U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
Among the companies with shares expected to actively trade in Friday's session are Pandora Media Inc. (P), Comtech Telecommunications Corp. (CMTL) and Maxwell Technologies Inc. (MXWL).
Pandora bolstered investor confidence Thursday by showing its costs have mounted at a slower pace as revenue continues to climb briskly--and quickly followed by announcing the Internet radio firm's CEO will be stepping aside. Results topped Wall Street expectations and Pandora's reported content-acquisition costs--a key indicator for investors and analysts--rose at a slower rate than in prior quarters. Shares jumped 21% to $14.16 after hours.
Comtech's fiscal second-quarter earnings fell 59% as the maker of advanced communication systems said U.S. budget uncertainty hurt sales broadly. The company also lowered its full-year outlook. Shares slumped 12% to $24 after hours.
Maxwell said it will restate its financial results for 2011 and most of 2012 due to errors related to the timing of recognition of revenue from sales to certain distributors. Shares of the company, which develops power-based systems and components, sank 13% to $7.97 after hours.
AngioDynamics Inc. (ANGO) forecast third-quarter earnings below analyst expectations and cut its sales guidance, as the medical-device company cited weaker-than-expected procedure volumes and capital equipment sales. Shares slipped 4.5% to $12.02 after hours.
Apollo Residential Mortgage Inc. (AMTG) is launching an offering of 6.8 million shares, with a plan to use the proceeds to acquire residential mortgage-backed securities and other assets. The real-estate investment trust recently had around 24.2 million shares outstanding. Shares fell 2.2% to $22.19 in after-hours trading.
Arlington Asset Investment Corp. (AI) is offering 3 million Class A shares, expecting to use the proceeds to acquire residential mortgage-backed securities and other assets. The real-estate investment trust had 12.6 million Class A shares outstanding as of Jan. 31. Shares were off 3.1% at $25.59 after hours.
AVG Technologies N.V. (AVG) said J.R. Smith will step down as chief executive after a six-year tenure at the helm of the Internet and mobile-security provider, which is conducting a search for his successor. Shares slipped 6.4% to $14.69 after hours.
Ambarella Inc.'s (AMBA) fiscal fourth-quarter profit more than doubled as the maker of image-processing chips noted growth in the network security camera market. Shares rose 9% to $13.05 in after-hours trading Thursday, as results beat Street expectations.
Activist money manager Carl Icahn boosted his stake in nutritional-supplement maker Herbalife Ltd. (HLF), another move in a busy day for the billionaire investor that saw his involvement in several high-profile corporate sagas. In a filing late Thursday with the U.S. Securities and Exchange Commission, Mr. Icahn disclosed that he increased his Herbalife stake to 15.55%, up from about 13%. Shares were up 1.8% to $41.75 after hours.
Hercules Technology Growth Capital Inc. (HTGC) is offering 7 million shares. The specialty finance firm had around 52.9 million shares outstanding as of Feb. 25. Shares fell 2.7% to $12.18 after hours.
Medifast Inc.'s (MED) fourth-quarter income jumped 59% as the weight-loss company posted an increase in direct sales. But shares fell 10% after hours to $21.95 as the company's current-quarter view fell sort of Street expectations.
Shares of Morgan Stanley (MS), Goldman Sachs Group Inc. (GS) and J.P. Morgan Chase & Co. (JPM) fell in after-hours trading Thursday after the three firms came in near the bottom of key capital ratios in the latest round of the Federal Reserve's annual "stress tests." Morgan Stanley shares slipped 1.6% to $22.86, while Goldman Sachs shares fell 1% to $155.04 and J.P. Morgan shares were down 1% to $50.15 after hours. The three firms, scored below the likes of Bank of New York Mellon Corp. (BK) and Citigroup Inc. (C), whose stocks climbed 0.7% and 1.5% in after-hours trading. In a separate release, Citi, whose request to buy back shares was rejected by the Fed last year, said it has requested to repurchase $1.2 billion in stock for the year.
Quiksilver Inc.'s (ZQK) fiscal first-quarter loss widened as the sports outfitter's revenue was dragged down by weakness in the Americas, though margins edged higher. Shares dropped 9.5% after hours to $5.69 as results missed expectations.
