U.S. Hot Stocks: Hot Stocks to Watch
Among the companies with shares expected to actively trade in Friday's session are Alcoa Inc. (AA), Sears Holdings Corp. (SHLD) and YRC Worldwide Inc. (YRCW).
Alcoa swung to a steep fourth-quarter loss as the aluminum maker recorded a $1.72 billion impairment charge tied to two acquisitions made over a decade ago. Adjusted profit Alcoa reported for the latest period wasn't as strong as analysts expected, though the top line exceeded expectations. Shares dropped 6.6% to $9.98 premarket.
AngioDynamics Inc. (ANGO) swung to a modest fiscal second-quarter loss but achieved break-even per-share results as the medical-device maker's revenue improved more than expected, pushing shares up 6.5% to $19.15 premarket.
Baker Hughes Inc. (BHI) warned a disruption to its business in Iraq will reduce its fourth-quarter profit by about $80 million. The oil-field services company, which resumed operations by the end of December, had warned in November that it suspended operations in Iraq following a protest incident at a facility belonging to one of its units. Shares edged down 2.2% to $50.66 premarket.
Fifth & Pacific Cos. (FNP) unveiled a plan to change its name to Kate Spade & Co., the second time the clothing maker has changed its moniker since 2012, with the latest move tied to its narrow focus on the designer brand. Shares dropped 8.2% to $29.25 premarket as the company also issued a fiscal-year sales outlook that missed Wall Street expectations.
Five Below Inc. (FIVE) cut its fiscal fourth-quarter outlook as the discount retailer blamed bad weather for its weaker-than-expected sales for the holiday season, sending shares down 7.8% to $40.20 premarket.
Francesca's Holdings Corp. (FRAN) raised the low end of its fourth-quarter outlook, after the retailer said it experienced a positive finish for the holiday season. "After a lackluster start to the holiday selling season beginning the week of Thanksgiving, we ended the season stronger," said Chief Executive Neill P. Davis. Shares surged 16% to $21.03 premarket.
Pacific Sunwear of California Inc. (PSUN) cut its fiscal fourth-quarter outlook as the teen-focused specialty retailer cited a "choppy" holiday season. PacSun said same-store sales for the holiday period were flat on a continuing-operations basis, and up 1% if online sales are included. Shares dropped 17% to $2.83 premarket.
Sears projected adjusted losses for the fiscal fourth quarter and full year that badly miss Wall Street's expectations, as the struggling department-store operator warned of continued same-stores sales weakness. Shares declined 11% to $37.80 premarket.
Hilltop Holdings Inc. (HTH) offered to buy the rest of SWS Group Inc. (SWS) that it doesn't already own, valuing the financial-services company at about $231 million. Hilltop, a regional banking and insurance company, offered $7 a share, a 16% premium over Thursday's close. SWS surged 19% to $7.20 premarket, topping the offer price.
YRC Worldwide failed to win a contract extension from the International Brotherhood of Teamsters, weakening the struggling trucking company's prospects of completing a financing deal. Shares plunged 22% to $12.30 premarket.
Watch List:
Chevron Corp. (CVX) said its fourth-quarter global oil and gas production is expected to decline from the year-ago quarter, while most commodity prices are on pace to be slightly lower. Chevron, the second-largest U.S. oil company in market value after Exxon Mobil Corp. (XOM), forecast fourth-quarter earnings to be comparable to the third quarter.
Gap Inc. (GPS) said it expects to report full-year earnings near the high end of its outlook as the apparel retailer posted a rise in sales for the holiday season, though December sales fell short of expectations.
Helen of Troy Corp.'s (HELE) fiscal third-quarter earnings edged down 0.5% as the personal-care and household-products maker recorded a larger income-tax expense, masking a rise in revenue.
Overstock.com (OSTK) said it would now accept bitcoin, a virtual currency that has exploded in popularity since its introduction four years ago, at the company's online shopping site.
PharMerica Corp. (PMC) projected strong revenue for 2014 and said it will continue to adjust its cost structure and the size of its workforce as part of an ongoing restructuring plan. The pharmacy-services provider has posted stronger-than-expected growth in recent quarters, allowing it to raise its estimates for 2013 in November, numbers it backed on Friday.
Cigarette maker Philip Morris International Inc. (PM) said it plans to invest up to 500 million euros into its first manufacturing facility in the European Union and an associated pilot plant in Italy to produce potentially "reduced-risk" tobacco products.
Progress Software Corp.'s (PRGS) fiscal fourth-quarter profit tumbled 58% as the business-software provider's higher sales and margins couldn't fully offset a gain recorded last year tied to discontinued operations.
Synnex Corp.'s (SNX) fiscal fourth-quarter earnings fell 4.9% as broad revenue growth was offset by expenses related to a pending acquisition.
Target Corp. (TGT) disclosed Friday that its recent data breach affected up to 70 million individuals, far more people than its previous reports showed. The company said guest information--including names, mailing addresses, phone numbers or email addresses--were stolen.
Tiffany & Co. (TIF) said its holiday sales rose 4% thanks to growth in all regions, while mall-based peer Zale Corp. (ZLC) also posted a slight uptick. "Tiffany enjoyed a good holiday season with overall sales results in line with our expectation, and we were pleased to see growth across our fine and statement, engagement and fashion jewelry categories," Chief Executive Michael J. Kowalski said as he backed the company's earnings forecast for the year.
WuXi PharmaTech Inc. (WX) said it expects its earnings for 2013 to slightly top its prior outlook. The Shanghai-based drug-research contractor has posted strong sales growth in recent quarters, led largely by its China laboratory services.
