Among the companies with shares expected to actively trade in
Friday's session are Informatica Corp. (INFA), Xyratex Ltd. (XRTX),
Seagate Technology Inc. (STX) and Dynegy Inc. (DYN)
Software company Informatica said its second-quarter earnings
and revenue will miss its earlier expectations, saying it didn't
adapt as rapidly as it should have to the changing macroeconomic
environment, especially in Europe. Shares slumped 28% to $31.43 in
premarket trading.
Xyratex swung to a fiscal second-quarter profit as the
storage-systems provider continued to improve its margins, even as
revenue in the core enterprise data-storage segment declined.
Shares jumped 6.6% to $12.49 premarket.
Hard-disk driver maker Seagate Technology cut its revenue and
gross margin expectations for its recently ended fiscal fourth
quarter, hurt by quality issues at a supplier and by a
faster-than-anticipated recovery in the hard-disk drive market.
Seagate shares fell 2.9% to $24.35 premarket while rival Western
Digital Corp's (WDC) shares dropped 3.5% to $29.60.
LeapFrog Enterprises Inc.'s (LF) chief financial officer, Mark
A. Etnyre, has resigned to spend more time with his family, the toy
maker said Thursday. Shares slipped 6% to $10.70 premarket.
Dynegy Inc. (DYN) voluntarily filed for Chapter 11 bankruptcy
protection to facilitate the settlement agreement between its
Dynegy Holdings LLC unit and its creditors. The settlement reshifts
Dynegy Holding's coal assets, which were transferred to Dynegy Inc.
shareholders, back to creditors. While a dissident group of junior
creditors agreed to drop their opposition to the power provider's
restructuring proposal. The settlement, which was approved by a
U.S. bankruptcy court earlier this month, also provides for Dynegy
and Dynegy Holdings to merge. It is expected that Dynegy Inc. will
be the surviving company. Shares fell 3.4% to 57 cents in light
premarket trading before being halted.
Alexza Pharmaceuticals Inc. (ALXA) said Thursday the U.S. Food
and Drug Administration has accepted its resubmitted new drug
application for Adasuve, a schizophrenic and bipolar disorder
treatment, and has set a goal date of Dec. 21. The drug has been
used for years, but combined with Alexza's inhaler delivery system,
it is proposed to provide rapid action and simple administration.
Shares were trading 15% lower at $4.03 premarket.
Navistar International Corp. (NAV) confirmed its plans to adopt
the same process for treating diesel-engine emissions used by its
rivals in an attempt to reverse falling truck sales and regulatory
uncertainty that have caused its stock price to collapse and made
the company the subject of takeover speculation. The system, which
the company is calling In-Cylinder Technology Plus, is expected to
be available beginning early next year. Shares jumped 18% to $8.15
premarket.
ShangPharma Corp.'s (SHP) board is reviewing Chairman and Chief
Executive Michael Xin Hui's offer to take the company private in a
deal that values the China-based pharmaceutical company at $158
million to $177 million. The company said Mr. Hui and TPG Star
Charisma Ltd. have offered to pay between $8.50 and $9.50 per
American depositary share in cash. Shares were trading 18% higher
at $8.15 in premarket trading.
Pengrowth Energy Corp. (PGH, PGF.T) said it will cut its monthly
dividend 43%, partly due to ongoing commodity-price weakness. The
Calgary-based oil and gas producer, which earlier this year
acquired rival NAL Energy Corp., said it will pay a monthly
dividend of 4 Canadian cents as of Aug. 15, down from 7 Canadian
cents currently. Shares dropped 6.8% to $6.05 premarket.
Watchlist:
Bazaarvoice Inc. (BV) revised its earnings and revenue outlook
for its fiscal first quarter and the full year to reflect the
marketing-software company's recently completed acquisition of
rival PowerReviews Inc.
Bioanalytical Systems Inc. (BASI) named Chief Financial Officer
Jacqueline M. Lemke interim president and chief executive, as
Anthony S. Chilton resigned to pursue other opportunities. Ms.
Lemke joined the drug developer three months ago, and Chairman John
B. Landis said she has "significantly reduced the company's cost
structure, refocused our marketing program, and instituted
aggressive performance goals for all operating departments."
Broadcom Corp. (BRCM) and Emulex Corp. (ELX) reached a partial
settlement over their patent litigation, with Emulex agreeing to
pay Broadcom $58 million in cash for certain networking technology
licenses.
Christopher & Banks Corp. (CBK) rejected an unsolicited
proposal from Aria Partners to acquire all outstanding shares of
the women's apparel company, saying the $64 million bid doesn't
reflect its full, long-term value. The women's retailer also
adopted a shareholder rights plan with a 15% trigger to thwart
potential takeovers by giving other shareholders the right to buy
more shares. The plan expires in July 2014.
Standard & Poor's Ratings Services lowered its outlook on
Walter Energy Inc.'s (WLT, WLT.T) junk-level credit ratings to
negative from stable on expectations that the coal miner will post
weaker-than-expected profits.
Vornado Realty Trust (VNO) confirmed it would acquire a retail
condominium at 666 Fifth Ave. in New York City for approximately
$707 million, expanding its portfolio of elite Manhattan street
retail.
Write to Melodie Warner at melodie.warner@dowjones.com