Sequenom Inc.'s (SQNM) fourth-quarter loss widened as the life sciences company's margins weakened and expenses increased, masking revenue growth. Shares slipped 3.1% to $4.35 after hours as the loss was wider than analysts expected.
Continental Grain Co., one of the biggest shareholders in Smithfield Foods Inc. (SFD), sent a letter to the pork company's board Thursday urging it to consider strategic changes including breaking up the company. Smithfield shares were up 2.2% to $25.23 after hours.
Workday Inc.'s (WDAY) fiscal fourth-quarter loss widened as the enterprise-software company recorded an increase in expenses, though revenue continued to strengthen. Shares slipped 2.6% to $60 after hours as the company offered current-quarter revenue guidance mostly below analyst expectations.
Watchlist:
Cable operator Charter Communications Inc. (CHTR) said that funds affiliated with Apollo Capital Management L.P. plan to sell 6.2 million of their roughly 24 million shares, and funds affiliated with Oaktree Opportunities Investments L.P. have agreed to sell 3.1 million shares of around 12.1 million shares. Charter recently had around 101.2 million shares outstanding.
Cooper Cos.'s (COO) fiscal first-quarter profit rose 37% as the company's contact-lens business continued to expand, though margins shrank.
Del Frisco's Restaurant Group Inc. (DFRG) said a secondary offering of about 4.8 million shares priced at a 4.6% discount to Thursday's close. The shares, which are being sold by the steakhouse operator's largest shareholder Lone Star Funds, priced at $17 a piece.
Finisar Corp. (FNSR) swung to a fiscal third-quarter loss as revenue declined, and as the telecommunication-equipment provider also posted higher expenses and income-tax provisions.
H&R Block Inc.'s (HRB) fiscal third-quarter loss widened as a delay to the start of the U.S. tax season affected the tax-services provider's top line.
Moody's Investors Service placed Medtronic Inc.'s (MDT) credit ratings under review for a possible downgrade, citing risks associated with constraints on the medical-devices company's core cardiac rhythm management and spine businesses.
NXP Semiconductors N.V. (NXPI) said some of its principal shareholders, including affiliates of AlpInvest Partners B.V., Apax Partners LLP, Bain Capital Partners LLC and Silver Lake Technology Management L.L.C., have launched an offering of 25 million shares. NXP, which had around 251.8 million shares outstanding as of Feb. 28, won't receive any proceeds from the sale.
Moody's Investors Service downgraded the ratings of Orchard Supply Hardware Stores Corp. (OSH) by one notch, citing very weak credit metrics and the home-improvement retailer's lack of meaningful progress in addressing maturing debt.
Pharmacyclics Inc. (PCYC) has launched an offering of 2.2 million shares, representing around 3.1% of the company's outstanding shares. The biopharmaceutical company intends to use the proceeds for the commercialization of its cancer treatment Ibrutinib, to advance its clinical pipeline and for other general purposes.
Offshore-drilling company Rowan Cos. (RDC) has promoted Thomas P. Burke to the role of president, with the expectation that he will succeed W. Matt Ralls as chief executive in mid-2014.
Texas Instruments Inc. (TXN) raised the bottom end of its first-quarter earnings and revenue guidance.
TherapeuticsMD Inc. (TXMD) plans to offer $50 million of its shares, subject to market conditions. The company, which makes prenatal vitamins and cosmetics, recently had a market capitalization of roughly $357 million.
Thor Industries Inc.'s (THO) fiscal second-quarter income rose 45% on strong recreational-vehicle sales.
United Continental Holdings Inc.'s (UAL) consolidated traffic slipped 3.4% in February as the carrier's capacity also decreased.
Ventas Inc. (VTR) said it may sell as much as $750 million of its shares as it raises funds for general purposes including acquisitions and paying down debt. The health-care-focused real-estate investment trust recently had a market capitalization of around $20.7 billion.
