Date : 01/10/2012 @ 9:15AM
Source : Dow Jones News
Stock : Hhgregg, Inc. (PN) (HGGGQ)
Quote : 0.005  -0.0006 (-10.71%) @ 4:00PM


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Among the companies whose shares are expected to actively trade in Tuesday's session are Tiffany & Co. (TIF), Alcoa Inc. (AA) and Focus Media Holding Ltd. (FMCN).

Tiffany cut its full-year earnings forecast following a holiday season dampened by conservative holiday spending in the U.S. and Europe, adding to worries that economic uncertainties in the regions have dashed demand from luxury shoppers. Shares were off 7.5% to $61.90 in premarket trade as the cut reverses a boosted forecast offered by the luxury retailer less than two months ago.

Alcoa swung to a fourth-quarter loss as the aluminum producer's prices slumped and costs jumped. In the latest period, Alcoa's average realized price for aluminum fell 5.5% from a year earlier and 12% sequentially. Its margin of goods' costs to total sales slipped seven percentage points to 12.7%. The pressure outweighed a 5.1% increase in shipments of aluminum products. Shares were up 2.5% to $9.66 premarket.

Focus Media said it will begin paying its shareholders a quarterly dividend, a plan that the besieged Chinese digital-advertising company said reflects confidence in its business. American depositary shares leapt 6.9% to $20 in premarket trade as investors cheered a new dividend policy that aims to distribute shareholders payments equal to roughly 25% of the company's annual adjusted profit in the preceding fiscal year.

Nexen Inc. (NXY, NXY.T) said President and Chief Executive Marvin Romanow has left the company, prompting the Canadian oil-and-gas producer to name its chief financial officer as a temporary replacement. Shares climbed 6.3% to $17.75 in premarket trading.

Juniper Networks Inc. (JNPR) lowered its guidance for the fourth quarter because of weaker-than-expected router demand from service providers. Shares in the maker of routers and switches for communications networks were down 1.2% at $21.30 premarket.

Yoga-wear maker Lululemon Athletica Inc. (LULU) said Tuesday it has bumped up guidance for the current fourth quarter after revenue for the period got a boost from an increase in inventory. Shares were up 11% to $59.48 premarket.

Cirrus Logic Inc. (CRUS) projected better-than-expected revenue for its fiscal third quarter as the company also forecast current-quarter revenue sharply above Wall Street expectations. Shares were up 9.7% at $18.61 in premarket trading.

Emulex Corp. (ELX) raised its fiscal second-quarter guidance as the company said it overcame mid-quarter supply constraints related to flooding in Thailand, and returned to full capacity. The networking and storage company's shares were up 10% at $8.13 in premarket trading.

French pharmaceutical company Sanofi SA (SNY, SAN.FR) and venture-capital companies Third Rock Ventures and Greylock Partners will together invest up to $125 million in biotech start-up Warp Drive Bio over the next five years. Shares were up 1.3% to $36.24 in light premarket trading.

Health Management Associates Inc. (HMA) raised its fourth-quarter outlook, citing cost controls and effective hospital partnerships that boosted its bottom line. Shares were up 0.7% to $7.01 premarket.

WD-40 Co.'s (WDFC) fiscal first-quarter earnings dropped 25% as high input costs and an unfavorable mix of products continued to weigh on the maintenance and cleaning-products company's margins. Shares were down 6.8% to $38.30 premarket.

Jones Group Inc. (JNY) cut its fiscal 2011 revenue guidance and expects fiscal first-quarter revenue to fall short of analysts' estimate due to its need to increase promotions. The owner of brands such as Nine West, Jones New York and RachelRoy also cut its full-year revenue projection. Shares were down 4.3% to $8.70 in premarket trading.

Standard Microsystems Corp 's (SMSC) fiscal third-quarter loss narrowed amid fewer charges. The result was worse than expected and the company gave a weak view for the current quarter. Shares were down 5.3% to $23.65 premarket.

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Consol Energy Inc. (CNX) approved a $1.7 billion capital budget for this year, raising the coal producer's budget 21% from last year and putting more money into increasing coal and gas production.

DSW Inc. (DSW) raised its full-year guidance for the fourth time and plans to accelerate its new-store-opening plans due to the strength of its holiday sales. The seller of branded footwear and accessories also plans to open 35 to 40 new stores in 2012, which is ahead of its long-term goal of 15 to 20 new stores a year.

Francesca's Holdings Corp. (FRAN) raised its fourth-quarter guidance, saying the women's apparel and accessories retailer saw strong holiday sales and improved margins.

Genesco Inc. (GCO) again raised its guidance for the year by a dime a share, saying same-store sales increased by a stronger-than-expected 13% so far in the quarter ending this month.

GSI Technology Inc. (GSIT) estimated its fiscal third-quarter revenue will exceed its forecast and said it sees sales to its largest customer, Cisco Systems Inc. (CSCO), increasing from the preceding quarter.

Hhgregg Inc. (HGG) cut its full-year earnings estimate, citing lower-than-expected margins in the video category and increased spending on advertising to gain market share and launch its mobile category.

Nike Inc. (NKE) said it would build a new headquarters in China to support its long-term growth strategies there.

OCZ Technology Group's (OCZ) fiscal third-quarter loss narrowed sharply as swelling demand for the company's solid-state data storage nearly doubled its top line. The company also lifted its full-year revenue forecast for the fourth time.

RTI International Metals Inc. (RTI) agreed to acquire Remmele Engineering Inc. for $182.5 million, allowing the titanium products supplier to build up its offerings to the aerospace and defense markets and expand into the medical device sector.

-Edited by Maya Pope-Chappell and Ian Thomson; write to and

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