U.S. Hot Stocks: Hot Stocks to Watch

Date : 05/22/2014 @ 9:20AM
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 87.15  -0.28 (-0.32%) @ 7:44PM

U.S. Hot Stocks: Hot Stocks to Watch

Best Buy (NYSE:BBY)
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Among the companies with shares expected to actively trade in Thursday's session are Best Buy Co. (BBY), Perry Ellis International Inc. (PERY) and Dollar Tree Inc. (DLTR).

Best Buy Co. (BBY) maintained a dour outlook for consumer electronic sales for the immediate future, saying it expects industrywide sales declines during its second and third quarters for many categories of products which the retailer sells. The retailer also reported it swung to a fiscal first-quarter profit, though revenue fell 3.3%, missing analyst's expectations. Shares fell 2.6% to $24.70 premarket.

Perry Ellis International Inc. (PERY) said its fiscal first-quarter profit declined 31%, but results still far outpaced the clothing maker's downbeat expectations. Shares rose 15% to $17 premarket.

Dollar Tree Inc. (DLTR) said its fiscal first-quarter profit rose 3.6% as sales grew, the results in line with the company's expectations. The retailer reported higher customer traffic and a bigger average ticket, with seasonal merchandise and candy among the leading categories. Shares rose 5% to $52.50 premarket.

Exxon Mobil Corp. (XOM) reached an agreement with Linn Energy LLC (LINE) that will add nearly 26,000 acres to U.S. oil-and-gas properties managed by Exxon's XTO Energy unit. In exchange, Linn Energy will receive a portion of XTO's interest in the Hugoton gas field in Kansas and Oklahoma. Specific terms of the deal weren't disclosed, although the companies said it was a non-monetary exchange. Linn Energy shares rose 3.2% to $29.20 premarket.

Hess Corp. (HES) agreed to sell its retail business to Marathon Petroleum Corp.'s (MPC) Speedway LLC unit for total cash consideration of $2.6 billion. The deal includes Hess's retail locations, transport operations and shipper history on various pipelines. It will make Speedway the largest company-owned and operated convenience-store chain in the U.S. by revenue, Speedway President Tony Kenney said. Hess shares rose 1.9% to $91 premarket.

NetApp Inc. (NTAP) said its fiscal fourth-quarter profit rose 13%, as lower costs and expenses masked a decline in revenue. NetApp, which builds storage and data-management products for its clients, has been facing an increasingly challenging business environment because of continuing competition from flash memory and the cloud. Shares rose 31 cents to $34.80 premarket.

Renren Inc. (RENN) swung to a first-quarter profit as the Chinese social-networking company benefited from a $57.1 million gain from the sale of its remaining interest in popular daily-deal site Nuomi.com to Baidu Inc. (BIDU). The deal, which closed in the first quarter, helped mask a sharp drop in revenue for the quarter. Shares rose 5.1% to $3.33 premarket.

Sanchez Energy Corp. (SN) agreed to acquire assets in the Eagle Ford trend of South Texas from Royal Dutch Shell PLC (RDSA, RDSA.LN, RDSB, RDSB.LN) for about $639 million. Royal Dutch Shell said the deal, expected to close in the second quarter, is part of a broader restructuring of its North American shale oil and gas portfolio. Sanchez Energy shares rose 8.9% to $31.42 premarket.

Sears Holdings Corp. (SHLD) said it plans to close at least 80 stores this year, as its fiscal first-quarter loss widened amid falling revenue and weak same-store sales. Shares fell 2.9% to $35.50 premarket.


Buckle Inc. (BKE) said its fiscal first-quarter profit was nearly flat from a year earlier, while the clothing retailer's same-store sales ticked slightly lower. The company's per-share earnings results were in line with market expectations, though its net sales missed analysts' forecasts.

L Brands Inc.'s (LB) fiscal first-quarter profit rose 10% as the retailer reported higher sales at its Bath & Body Works and Victoria's Secret brands. The company, formerly called Limited Brands Inc., lowered the top of its full-year earnings outlook range by five cents a share.

Semtech Corp.'s (SMTC) first-quarter profit fell by nearly half as the chip manufacturer posted a drop in revenue and slightly weaker gross margins. However, the company swung to a profit from the fourth quarter and posted projections for the second quarter that topped Wall Street projections.

Signet Jewelers Ltd. (SIG) said its fiscal first-quarter profit rose on top-line growth and higher same-store sales. The company's earnings just exceeded its expectations, while revenue fell short of analysts' views. Signet, which owns Kay Jewelers and Jared the Galleria of Jewelry, earlier this year agreed to buy smaller rival Zale Corp. for $21 a share in cash.

United Natural Foods Inc. (UNFI) agreed to buy fellow specialty-foods distributor Tony's Fine Foods for about $195 million, expanding its footprint in the western U.S. and growing its offerings in cheeses, deli and bakery foods.

Write to Maria Armental at maria.armental@wsj.com and Tess Stynes at tess.stynes@wsj.com

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