Among the companies with shares expected to actively trade in
Wednesday's session are Office Depot Inc. (ODP), OfficeMax Inc.
(OMX) and NetSpend Holdings Inc. (NTSP).
Office Depot Inc. confirmed it will merge with OfficeMax Inc. in
an all-stock deal that values the rival office-supplies retailer at
roughly $1.19 billion. Office Depot said it will issue 2.69 new
shares--valuing OfficeMax at $13.50 a share based on Tuesday's
close--for each OfficeMax share outstanding. The stock-swap value
is a 3.8% premium to Tuesday's close. Shares of Office Depot were
recently trading 9% higher at $5.48 premarket, while OfficeMax
shares jumped 10% to $14.33.
Payment processor Total System Services Inc. (TSS) said Tuesday
it has agreed to buy prepaid-debit-card provider NetSpend Holdings
Inc. for about $1.4 billion in cash. The purchase price equates to
$16 per share. NetSpend shares climbed 30% to $15.99 premarket.
NetSpend competitor Green Dot Corp. (GDOT) shares jumped 9.4% to
$16 as the deal rekindled hopes that the prepaid-debit-card
provider may also be a takeover candidate.
Harvest Natural Resources Inc. (HNR) said a deal under which
Indonesia's state-owned PT Pertamina had agreed to buy its
interests in Venezuela for $725 million has fallen through. Shares
plunged 30% to $5.60 in recent premarket trading.
Web publisher Demand Media Inc. (DMD) said it is considering
spinning off its domain services division from its larger and
faster-growing online content business. Shares soared 17% to $9.20
premarket.
Italian pharmaceutical company Chiesi Farmaceutici SpA offered
to acquire Cornerstone Therapeutics Inc. (CRTX) in a deal valuing
the company at as much as $177.2 million as the major shareholder
looks to take the drug-discovery company private. Shares were up
15% to $6.32 premarket.
Allscripts Healthcare Solutions Inc. (MDRX) swung to a
fourth-quarter loss as the electronic health-records company was
hit by weaker sales, a deferred-revenue provision and other items.
However, shares were up 5.3% at $11.77 in premarket trading as
analysts said the company turned in solid bookings during the
quarter.
La-Z-Boy Inc.'s (LZB) fiscal third-quarter earnings rose 14% as
the furniture company reported higher revenue and saw its retail
segment swing back to profitability. Shares rose 11% to $17.15 in
premarket trading as results beat analysts' expectations.
Millennial Media Inc. (MM) swung to a fourth-quarter profit as
revenue at the mobile-advertising service provider strengthened,
masking higher expenses. However, shares slumped 26% to $10.60
premarket as revenue growth missed the company's expectations and
as it offered first-quarter sales guidance that missed Wall Street
expectations.
Rambus Inc. (RMBS) raised its first-quarter revenue guidance
after the company signed a patent-license agreement with LSI Corp.
(LSI). Shares of Rambus, which licenses technology used to
accelerate the performance of memory, rose 7.9% to $6.30
premarket.
Watchlist:
Analog Devices Inc.'s (ADI) fiscal first-quarter earnings fell
5.9% as the chip maker continued to face weak demand, with most of
its segments posting softer revenue, led by its automotive
business.
Bob Evans Farms Inc.'s (BOBE) fiscal third-quarter profit slid
73% as the restaurant-chain operator posted several one-time
expenses, though same-store sales at its namesake restaurants
continued to grow.
CC Media Holdings Inc.'s (CCMO) fourth-quarter loss widened,
while sister company Clear Channel Outdoor Holdings Inc. (CCO)
swung to a loss amid debt-extinguishment charges and lower
revenue.
CF Industries Holdings Inc.'s (CF) fourth-quarter earnings rose
7.2% as derivative gains boosted the fertilizer producer's
bottom-line results and as it recorded a smaller tax provision,
though revenue declined.
Dell Inc.'s (DELL) fiscal fourth-quarter earnings fell 31% as
the computer company recorded double-digit revenue declines from
its personal computer and mobility segments.
Nutritional-supplements maker Herbalife Ltd. (HLF), embroiled in
a battle with hedge-fund manager William Ackman over the legitimacy
of its business model, reported a 12% increase in fourth-quarter
earnings and raised its profit outlook for the year ahead.
Marriott International Inc.'s (MAR) fourth-quarter earnings
jumped 28% as the hotel-industry bellwether reported stronger
revenue per available room and higher average daily rates.
Michael Kors Holdings Ltd. (KORS) said certain stockholders plan
to offer 25 million shares, as investors look to cash in following
a recent runup of the specialty retailer's shares. The company had
about 200.3 million ordinary shares outstanding as of Feb. 13,
according to a regulatory filing.
Nabors Industries Ltd. (NBR) swung to a fourth-quarter profit as
the oil-and-gas drilling contractor reported fewer losses from
discontinued operations, though the company's performance also was
hit by a slowdown in North American onshore activity. The company
also predicted a marked decline in first-quarter income given low
rig counts and depressed spot market rates.
NorthStar Realty Finance Corp. (NRF) plans to offer 30 million
shares as the real-estate investment trust looks to raise funds for
investments, repurchase or pay its liabilities and for general
corporate purposes. NorthStar had 163.6 million shares outstanding
as of Feb. 15.
Fourth-quarter profit at Northeast Utilities (NU) rose 54% on
the addition of revenue from Nstar.
Oncolytics Biotech Inc. (ONCY, ONC.T) plans to offer an
undisclosed number of shares and will use proceeds to fund its
clinical-trial program, manufacturing program and for general
corporate purposes. The biotechnology firm had about 76.8 million
shares outstanding before the offering.
Owens & Minor Inc. (OMI) named medical-device industry
veteran Richard A. Meier as the medical-products distributor's
chief financial officer about a year after his predecessor
transitioned to the role of chief operating officer amid a slew of
management changes.
Audley Capital will nominate five candidates for election to
Walter Energy Inc.'s (WLT) board, saying the coal company's
leadership has made questionable financial decisions.
-Write to Mia Lamar at mia.lamar@dowjones.com
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