U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
06/21/2012| 06:39am US/Eastern
Among the companies with shares expected to actively trade in Thursday's session are Sun Healthcare Group Inc. (>> Sun Healthcare Group Inc), Bed Bath & Beyond Inc. (>> Bed Bath & Beyond Inc.) and Pozen Inc. (>> POZEN Inc.).
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. (>> Key Energy Services, Inc.) 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 (>> Red Hat, Inc.) 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.
Apartment Investment & Management Co. (>> Apartment Investment and Management Co.) has commenced an offering of 11 million shares of its common stock to raise funds to redeem preferred stock.
Apogee Enterprises Inc. (>> Apogee Enterprises, Inc.) 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. (>> BlackRock, Inc.) 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 (>> CLARCOR Inc.) 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. (>> Community Health Systems) 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. (>> Entergy Corporation) to stable from negative, pointing to improvements in the company's regulated utility business.
GenMark Diagnostics Inc.'s (>> GenMark Diagnostics, Inc) 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 (>> Ingersoll-Rand PLC) board, after the company tried to impose restrictions on the investment fund.
Micron Technology Inc. (>> Micron Technology, Inc.) extended its string of losses in its fiscal third quarter, hurt by pricing weakness in the flash-memory market.
Murphy Oil Corp. (>> Murphy Oil Corporation) 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 (>> Raymond James Financial, Inc.) client assets under administration declined during May as concerns about Europe's economy led to weaker equities markets.
Sonic Corp. (>> Sonic Corporation) 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 firstname.lastname@example.org
Stocks mentioned in the article : Sun Healthcare Group Inc
, Key Energy Services, Inc.
, Micron Technology, Inc.
, Murphy Oil Corporation
, POZEN Inc.
, Red Hat, Inc.
, Raymond James Financial, Inc.
, Sonic Corporation
, Ingersoll-Rand PLC
, GenMark Diagnostics, Inc
, Apogee Enterprises, Inc.
, Bed Bath & Beyond Inc.
, BlackRock, Inc.
, CLARCOR Inc.
, Community Health Systems
, Entergy Corporation
, Apartment Investment and Management Co.