U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
08/15/2012| 08:59am US/Eastern
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Among the companies with shares actively trading premarket Wednesday are Staples Inc. (>> Staples, Inc.), Deere & Co. (>> Deere & Company) and JDS Uniphase Corp. (>> JDS Uniphase Corporation).
Staples posted a 32% slump in profit in its latest quarter, hurt by an unexpected downturn in North American sales trends and continued sluggishness abroad. The nation's largest office supply chain also lowered its full-year guidance, sending shares tumbling 13% to $11.69 in premarket trading.
Deere's fiscal third-quarter earnings rose a less-than-expected 11% as sales came under pressure from weaker international demand and short-term manufacturing issues. Shares dropped 5% to $76.09 in premarket trading after Deere also cut its view for the year. Fellow machinery maker Caterpillar Inc. (>> Caterpillar Inc.) also traded lower, shedding 1.6% to $86.51.
JDS Uniphase swung to a fiscal fourth-quarter loss as the broadband-products maker saw shrinking revenue from its core business segments, and said its chief financial officer has resigned. However, adjusted profits beat analyst estimates while revenue topped the company's expectations. Shares rose 5.1% to $11.21 premarket.
Physicians Formula Holdings Inc. (>> Physicians Formula Holdings, Inc.) agreed to be taken private in a deal valuing the cosmetics and skin care company at roughly $58 million. The agreement with private-equity firm Swander Pace Capital offers holders of the company's stock $4.25 a share, a 15% premium to its most recent close. Shares jumped 14% to $4.20 in premarket trading.
Greif Inc. (>> Greif, Inc.) cut its full-year earnings guidance, citing lower than expected third-quarter volumes for its rigid industrial packaging and flexible products businesses. Shares fell 5.3% to $41 premarket.
KIT digital Inc.'s (>> KIT digital, Inc.) second-quarter loss widened sharply as the video-management software company worked to undertake a business transformation. Results missed analyst expectations. Shares were off 6.7% to $2.80 premarket.
Canadian Solar Inc. (>> Canadian Solar Inc.) swung to a second-quarter loss as lower selling prices continued to dampen results from the solar panel and equipment maker. Shares tumbled 13% to $2.64 premarket.
Ellington Financial LLC (>> Ellington Financial LLC) has commenced an offering of 3.5 million shares representing limited liability company interests. The specialty finance company plans to use the proceeds to buy its targeted assets, including prime and subprime mortgage-backed securities. Shares were off 4.5% to $22.35 premarket.
TICC Capital Corp. (>> TICC Capital Corp.) said it is offering 2 million shares as the company seeks to raise money for general purposes, which may include investing in corporate debt and equity, and in structured finance vehicles. Shares of TICC Capital, which provides funding to tech companies, slipped 2.6% to $9.65 premarket.
Watchlist:
American Apparel's second-quarter loss widened as a gain on the change in the fair value of warrants and purchase rights boosted the branded-apparel retailer's year-ago results, though revenue improved.
Moody's Investors Service raised its outlook on American Water Works Co. (>> American Water Works Co., Inc.) to positive from stable, saying the utility company has made considerable progress since it spun off from RWE AG (RWEOY, RWE.XE) in 2008.
Bob Evans Farms Inc.'s (>> Bob Evans Farms Inc) fiscal first-quarter earnings fell 16% as the restaurant-chain operator saw restructuring and other one-time costs, as well as softer margins, weaken results.
Jack Henry & Associates Inc.'s (>> Jack Henry & Associates, Inc.) fiscal fourth-quarter earnings increased 18% as the financial-services company's revenue continued to strengthen.
New York Times Co. (>> The New York Times Company) said BBC Director-General Mark Thompson will become its new president and chief executive.
Vail Resorts Inc. (>> Vail Resorts, Inc.) said Chief Financial Officer Jeff Jones plans to retire at the end of the year, and it will begin a search for his replacement.
Write to Mia Lamar at mia.lamar@dowjones.com
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Stocks mentioned in the article :
Staples, Inc.,
Greif, Inc.,
JDS Uniphase Corporation,
Jack Henry & Associates, Inc.,
KIT digital, Inc.,
Vail Resorts, Inc.,
The New York Times Company,
Physicians Formula Holdings, Inc.,
Ellington Financial LLC,
American Water Works Co., Inc.,
Bob Evans Farms Inc,
Caterpillar Inc.,
Canadian Solar Inc.,
Deere & Company,
TICC Capital Corp.
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