U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH

08/17/2012| 08:55am US/Eastern

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Among the companies with shares expected to actively trade in Friday's session are Marvell Technology Group Ltd. (>> Marvell Technology Group Ltd.), Ann Inc. (>> Ann Inc) and Foot Locker Inc. (>> Foot Locker, Inc.).

Marvell reported disappointing quarterly results and guidance as the chip maker suffered from weaker PC and smartphone demand and heightened competition in the Chinese phone market. Second-quarter results fell short of company estimates, while guidance for the current period was weaker than analysts had anticipated. Shares tumbled 9.7% to $11.09 in premarket trade.

Ann's fiscal second-quarter earnings jumped a better-than-expected 24% as the women's retailer benefited from across-the-board sales growth. Shares surged 11% to $31.30 in premarket trading as the company also lifted its view for the year.

Foot Locker's second-quarter profit jumped 59% as the athletic apparel and footwear chain saw its same-store sales pop, while margins also increased. Shares climbed 6.1% to $36.60 in premarket trading as results comfortably beat Wall Street expectations.

A Texas jury found geophysical services company ION Geophysical Corp. (>> Ion Geophysical Corp) "willfully infringed" upon patents held by a rival unit of Schlumberger Ltd. (>> Schlumberger Limited.), awarding $105.9 million in damages as a result. ION Chief Executive Brian Hanson said the company intends to challenge the ruling and "does not expect the ultimate outcome of this lawsuit to impact our ability to conduct business." Shares slumped 15% to $6.61 in premarket trade.

Jefferies cut its rating on Vivus Inc. (>> VIVUS, Inc.) to underperform from hold, citing concerns that physicians will prescribe a combination of two generic drugs in lieu of the company's newly approved weight-loss drug Qsymia. It also said it believes the company's defense against that risk--that physicians face increased liability--has been "overstated." Shares fell 6.6% to $21.27 in premarket trading.

DryShips Inc.'s (>> DryShips Inc.) second-quarter loss narrowed as revenue improved and vessel-impairment expenses weighed on year-ago results. However, shares fell 4.3% to $2.21 as results missed analyst expectations.

Ares Capital Corp. (>> Ares Capital Corporation) said it plans to offer 19 million shares in an effort to pay down debt and raise funds for general purposes, including investments in portfolio companies. The specialty finance company's shares were down 3.6% to $16.80 premarket.

PennyMac Mortgage Investment Trust (>> PennyMac Mortgage Investment Trust) is offering 12 million shares, intending to use the proceeds in part to buy residential mortgages. The real estate investment trust's shares fell 4.1% to $20.90 premarket.

 
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Aeropostale Inc.'s(>> Aeropostale, Inc.) fiscal second-quarter earnings sank 98% as the youth-focused retailer's expenses increased and as a one-time gain boosted the company's year-ago results. The company also gave a weak outlook for the current quarter, citing a soft start to the key back-to-school selling season.

America's Car-Mart Inc.'s (>> America's Car-Mart, Inc.) fiscal first-quarter profit edged down 2% as the used-car seller set aside more for credit losses, masking an increase in sales. Earnings missed Wall Street estimates.

Avago Technologies Ltd.'s (>> Avago Technologies Ltd) fiscal third-quarter income grew 0.7%, aided by lower operating costs and slightly higher revenue. However, the chip predicted downbeat fourth-quarter revenue.

Boardwalk Pipeline Partners LP (>> Boardwalk Pipeline Partners, LP) and its general partner have agreed to acquire PL Midstream LLC from PL Logistics LLC for $625 million in cash, as the oil and gas transporter company looks to diversify into industries that complement its core natural gas pipeline and storage businesses.

Brocade Communications Systems Inc. (>> Brocade Communications Systems, Inc.) said its chief executive is resigning after a seven-year tenure, as it reported that its fiscal third-quarter profit surged.

Fair Isaac Corp. (>> Fair Isaac Corporation) agreed to acquire risk-management software firm Adeptra Ltd. for $115 million in cash, giving the creator of the FICO credit score more offerings in business-management services.

Gap Inc.'s (>> The Gap Inc.) fiscal second-quarter earnings rose a better-than-expected 29% as the casual-apparel retailer reported stronger sales in North America and improved margins. The company also again raised its full-year earnings view.

Gardner Denver Inc. (>> Gardner Denver, Inc.) said it will cut jobs and consolidate manufacturing facilities, as it restructures its European operations in an effort to reduce expenses and increase efficiency.

New York & Co.'s (>> New York & Company, Inc.) fiscal second-quarter loss narrowed as the women's apparel retailer saw input costs shrink significantly, masking a slight drop in revenue and boosting margins.

Plains All American Pipeline LP (>> Plains All American Pipeline, L.P.) said its board has approved a two-for-one unit split, joining a growing list of companies that have stepped up shareholder-friendly initiatives to attract new investors.

Moody's Investors Service upgraded insurer Unum Group (>> Unum Group) further into investment-grade territory Thursday, saying the company's credit profile has strengthened over the past few years and has proven to be sustainable.

-Write to Nathalie Tadena at nathalie.tadena@dowjones.com

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