Write to Lauren Pollock at lauren.pollock@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Among the companies with shares expected to actively trade in Friday's session are Alcoa Inc. (AA), Sears Holdings Corp. (SHLD) and YRC Worldwide Inc. (YRCW).
Alcoa swung to a steep fourth-quarter loss as the aluminum maker recorded a $1.72 billion impairment charge tied to two acquisitions made over a decade ago. Adjusted profit Alcoa reported for the latest period wasn't as strong as analysts expected, though the top line exceeded expectations. Shares dropped 6.6% to $9.98 premarket.
AngioDynamics Inc. (ANGO) swung to a modest fiscal second-quarter loss but achieved break-even per-share results as the medical-device maker's revenue improved more than expected, pushing shares up 6.5% to $19.15 premarket.
Baker Hughes Inc. (BHI) warned a disruption to its business in Iraq will reduce its fourth-quarter profit by about $80 million. The oil-field services company, which resumed operations by the end of December, had warned in November that it suspended operations in Iraq following a protest incident at a facility belonging to one of its units. Shares edged down 2.2% to $50.66 premarket.
Fifth & Pacific Cos. (FNP) unveiled a plan to change its name to Kate Spade & Co., the second time the clothing maker has changed its moniker since 2012, with the latest move tied to its narrow focus on the designer brand. Shares dropped 8.2% to $29.25 premarket as the company also issued a fiscal-year sales outlook that missed Wall Street expectations.
Five Below Inc. (FIVE) cut its fiscal fourth-quarter outlook as the discount retailer blamed bad weather for its weaker-than-expected sales for the holiday season, sending shares down 7.8% to $40.20 premarket.
Francesca's Holdings Corp. (FRAN) raised the low end of its fourth-quarter outlook, after the retailer said it experienced a positive finish for the holiday season. "After a lackluster start to the holiday selling season beginning the week of Thanksgiving, we ended the season stronger," said Chief Executive Neill P. Davis. Shares surged 16% to $21.03 premarket.
Pacific Sunwear of California Inc. (PSUN) cut its fiscal fourth-quarter outlook as the teen-focused specialty retailer cited a "choppy" holiday season. PacSun said same-store sales for the holiday period were flat on a continuing-operations basis, and up 1% if online sales are included. Shares dropped 17% to $2.83 premarket.
Sears projected adjusted losses for the fiscal fourth quarter and full year that badly miss Wall Street's expectations, as the struggling department-store operator warned of continued same-stores sales weakness. Shares declined 11% to $37.80 premarket.
Hilltop Holdings Inc. (HTH) offered to buy the rest of SWS Group Inc. (SWS) that it doesn't already own, valuing the financial-services company at about $231 million. Hilltop, a regional banking and insurance company, offered $7 a share, a 16% premium over Thursday's close. SWS surged 19% to $7.20 premarket, topping the offer price.
YRC Worldwide failed to win a contract extension from the International Brotherhood of Teamsters, weakening the struggling trucking company's prospects of completing a financing deal. Shares plunged 22% to $12.30 premarket.
Watch List:
Chevron Corp. (CVX) said its fourth-quarter global oil and gas production is expected to decline from the year-ago quarter, while most commodity prices are on pace to be slightly lower. Chevron, the second-largest U.S. oil company in market value after Exxon Mobil Corp. (XOM), forecast fourth-quarter earnings to be comparable to the third quarter.
Gap Inc. (GPS) said it expects to report full-year earnings near the high end of its outlook as the apparel retailer posted a rise in sales for the holiday season, though December sales fell short of expectations.
Helen of Troy Corp.'s (HELE) fiscal third-quarter earnings edged down 0.5% as the personal-care and household-products maker recorded a larger income-tax expense, masking a rise in revenue.
Overstock.com (OSTK) said it would now accept bitcoin, a virtual currency that has exploded in popularity since its introduction four years ago, at the company's online shopping site.
PharMerica Corp. (PMC) projected strong revenue for 2014 and said it will continue to adjust its cost structure and the size of its workforce as part of an ongoing restructuring plan. The pharmacy-services provider has posted stronger-than-expected growth in recent quarters, allowing it to raise its estimates for 2013 in November, numbers it backed on Friday.
Cigarette maker Philip Morris International Inc. (PM) said it plans to invest up to 500 million euros into its first manufacturing facility in the European Union and an associated pilot plant in Italy to produce potentially "reduced-risk" tobacco products.
Progress Software Corp.'s (PRGS) fiscal fourth-quarter profit tumbled 58% as the business-software provider's higher sales and margins couldn't fully offset a gain recorded last year tied to discontinued operations.
Synnex Corp.'s (SNX) fiscal fourth-quarter earnings fell 4.9% as broad revenue growth was offset by expenses related to a pending acquisition.
Target Corp. (TGT) disclosed Friday that its recent data breach affected up to 70 million individuals, far more people than its previous reports showed. The company said guest information--including names, mailing addresses, phone numbers or email addresses--were stolen.
Tiffany & Co. (TIF) said its holiday sales rose 4% thanks to growth in all regions, while mall-based peer Zale Corp. (ZLC) also posted a slight uptick. "Tiffany enjoyed a good holiday season with overall sales results in line with our expectation, and we were pleased to see growth across our fine and statement, engagement and fashion jewelry categories," Chief Executive Michael J. Kowalski said as he backed the company's earnings forecast for the year.
WuXi PharmaTech Inc. (WX) said it expects its earnings for 2013 to slightly top its prior outlook. The Shanghai-based drug-research contractor has posted strong sales growth in recent quarters, led largely by its China laboratory services.
Write to Lauren Pollock at lauren.pollock@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
