Date : 07/24/2012 @ 9:19AM
Source : Dow Jones News
Stock : Zions Bancorporation (ZION)
Quote : 54.17  0.01 (0.02%) @ 6:00PM


DeVry Education Group Inc. (NYSE:DV)
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Among the companies with shares expected to actively trade in Tuesday's session are DeVry Inc. (DV), United Parcel Service Inc. (UPS) and Biogen Idec Inc. (BIIB).

DeVry Inc. (DV) forecast downbeat results for its fiscal fourth quarter and said it plans to cut its workforce, as the for-profit educator said higher-than-anticipated operating costs and continued weakness in student enrollment continued to weaken its results. Shares slumped 29% to $19.70 premarket. The weak guidance also pressured peers Apollo Group Inc. (APOL), which runs the University of Phoenix. Apollo was last off 10% to $26.00 in premarket trading.

United Parcel Service Inc. (UPS) modestly missed both top and bottom-line consensus estimates in the second quarter as the shipping giant was hit by "increasing uncertainty" in the U.S., "continuing weakness in Asia exports" and Europe's debt crisis, according to Chief Executive Scott Davis. Shares were last trading 3.7% lower at $75.04 in premarket trading.

Biogen Idec Inc.'s (BIIB) second-quarter earnings rose 34% as the pharmaceutical company's revenue continued to grow amid strong sales growth for its biggest drug, multiple-sclerosis treatment Avonex. Shares were up 2.7% to $143 premarket.

Baidu Inc's (BIDU) second-quarter profit grew 70% as the Chinese Internet-search giant saw its revenue still soaring on stronger ad sales, though costs continued to rise. American depositary shares jumped 6% to $113.49 as results beat analysts' estimates.

VMware Inc. (VMW) made its largest deal ever Monday, pushing deeper into the data-center business by agreeing to acquire networking company Nicira Inc. in a deal valued at $1.26 billion. The company also reported its second-quarter earnings slipped 13%. Shares were off 3.1% to $86.50 premarket.

Pfizer Inc. (PFE), Johnson & Johnson (JNJ) and their partner, Elan Corp. (ELN), said Monday that a highly anticipated experimental drug for Alzheimer's disease called bapineuzumab wasn't effective at slowing memory loss in a large, late-stage clinical trial in patients with a high-risk genetic mutation. Shares of Elan, which has an approximately 25% stake in the drug, slumped 14% to $11.58 premarket.

Under Armour Inc. (UA) exceeded expectations in the second quarter and raised its outlook for the year thanks to a strong performance in its footwear business. Revenue for the business was up 44% as Under Armour has released new products, including the debut of a lightweight running shoe. Shares jumped 5.6% to $51.25 premarket.

Shares of drug developer Sarepta Therapeutics Inc. (SRPT) more than doubled in premarket trading after the company said its eteplirsen treatment showed "significant clinical benefit" in a Phase 2 trial of muscular dystrophy patients. Shares were up 117% at $7.50 in premarket trade.

German software company SAP AG (SAP.XE) Tuesday confirmed it is on track to meet its full-year targets after recording a 13% jump in second quarter profit, defying ongoing economic worries across the globe. U.S.-listed shares were last up 2.1% to $61.32 in premarket trading.

Pharmaceutical company Zogenix Inc. (ZGNX) unveiled plans to offer an unspecified number of shares of common stock. It plans to use proceeds to repay debt, fund the development of its chronic-pain drug Zohydro and ongoing commercialization of its Sumavel DosePro needle-free delivery system, as well as for working capital and other general corporate purposes.

Eldorado Gold Corp. (EGO) shares got a boost Tuesday on news of a lifted suspension in Greece on the surface clearing activities of Hellas Gold S.A, which is a 95% owned subsidiary of Eldorado in the Greek city of Halkidiki. The company is "pleased with the decision" and "will re-iniate" surface clearing activities "as soon as practically possible." Shares were last trading 2% higher at $10 premarket.


Standard & Poor's Ratings Services downgraded Booz Allen & Hamilton Inc.'s (BAH) speculative grade ratings by a notch on expectations that the consulting company's planned special dividend of about $1 billion will lead to sharply increased leverage levels.

Chart Industries Inc. (GTLS) has agreed to acquire medical oxygen generator AirSep Corp. for $170 million in cash, in a deal expected to expand its gas processing capabilities and complement its energy business.

Crane Co.'s (CR) second-quarter profit rose 24%, aided by the sales of two businesses, though restructuring costs weighed down its largest segment. The company narrowed its guidance for the year to reflect recent divestitures.

Crestwood Midstream Partners LP (CMLP) lowered its full-year earnings guidance, noting the impact of delays in well completions on second-quarter results and moderated drilling activity in dry gas areas for the remainder of the year.

Fidelity National Financial Inc.'s (FNF) second-quarter earnings jumped 84% as the title insurer got a boost from its restaurant operations.

Owens & Minor Inc. (OMI) reported second-quarter earnings increased 3.3% as revenue improved and said it plans to acquire Celesio AG's (CLS1.XE) healthcare third-party logistics business Movianto Group for about 130 million euros ($158 million), launching the medical-products distributor into the European health-care market.

Rent-A-Center Inc.'s (RCII) second-quarter earnings rose 11% as the provider of rent-to-own home merchandise continued to see strong growth at its RAC Acceptance arm.

Sanmina-SCI Corp.'s (SANM) fiscal third-quarter profit fell 4.9% as the electronics manufacturing company saw demand suffer in an uncertain global economy. Still, the company said that it expects revenue to beat expectations in the current quarter.

Stanley Black & Decker Inc. (SWK) has agreed to acquire Hong Kong-based fastener manufacturer Infastech from private equity groups for $850 million in cash, in a deal aimed at further expanding the acquisitive tool maker's footprint in Asia.

Steel Dynamics Inc.'s (STLD) second-quarter profit fell 55%, as increased imports and domestic capacity caused steel prices to weaken.

STMicroelectronics N.V. (STM, STM.FR, STM.MI) swung to a second-quarter loss as the semiconductor company saw softer results in its digital and automotive businesses.

Texas Instruments Inc. (TXN) reported a 34% decline in second-quarter profits and predicted soft third-quarter results, saying an uncertain economic climate is leading to caution among the chip maker's customers and distributors.

Payment processor Vantiv Inc. (VNTV) said its largest shareholder, Advent International Corp. planned to offer about 12.2 million Class A shares.

Zions Bancorp's (ZION) second-quarter profit jumped 26% as the Utah regional bank recorded a smaller provision for loan losses and as credit quality continued to improve.

Pharmaceutical company Zogenix Inc. (ZGNX) unveiled plans to offer an unspecified number of shares of common stock. It plans to use proceeds to repay debt, fund the development of its chronic-pain drug Zohydro and ongoing commercialization of its Sumavel DosePro needle-free delivery system, as well as for working capital and other general corporate purposes.

-Write to Mia Lamar at mia.lamar@dowjones.com

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