Among the companies with shares expected to actively trade in
Tuesday's session are Toll Brothers Inc. (TOL) and Navidea
Biopharmaceuticals Inc. (NAVB).
Toll Brothers' fiscal fourth-quarter income fell 77% as the
homebuilder posted fewer tax-related adjustments, though home
deliveries and revenue improved. The bottom line still beat
expectations, helping send shares up 2.6% to $34.45 premarket.
Navidea Biopharmaceuticals said the U.S. Food and Drug
Administration granted fast-track status to Lymphoseek for sentinel
lymph node detection in patients with head and neck cancer,
providing a boost for the biopharmaceutical firm. Shares jumped 15%
premarket to $2.10.
Micron Technology Inc. (MU) and Rambus Inc. (RMBS) said they
have ended a series of court battles that stretched for 13 years,
with Micron agreeing to pay up to $280 million to Rambus over seven
years. The deal announced late Monday gives Micron, one of the
biggest makers of memory chips, rights to use Rambus patents in
certain products. Rambus shares surged 9.7% to $9.36 premarket,
while Micron was inactive.
Chip maker Broadcom Corp. (BRCM) raised its fourth-quarter
revenue outlook on better-than-expected results in all segments,
particularly in infrastructure and networking. Shares edged up 1.3%
to $28.25 premarket.
Pep Boys-Manny Moe & Jack (PBY) swung to a fiscal
third-quarter profit as the auto-care company reported fewer
charges, though overall sales inched lower due to weak merchandise
sales. Shares slumped 12% to $11.75 in premarket trading as results
missed Wall Street's expectations.
Comtech Telecommunications Corp.'s (CMTL) fiscal first-quarter
earnings fell 29% on lower revenue but the maker of advanced
communications systems unveiled plans for additional stock
repurchases and a dividend increase. Shares were up 7.7% at $33.69
in premarket trading as the results beat expectations and the
company raised its fiscal-year guidance.
Analogic Corp. (ALOG) swung to a fiscal first-quarter loss as
the electronics-component maker reported a steep decline in
medical-imaging sales and higher expenses. Shares slid 9.9% to
$83.50 in premarket trading.
Activist investor Carl C. Icahn's firm said Monday it will sell
two million depositary units. Shares of Icahn Enterprises LP (IEP)
were down 10% at $133.68 premarket.
Two dry-bulk shipping companies--Eagle Bulk Shipping Inc. (EGLE)
and Genco Shipping & Trading Ltd. (GNK)--have enlisted
restructuring advisers after key creditors sold large blocks of
debt to distressed investors amid balance sheet concerns, The Wall
Street Journal reported. Eagle Bulk shares dropped 14% to $3.09
premarket, while Genco declined 21% to $1.95.
Watch List:
ABM Industries Inc.'s (ABM) fiscal fourth-quarter profit fell
13% on higher expenses that helped mask growth in revenue. Results
exceeded Wall Street expectations.
AutoZone Inc.'s (AZO) fiscal first-quarter earnings rose 7.2% on
continued sales growth and slightly stronger margins. Results were
generally in line with expectations.
Buckle Inc. (BKE) unveiled a special dividend of $1.20 a share
and raised its quarterly dividend. The special dividend, though,
was considerably lower than from a year ago, when the company gave
$4.50 a share.
Burlington Stores Inc.'s (BURL) fiscal third-quarter loss
widened, as the clothing retailer reported a handful of charges
related to debt and its recent initial public offering, though
revenue grew. Results just edged past estimates.
Casey's General Stores Inc. (CASY) fiscal second-quarter
earnings rose 26% as the convenience-store operator reported broad
revenue growth and benefited from improved gasoline sales and
margins.
Dominion Resources Inc. (D) closed on deals with two natural-gas
producers to lease about 100,000 acres of Marcellus share rights
under several of its natural-gas storage fields in West Virginia.
Dominion expects the move to result in payments of about $200
million over nine years, as well as royalties.
Duke Energy Corp. (DUK) said it has submitted to U.S. regulators
plans to decommission its Crystal River nuclear plant in Florida, a
plan that it expects to commence next year at estimated cost of
$1.18 billion. The premature retirement of the plant--which
operated from 1977 to 2009--was the result of structural problems
and was announced last February.
Fidelity National Financial Inc. (FNF) said it is pursuing
strategic options for its portfolio-company investments, including
a possible spinoff or sales. In addition to being a title insurer
and mortgage services company, Fidelity has major investments in
the restaurant industry and a 51% stake in electrical parts
manufacturer Remy International Inc. (REMY).
Fifth & Pacific Cos. (FNP) agreed to sell its Lucky Brand
denim business to an affiliate of Leonard Green & Partners L.P.
for $225 million, inking a second deal with the private-equity
firm.
Honeywell International Inc. (HON) said it will spend about $300
million to build a new, environmentally friendly automobile
refrigerant manufacturing plant in response to increasing demand
overseas. The industrial conglomerate is working with key suppliers
to increase production capacity for HFO-1234yf, a new refrigerant
for automobiles with a global-warming potential of less than 1.
John Wiley & Sons Inc.'s (JWA, JWB) fiscal second-quarter
profit slid 16% as the publishing company's results were dinged by
restructuring costs, though revenue improved thanks to higher
digital book sales.
Lumber Liquidators Holdings Inc. (LL), a hardwood flooring
retailer that has faced recent questions about its sourcing
practices, issued rosier 2013 targets a day before the company was
due to present at a conference in New York City.
Merck & Co. (MRK) said it received approval to continue
recruiting patients for a trial of its Alzheimer's treatment
currently in development.
MRC Global Inc. (MRC) has inked two separate international
acquisitions, including an agreement to buy Norway-based Stream AS,
a pipe and valve distributor for the offshore oil and gas industry,
for about $260 million.
Northrop Grumman Corp. (NOC) has paid $11.4 million to the U.S.
to settle a claim that the aerospace and defense company made
improper charges to its federal contracts, the Justice Department
said Monday.
Outerwall Inc. (OUTR) unveiled a leadership change at its Redbox
video-rental kiosk business and is reducing its workforce as the
company continues to restructure its business. Also, Outerwall said
it will discontinue three concepts: Rubi, a coffee kiosk; Crisp
Market, a kiosk distributing prepared foods; and Star Studio, an
interactive photo booth.
PVH Corp.'s (PVH) fiscal third-quarter profit grew 17% as sales
were again boosted by the acquisition of Warnaco Group Inc. earlier
this year, though the clothing company warned of challenges during
the holiday season.
Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) provided two
outlooks for next year, one that assumes that its top selling drug,
multiple-sclerosis treatment Copaxone, will face competition from
the introduction of at least two generic rivals in the U.S. and
another that assumes no generic competition.
Vail Resorts Inc.'s (MTN) loss widened in its fiscal first
quarter on higher expenses pegged to acquisitions.
Waters Corp.'s (WAT) chief financial officer, John Ornell, will
resign from the role effective Feb. 1, and Eugene G. Cassis will
take over the position on an interim basis, the company said
Monday.
Write to Lauren Pollock at lauren.pollock@wsj.com
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