural segment continued to benefit from higher prices
and volume growth. The company also raised its full-year earnings
outlook.
BlackRock Inc. (BLK) said one of its founding partners, Susan
Wagner, will retire as the money manager's vice chairman and will
join its board of directors.
Clarcor Inc.'s (CLC) fiscal second-quarter earnings edged up
0.4%, despite weaker revenue, as the filter-and-packaging company
saw lower expenses help results. Results missed expectations, and
the company cut its full-year earnings and revenue guidance, noting
it has experienced softer demand in several geographic and product
markets amid continuing economic uncertainty.
Moody's Investors Service raised its outlook on Community Health
Systems Inc. (CYH) to stable from negative, saying the hospital
operator should maintain strong margins and good liquidity.
Standard & Poor's Ratings Services raised its outlook on
Entergy Corp. (ETR) to stable from negative, pointing to
improvements in the company's regulated utility business.
GenMark Diagnostics Inc.'s (GNMK) offering of 10 million shares
of common stock priced at a 2.1% discount to Wednesday's closing
price.
Trian Fund Management L.P. disclosed in a Securities and
Exchange Commission filing that its chief executive, Nelson Peltz,
turned down a seat on Ingersoll-Rand Co.'s (IR) board, after the
company tried to impose restrictions on the investment fund.
Micron Technology Inc. (MU) extended its string of losses in its
fiscal third quarter, hurt by pricing weakness in the flash-memory
market.
Murphy Oil Corp. (MUR) has named Steve Cosse as its new
president and chief executive, replacing David Wood who is retiring
after 17 years at the oil producer.
Raymond James Financial Inc.'s (RJF) client assets under
administration declined during May as concerns about Europe's
economy led to weaker equities markets.
Sonic Corp. (SONC) swung to a better-than-expected fiscal
third-quarter profit, after the drive-in restaurant company was
saddled with debt-extinguishment costs a year earlier.
Steelcase Inc.'s (SCS) fiscal first-quarter earnings rose 76% as
continued revenue growth in the office-furniture maker's Americas
business offset declines in its Europe, Middle East and Africa
segment.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com