Among the companies with shares expected to actively trade in
Thursday's session are Bed Bath & Beyond Inc. (BBBY), Family
Dollar Stores Inc. (FDO) and Intercept Pharmaceuticals Inc.
(ICPT).
Bed Bath & Beyond fiscal third-quarter earnings edged up
1.9% as the home-furnishings retailer recorded an increase in
sales. However, the company lowered its earnings outlook for the
fiscal year and current quarter and shares declined 9.1% to $72.47
premarket.
Cato Corp. (CATO), a specialty retailer of value-priced fashion
apparel and accessories, trimmed its earnings expectations for the
year, after posting softer December sales. Shares edged down 3.9%
to $30 in light premarket trading.
Family Dollar Stores lowered its full-year earnings
expectations, as the discount retailer posted weaker first-quarter
same-store sales and warned of continued revenue challenges in the
new year. Shares dropped 7.3% to $61.50 premarket.
Ford Motor Co. (F) increased its quarterly dividend by 25%,
following a sharp selloff of the auto maker's shares since it
warned of weaker profits in 2014. The company raised the payout to
12.5 cents a share, up from 10 cents. The increase should cost Ford
an additional $97 million a quarter. Shares edged up 1.2% to $15.72
premarket.
Fred's Inc. (FRED) said it hired advisers to explore strategic
options for the discount merchandise retailer as it reported its
holiday sales were somewhat disappointing and it outlined a revamp
of its merchandising and marketing teams. Shares rose 4.8% to
$18.61 premarket.
Global Payments Inc.'s (GPN) fiscal second-quarter profit jumped
5.3% as the credit-card processor reported higher revenue, though
operating margin narrowed. Results for the period exceeded Wall
Street's expectations, pushing shares up 2.5% to $66 premarket.
Intercept Pharmaceuticals said a trial for its lead product
candidate was stopped early after the study already met its primary
endpoint. The trial was being conducted for obeticholic acid, a
potential treatment for the chronic liver disease nonalcoholic
steatohepatitis. Shares more than doubled premarket to $197.94.
L Brands Inc. (LB) lowered its earnings guidance for the fiscal
fourth quarter as incremental promotional activity led to
lower-than-expected merchandise margins. Shares dropped 4.5% to
$57.50 premarket.
Macy's Inc. (M) is laying off about 2,500 employees as part of a
plan to cut costs and generate $100 million in annual savings, a
move that helped the company issue an upbeat profit outlook for the
new fiscal year. Shares climbed 6.5% to $55.22 premarket.
Material Sciences Corp. (MASC) agreed to be acquired by Zink
Acquisition Holdings Inc. in a deal valued at $133 million. The
maker of acoustical materials also reported that its fiscal
third-quarter earnings fell 51% amid lower margins. Shares surged
14% to $12.75 premarket, matching the per-share offer price.
Mistras Group Inc.'s (MG) fiscal second-quarter earnings edged
up 1% as the company reported an increase in revenue, driven in
part by acquisitions. Adjusted earnings topped Wall Street's
estimates and the company boosted its revenue guidance. Shares rose
6.5% to $23.90 in light premarket trading.
Pier 1 Imports Inc. (PIR) cut its full-year earnings guidance,
after the home-furnishings retailer reported much lower than
anticipated December sales. "We're extremely disappointed that
December sales results came in well below our expectations,
especially considering our holiday selling season kicked off with a
record post-Thanksgiving weekend," said Chief Executive Alex W.
Smith. Shares dropped 10% to $20.96 premarket.
Urban Outfitters Inc. (URBN) said it posted record sales during
the holiday season, with sharply higher same-store sales at
Anthropologie and Free People locations. Shares edged up 1.9% to
$38.57 premarket.
Watch List:
American Eagle Outfitters Inc. (AEO) joined the list of
retailers tempering their outlooks post-holidays as the teen
apparel retailer cited lower traffic and sales through the
Christmas week.
Calix Inc. (CALX), a supplier of telecommunications equipment,
tempered fourth-quarter expectations due to lower so-called "budget
flush" spending than what the company normally experiences.
Community Health Systems Inc. (CYH) unveiled several executive
promotions and a restructuring of the hospital company's divisions
ahead of a pending acquisition of peer Health Management Associates
Inc. (HMA).
Masco Corp. (MAS) has named insider Keith Allman to the
building-products manufacturer's president and chief executive
roles, succeeding Timothy Wadhams, who is retiring after a 37-year
career at the company.
Medtronic Inc.'s (MDT) Symplicity technology, used for renal
denervation procedures to treat difficult cases of hypertension,
missed primary goals for efficacy in a U.S. clinical trial. The
medical-device maker said Symplicity met primary endpoints for
safety and as a result no specific action is currently indicated
for patients who have had the renal denervation procedure with the
Symplicity system.
New York Attorney General Eric Schneiderman said Wednesday his
office has filed a lawsuit against a U.S. unit of Swiss
pharmaceutical giant Novartis AG (NVS, NOVN.VX) regarding an
alleged kickback scheme related to its iron-reduction drug,
Exjade.
Ruby Tuesday Inc.'s (RT) fiscal second-quarter loss widened
sharply on weaker same-store sales and customer traffic. The
casual-dining chain also unveiled more details of its restructuring
plans, including the planned closures of 30 restaurants that will
mostly take place in the current quarter.
Supervalu Inc.'s (SVU) fiscal third-quarter earnings nearly
doubled on lower expenses and growth at its Save-A-Lot business.
But revenue declined and missed expectations.
T-Mobile US Inc. (TMUS) said it added more than 1.6 million
total customers in the fourth quarter, the third quarter in a row
that the carrier has generated more than 1 million customer
additions.
Texas Industries Inc.'s (TXI) fiscal second-quarter loss widened
as the construction-materials company reported higher product costs
and a jump in interest expenses, masking broad sales growth that
boosted the top line.
WD-40 Co.'s (WDFC) fiscal first-quarter profit rose 4.9% as the
company recorded an uptick in sales of its multi-purpose products,
including its flagship lubricant spray.
Write to John Kell at john.kell@wsj.com and Lauren Pollock at
lauren.pollock@wsj.com
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