Date : 01/11/2012 @ 9:09AM
Source : Dow Jones News
Stock : Crocs, Inc. (MM) (CROX)
Quote : 13.96  0.0 (0.00%) @ 7:00AM


Urban Outfitters, Inc. (NASDAQ:URBN)
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Among the companies whose shares are expected to actively trade in Wednesday's session are Urban Outfitters Inc. (URBN), Marathon Petroleum Corp. (MPC) and Commercial Metals Co. (CMC).

Urban Outfitters disclosed its chief executive, Glen T. Senk, had resigned on Monday to pursue another opportunity and said co-founder and Chairman Richard A. Hayne would take on the CEO post, effective immediately. Shares plunged 14% to $25.15 in recent premarket trading. The apparel retailer said Senk will remain with the company for a period of time to assist with the transition.

Marathon said it expects to swing to a small fourth-quarter loss as higher crude oil prices weighed on bottom-line results. Shares fell 4.2% to $30.50 premarket.

Carl Icahn dropped his attempted hostile takeover of Commercial Metals as the billionaire activist investor didn't receive tenders for his self-imposed threshold of 40.1% of the scrap-metal processor's stock. Shares were down 6.8% to $13.75 premarket.

Lennar Corp.'s (LEN) fiscal fourth-quarter earnings fell 5.5%, reflecting a weak real-estate market, though the homebuilder's revenue grew and its margins improved. Shares were down 0.5% to $20.66 premarket.

Crocs Inc. (CROX) said its fourth-quarter revenue will be at the high end of its expectations and said it expects its full-year revenue to exceed $1 billion for the first time in the footwear company's history. Shares jumped 5.4% to $16.81 in premarket trading.

Synnex Corp. (SNX) fiscal fourth-quarter earnings rose a better-than-expected 34% as the information-technology distributor continued to post sales growth and margins strengthened. Shares were up 4.4% at $33.50 in recent premarket trading as the company also gave a mostly upbeat view for the current quarter.

Bank of America Merrill Lynch downgrades Unilever (UL, ULVR.LN) to underperform from neutral and cuts its price target, saying the company is one of the most expensive stocks in its consumer-staples universe, trading at a 10% premium versus a historical 10% discount to parity. It expects the management to issue a cautious 2012 outlook at its full year results in early February. Shares were down 3.6% to $32.12 in premarket trading.

Hewlett-Packard Co. (HPQ) named EBay Inc. (EBAY) veteran Henry Gomex as its new chief communications officer, a newly expanded role at the technology giant. Gomez, 48, will report to Hewlett-Packard President and Chief Executive Meg Whitman, who took charge of the company in September after leading eBay as its CEO for a decade through 2008. Shares edged down 0.2% to $26.65 in premarket trading.

Arena Pharmaceuticals Inc. (ARNA) is selling $16.5 million in stock at a 5.1% discount to its Tuesday close. It will also sell some preferred convertible shares. The biotechnology company's shares fell 5.1% to $1.66 in premarket trading.

Alcohol producer China New Borun Corp. (BORN) said Tuesday it has signed presales contracts worth about 90% of its total output capacity this year. Shares jumped 19% to $3.97 in premarket trading.

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Cable-television and broadband-services provider Charter Communications Inc. (CHTR) plans to offer $750 million of 10-year, senior unsecured notes to finance tender offers to reduce debt held by its CCO Holdings LLC and CCO Holdings Capital Corp. units.

Coldwater Creek Inc. (CWTR) projected a wider fourth-quarter loss Tuesday after the retailer's same-store sales continued to slide.

Community Health Systems Inc. (CYH) said it terminated its agreement to buy the assets of the 26-bed Roswell Regional Hospital in Roswell, N.M., amid a Federal Trade Commission review of the deal.

Gentiva Health Services Inc. (GTIV) issued a cautious revenue view for 2012 and said it would provide more guidance once it amends its credit agreement.

Mattress Firm Holding Corp. (MFRM) raised its guidance for the 2011 fiscal year after better-than-expected fourth-quarter sales.

MetLife Inc. (MET) said Tuesday it would stop originating forward residential mortgages, the latest move to avoid increased regulatory scrutiny and stay focused on its core operations.

SemiLEDS Corp. (LEDS) swung to a first-quarter loss as the maker of light-emitting-diode products said it continued to face a challenging economy, higher expenses and weaker margins.

Stryker Corp. (SYK) expects its 2012 adjusted earnings to grow at double-digit levels from the prior year's expected profit, but issued sales guidance for the new year that was mostly below analyst expectations.

Summer Infant Inc. (SUMR) said its fourth-quarter results were disappointing because of weak consumer interest, reduced retailer inventory and delays in shipping new products, forcing the maker of infant care and safety products to lower its targets for 2011.

Tesoro Corp. (TSO) said it will try to sell its Hawaiian assets late this year so it can focus more on its refining operations in the continental U.S.

Ultra Clean Holdings Inc. (UCTT) raised its guidance for the fourth quarter on expectations that revenue will exceed its downbeat forecast given in October.

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

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