WuXi PharmaTech Inc.'s (WX) fourth-quarter profit rose 1.4% as the drug-research contractor posted stronger sales.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Among the companies with shares expected to actively trade in Friday's session are Pandora Media Inc. (P), Comtech Telecommunications Corp. (CMTL) and Maxwell Technologies Inc. (MXWL).
Pandora bolstered investor confidence Thursday by showing its costs have mounted at a slower pace as revenue continues to climb briskly--and quickly followed by announcing the Internet radio firm's CEO will be stepping aside. Results topped Wall Street expectations and Pandora's reported content-acquisition costs--a key indicator for investors and analysts--rose at a slower rate than in prior quarters. Shares jumped 21% to $14.16 after hours.
Comtech's fiscal second-quarter earnings fell 59% as the maker of advanced communication systems said U.S. budget uncertainty hurt sales broadly. The company also lowered its full-year outlook. Shares slumped 12% to $24 after hours.
Maxwell said it will restate its financial results for 2011 and most of 2012 due to errors related to the timing of recognition of revenue from sales to certain distributors. Shares of the company, which develops power-based systems and components, sank 13% to $7.97 after hours.
AngioDynamics Inc. (ANGO) forecast third-quarter earnings below analyst expectations and cut its sales guidance, as the medical-device company cited weaker-than-expected procedure volumes and capital equipment sales. Shares slipped 4.5% to $12.02 after hours.
Apollo Residential Mortgage Inc. (AMTG) is launching an offering of 6.8 million shares, with a plan to use the proceeds to acquire residential mortgage-backed securities and other assets. The real-estate investment trust recently had around 24.2 million shares outstanding. Shares fell 2.2% to $22.19 in after-hours trading.
Arlington Asset Investment Corp. (AI) is offering 3 million Class A shares, expecting to use the proceeds to acquire residential mortgage-backed securities and other assets. The real-estate investment trust had 12.6 million Class A shares outstanding as of Jan. 31. Shares were off 3.1% at $25.59 after hours.
AVG Technologies N.V. (AVG) said J.R. Smith will step down as chief executive after a six-year tenure at the helm of the Internet and mobile-security provider, which is conducting a search for his successor. Shares slipped 6.4% to $14.69 after hours.
Ambarella Inc.'s (AMBA) fiscal fourth-quarter profit more than doubled as the maker of image-processing chips noted growth in the network security camera market. Shares rose 9% to $13.05 in after-hours trading Thursday, as results beat Street expectations.
Activist money manager Carl Icahn boosted his stake in nutritional-supplement maker Herbalife Ltd. (HLF), another move in a busy day for the billionaire investor that saw his involvement in several high-profile corporate sagas. In a filing late Thursday with the U.S. Securities and Exchange Commission, Mr. Icahn disclosed that he increased his Herbalife stake to 15.55%, up from about 13%. Shares were up 1.8% to $41.75 after hours.
Hercules Technology Growth Capital Inc. (HTGC) is offering 7 million shares. The specialty finance firm had around 52.9 million shares outstanding as of Feb. 25. Shares fell 2.7% to $12.18 after hours.
Medifast Inc.'s (MED) fourth-quarter income jumped 59% as the weight-loss company posted an increase in direct sales. But shares fell 10% after hours to $21.95 as the company's current-quarter view fell sort of Street expectations.
Shares of Morgan Stanley (MS), Goldman Sachs Group Inc. (GS) and J.P. Morgan Chase & Co. (JPM) fell in after-hours trading Thursday after the three firms came in near the bottom of key capital ratios in the latest round of the Federal Reserve's annual "stress tests." Morgan Stanley shares slipped 1.6% to $22.86, while Goldman Sachs shares fell 1% to $155.04 and J.P. Morgan shares were down 1% to $50.15 after hours. The three firms, scored below the likes of Bank of New York Mellon Corp. (BK) and Citigroup Inc. (C), whose stocks climbed 0.7% and 1.5% in after-hours trading. In a separate release, Citi, whose request to buy back shares was rejected by the Fed last year, said it has requested to repurchase $1.2 billion in stock for the year.
Quiksilver Inc.'s (ZQK) fiscal first-quarter loss widened as the sports outfitter's revenue was dragged down by weakness in the Americas, though margins edged higher. Shares dropped 9.5% after hours to $5.69 as results missed expectations.
