Among the companies with shares expected to actively trade in
Tuesday's session are RadioShack Corp. (RSH), Assisted Living
Concepts Inc. (ALC) and Caesars Entertainment Corp. (CZR).
RadioShack reported its fourth straight quarterly loss Tuesday
as the consumer electronics chain's overall sales continued to
decline. The fourth-quarter miss that included a 7% same-store
sales drop shows how last month's stock surge could show too-early
investor optimism about RadioShack and the extent to which new
chief executive Joseph Magnacca needs to work to keep the retailer
from becoming irrelevant. Shares fall 3.6% to $2.94 premarket.
Assisted Living Concepts agreed to be acquired by private equity
firm TPG for $278 million. TPG has offered $12 a share for Class A
shares of the Wisconsin-based operator of senior living residences,
and the agreement was unanimously approved by Assisted Living's
board of directors. Shares rose 22% to $11.86 premarket.
Caesars' fourth-quarter loss widened as superstorm Sandy
contributed to the casino operator's revenue shortfall and results
were also hurt by significant impairment charges. Shares slid 8.5%
to $10.72 premarket as revenue missed analysts' estimates, although
the net loss was within the company's projections.
Vivus Inc.'s (VVUS) fourth-quarter loss widened as the
biopharmaceutical company recorded sharply higher operating
expenses. Shares slipped 9.5% to $11.23 premarket as the loss was
wider than analysts had expected and as the company reported
disappointing sales of its obesity drug, Qsymia.
CommonWealth REIT (CWH) said it is selling 27 million shares to
raise funds to repurchase as much as $450 million of senior notes
that mature between next year and 2016. The company, which
primarily owns office properties, said the debt repurchase plan is
conditioned upon the stock sale. However, Corvex Management LP and
Related Fund Management LLC unveiled a collectively owned 9.8%
stake in the real estate investment trust and called on
Commonwealth to cease the equity offer. Shares rose 17% to $18.60
premarket.
MediciNova Inc. (MNOV) said its MN-166 drug as a treatment for
methamphetamine dependence has been granted fast-track status by
the Food and Drug administration. Shares rose 25% to $2.67
premarket.
For-profit educator Apollo Group Inc. (APOL) said the group that
accredits its University of Phoenix recommended the university be
placed on probation after determining it is too closely tied to
Apollo. Shares fell 1.7% to $17.53 premarket as the
recommendation--issued in a draft report related to the
university's ongoing accreditation review--caught investors by
surprise.
Enbridge Energy Management LLC (EEQ) has commenced an offering
of nine million of its listed shares as the energy company looks to
raise funds to repay commercial paper, finance a portion of its
capital expansion program and for general partnership purposes.
Enbridge had 41.9 million shares outstanding as of Feb. 14. Shares
slipped 5.3% to $26.92 premarket.
Radian Group Inc. (RDN) is offering up to 30 million of its
shares and $200 million aggregate principal amount of its
convertible senior notes due 2019. The mortgage insurer plans to
use proceeds from both offerings to fund working capital
requirements and for general corporate purposes. Radian had 133.7
million shares outstanding as of Feb. 19. Shares were down 6.1% to
$7.65 premarket.
Titan International Inc. (TWI) swung to a fourth-quarter loss as
the tire maker reported higher expenses and a larger tax provision,
though sales improved. Shares slid 12% to $22.01 premarket, as
adjusted earnings and revenue missed analysts' expectations.
Autodesk Inc.'s (ADSK) fourth-quarter earnings rose 3.5% as the
design-software company reported revenue growth excluding currency
fluctuations in its Europe/Middle East and Africa segment and its
Asia-Pacific business offset declines in the Americas and in
emerging economies. Shares were down 2.7% at $35.75 in premarket
trading as Autodesk's first-quarter guidance missed
expectations.
Watchlist:
Health Care REIT Inc.'s (HCN) fourth-quarter earnings more than
doubled as the company saw stronger rental income and resident fees
and posted a significantly higher gain on sales of properties.
Humana Inc. (HUM) said Chief Financial Officer James H. Bloem
will retire Dec. 31, and the health insurer has launched an
internal and external search for his successor.
Oasis Petroleum Inc. (OAS) swung to a fourth-quarter profit as
the oil-and-gas producer reported sharply higher production and
revenue and the year-earlier period was hurt by net
derivatives-related losses.
Oneok Inc.'s (OKE) fourth-quarter earnings fell 3% as its Oneok
Partners LP (OKS) business reported that its profit fell 43% in the
fourth quarter amid significantly narrower natural gas liquids
price differentials.
Shanda Games Ltd.'s (GAME) fourth-quarter profit fell 30% as the
game developer reported weaker online-game revenue in China, its
largest market.
Sinclair Broadcast Group Inc. (SBGI) has reached a $99 million
deal to buy four television stations owned by Cox Media Group and
also agreed to provide sales services to one other station.
Stifel Financial Corp.'s (SF) fourth-quarter earnings jumped 48%
as the midsize broker recorded broad-based revenue growth.
URS Corp.'s (URS) fourth-quarter earnings more than doubled as a
recent acquisition helped boost the construction and engineering
company's revenue and as a write-down weighed on year-earlier
results.
Write to Anna Prior at anna.prior@dowjones.com
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