Among the companies with shares expected to actively trade in
Wednesday's session are the Container Store Group Inc. (TCS),
Celgene Corp. (CELG) and American Airlines Group Inc. (AAL).
Container Store lowered its full-year financial projections amid
a "retail funk" that has hampered sales growth even as its
first-quarter loss narrowed. Shares fell 14% to $23.20
premarket.
Celgene said Wednesday its Phase 3 trial of a drug intended to
treat a form of long-term arthritis didn't meet its primary
endpoint after a certain period, although results showed
improvement beyond that. Shares fell 2% to $84.00 premarket.
American Airlines said it will book a charge of $330 million in
its second quarter tied to the sale of its portfolio of fuel
hedging contracts, along with a number of other one-time charges.
The company, meanwhile, also reported its passenger traffic rose 1%
in June from a year earlier on increased capacity. Shares rose 5.8%
to $42.60 premarket.
Silicon Image Inc. (SIMG) cut its revenue outlook for the second
quarter amid lower-than-expected shipments to a significant
customer and a delay of certain expected royalty revenue. Shares
fell 10% to $4.49 in recent premarket trading.
American depositary shares of Portugal Telecom SGPS SA (PT,
PTC.LB) tumble premarket amid criticism from Brazil's state
development bank BNDES relating to an investment by the
telecommunications group in debt issued by Espirito Santo
International. Shares fell 6.1% to $2.79 premarket.
MSC Industrial Direct Co. (MSM) said its fiscal third-quarter
earnings edged higher will revenue increased following higher
demand. Still, shares dropped 5.8% to $87.89.
AeroVironment Inc. (AVAV) swung to a fourth-quarter profit as
the drone maker reported a surge in sales and raised its outlook
for the year. Shares rose 4.3% to $32.29 premarket.
Alcoa Inc. (AA) swung to second-quarter profit, driven by growth
in its engineered products segment and as its primary metals
business also returned to the black. Shares rose 2.4% to $15.20
premarket.
Gigamon Inc. (GIMO) lowered its second-quarter revenue guidance
as the networking-hardware company said it ran into challenges
closing deals in its pipeline in the later end of the period.
Shares fell 31% to $12.64 premarket.
Salix Pharmaceuticals Ltd. (SLXP) agreed to combine with an
Ireland-based unit of Cosmo Pharmaceuticals SpA (COPN.EB) in an
inversion deal that is expected to come with tax benefits. Salix
shares slipped 5.3% to $130.00 premarket.
Watchlist:
Bob Evans Farms Inc. (BOBE) reported a lower profit for its
fiscal fourth quarter and its fourth consecutive decline in
quarterly same-store sales, while also cutting its earnings
guidance for the new year.
Coty Inc. (COTY) unveiled a new organizational structure built
around categories and regions, as the beauty-products maker looks
to improve profitability.
Cummins Inc. (CMI) appointed the president of its engines
business, Rich Freeland, as its chief operating officer, and the
company also unveiled a 25% dividend increase and the buyback of as
much as an additional $1 billion of its stock.
Energizer Holdings Inc. (ENR) will close its feminine-care
products facility in Montreal by early 2017, consolidating
operations in Delaware. The move is part of ongoing
restructuring.
International Paper Co. (IP) said Tuesday its board approved an
expansion of the company's existing share-repurchase program by as
much as $1.5 billion.
Write to Anna Prior at anna.prior@wsj.com and Maria Armental at
maria.armental@wsj.com
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