U.S. HOT STOCK FUTURES: HOT STOCKS to WATCH
06/18/2012| 08:49am US/Eastern
Among the companies with shares expected to actively trade in Monday's session are DSW Inc. (>> DSW Inc.), Infinity Pharmaceuticals Inc. (INFI) and Steel Dynamics Inc. (STLD.
Shoe retailer DSW projected weak fiscal second-quarter earnings, pointing to more clearance-priced sales as well as costs tied to its expansion plans. Shares slumped 11% to $52.07 in recent premarket trading.
Infinity is ending Phase 2 trials of its experimental drug, saridegib, to treat bone and cartilage cancers, saying results have been disappointing. Earlier this year, the company discontinued its Phase 2 studies of saridegib for the treatment of pancreatic cancer. Shares dropped 18% to $11.40 premarket.
Steel Dynamics forecast second-quarter earnings below analyst expectations, pointing to a decline in sheet-steel prices. Shares fell 4.2% to $10.56 premarket.
Women's accessories and apparel retailer Body Central Corp. (>> Body Central Corp) lowered its already disappointing forecast for the second quarter, citing soft sales. The company also reduced its full-year targets as same-store sales in the second quarter are now seen falling 7% to 9%. Shares slumped 23% to $12.40 in premarket trade.
The Food and Drug Administration said its own analysis of compounded versions of the active ingredient in K-V Pharmaceuticals's (KVA, KVB) premature-birth prevention Makena drug did not identify any major safety problems, but reiterated that approved drugs are generally safer and more effective than compounded products.
Drug maker Merck & Co. (>> Merck & Co., Inc.) said a U.S. district court ruled against it in a patent-infringement suit involving Apotex Inc.
PetSmart Inc. (>> PetSmart, Inc.) raised its quarterly dividend 18% and authorized a new $525 million share buyback, making the retailer for pet products the latest company to look to boost shareholder value.
Health-benefits provider WellPoint Inc. (WLP) said it will pay $90 million to resolve a lawsuit related to its initial public offering and lowered its full-year earnings projections.
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