Among the companies with shares expected to actively trade in
Tuesday's session are Impax Laboratories Inc. (IPXL), Ascena Retail
Group Inc. (ASNA) and Santarus Inc. (SNTS).
Impax said Food and Drug Administration inspectors have found
continuing problems at its Hayward, Calif., manufacturing facility
that may affect new and pending drug applications. Shares tumbled
20% to $16 in premarket trading.
Ascena's fiscal second-quarter earnings fell less than analysts
expected and the women's apparel retailer also stood pat on its
full-year guidance. "Between core businesses finally stabilizing
and accretion from the new divisions, [Ascena] could be one of the
more compelling stories in our space," FBR said, raising per-share
earnings estimates. Shares rose 13% in premarket trading.
Santarus's fourth-quarter earnings nearly tripled as the
specialty biopharmaceutical company reported double-digit revenue
growth and also provided upbeat earnings guidance for the current
year. Shares climbed 8.7% to $15 premarket.
Vornado Realty Trust (VNO) moved to dump more than 40% of its
holdings in department store chain J.C. Penney Co.(JCP), cutting
its losses on a drastic and failing turnaround that the activist
investor helped spark. J.C. Penney shares were off 2.9% to $16.25
premarket.
Energy company Williams Partners L.P. (WPZ) plans to offer 10
million units representing limited-partner interests. At the same
time, the company will sell three million units to affiliate
Williams Cos. (WMB) in a private placement. Williams Partners
expects to have 411 million units outstanding after the offering,
and plans to use the proceeds to pay down debt. Units dropped 3.3%
to $48.88 premarket.
Quinpario Partners LLC reported a 10% stake in Zoltek Cos.
(ZOLT) and is seeking to remove all of the company's directors,
saying the carbon fibers manufacturer has significantly
underperformed both commercially and financially. Shares were up
9.7% to $10.15 premarket.
Watchlist:
ABM Industries Inc.'s (ABM) fiscal first-quarter earnings
climbed 26% as recent acquisitions helped boost the
facility-services contractor's revenue and as it recorded a smaller
tax provision. Results topped analyst expectations.
Electrical-product maker AZZ Inc. (AZZ) said Chief Executive
David H. Dingus has been diagnosed with pancreatic cancer and will
undergo aggressive treatment starting this week.
Casella Waste Systems Inc.'s (CWST) fiscal third-quarter loss
narrowed as charges related to an investment weighed on the
waste-management company's year-ago results, although revenue was
relatively flat in the latest period.
Coinstar Inc. (CSTR) said it plans to privately offer $300
million in senior unsecured notes due 2019 and will use proceeds
for general corporate purposes.
K12 Inc. (LRN) has agreed to a $6.75 million payment by its
insurance carriers to settle allegations that the online education
company didn't properly disclose student enrollment and retention
data.
Leggett & Platt Inc. (LEG) said its Chief Operating Officer
Karl Glassman will take on the additional title of president and
said it expects Chief Executive David Haffner to be elected
chairman at the diversified manufacturer's board meeting in
May.
MRC Global Inc. (MRC) said its biggest stockholder, PVF Holdings
LLC, has launched an offering of 17 million shares. The company,
which distributes pipes, valves and fittings to the energy and
industrial sectors, had 101.6 million shares outstanding as of Feb.
27.
Fitch Ratings upgraded Pioneer Natural Resources Co. (PXD) a
notch to investment grade, noting the energy company's production
growth and strong reserves.
Moody's Investors Service lowered its rating on RadioShack Corp.
(RSH) one notch further into junk territory, pointing to the
consumer-electronics retailer's steep decline in operating
performance and profitability.
SHFL Entertainment Inc.'s (SHFL) fiscal first-quarter profit
fell 7.6% as the casino-games company reported higher costs related
to growth and litigation, masking revenue growth.
Write to Mia Lamar at mia.lamar@dowjones.com
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