Sequenom Inc.'s (SQNM) fourth-quarter loss widened as the life sciences company's margins weakened and expenses increased, masking revenue growth. Shares slipped 3.1% to $4.35 after hours as the loss was wider than analysts expected.
Continental Grain Co., one of the biggest shareholders in Smithfield Foods Inc. (SFD), sent a letter to the pork company's board Thursday urging it to consider strategic changes including breaking up the company. Smithfield shares were up 2.2% to $25.23 after hours.
Workday Inc.'s (WDAY) fiscal fourth-quarter loss widened as the enterprise-software company recorded an increase in expenses, though revenue continued to strengthen. Shares slipped 2.6% to $60 after hours as the company offered current-quarter revenue guidance mostly below analyst expectations.
Watchlist:
Cable operator Charter Communications Inc. (CHTR) said that funds affiliated with Apollo Capital Management L.P. plan to sell 6.2 million of their roughly 24 million shares, and funds affiliated with Oaktree Opportunities Investments L.P. have agreed to sell 3.1 million shares of around 12.1 million shares. Charter recently had around 101.2 million shares outstanding.
Cooper Cos.'s (COO) fiscal first-quarter profit rose 37% as the company's contact-lens business continued to expand, though margins shrank.
Del Frisco's Restaurant Group Inc. (DFRG) said a secondary offering of about 4.8 million shares priced at a 4.6% discount to Thursday's close. The shares, which are being sold by the steakhouse operator's largest shareholder Lone Star Funds, priced at $17 a piece.
Finisar Corp. (FNSR) swung to a fiscal third-quarter loss as revenue declined, and as the telecommunication-equipment provider also posted higher expenses and income-tax provisions.
H&R Block Inc.'s (HRB) fiscal third-quarter loss widened as a delay to the start of the U.S. tax season affected the tax-services provider's top line.
Moody's Investors Service placed Medtronic Inc.'s (MDT) credit ratings under review for a possible downgrade, citing risks associated with constraints on the medical-devices company's core cardiac rhythm management and spine businesses.
NXP Semiconductors N.V. (NXPI) said some of its principal shareholders, including affiliates of AlpInvest Partners B.V., Apax Partners LLP, Bain Capital Partners LLC and Silver Lake Technology Management L.L.C., have launched an offering of 25 million shares. NXP, which had around 251.8 million shares outstanding as of Feb. 28, won't receive any proceeds from the sale.
Moody's Investors Service downgraded the ratings of Orchard Supply Hardware Stores Corp. (OSH) by one notch, citing very weak credit metrics and the home-improvement retailer's lack of meaningful progress in addressing maturing debt.
Pharmacyclics Inc. (PCYC) has launched an offering of 2.2 million shares, representing around 3.1% of the company's outstanding shares. The biopharmaceutical company intends to use the proceeds for the commercialization of its cancer treatment Ibrutinib, to advance its clinical pipeline and for other general purposes.
Offshore-drilling company Rowan Cos. (RDC) has promoted Thomas P. Burke to the role of president, with the expectation that he will succeed W. Matt Ralls as chief executive in mid-2014.
Texas Instruments Inc. (TXN) raised the bottom end of its first-quarter earnings and revenue guidance.
TherapeuticsMD Inc. (TXMD) plans to offer $50 million of its shares, subject to market conditions. The company, which makes prenatal vitamins and cosmetics, recently had a market capitalization of roughly $357 million.
Thor Industries Inc.'s (THO) fiscal second-quarter income rose 45% on strong recreational-vehicle sales.
United Continental Holdings Inc.'s (UAL) consolidated traffic slipped 3.4% in February as the carrier's capacity also decreased.
Ventas Inc. (VTR) said it may sell as much as $750 million of its shares as it raises funds for general purposes including acquisitions and paying down debt. The health-care-focused real-estate investment trust recently had a market capitalization of around $20.7 billion.
WuXi PharmaTech Inc.'s (WX) fourth-quarter profit rose 1.4% as the drug-research contractor posted stronger sales.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
