U.S. Hot Stocks: Hot Stocks to Watch
September 30 2015 - 9:41AM
Dow Jones News
By Chris Wack and Maria Armental
Among the companies with shares expected to trade actively in
Wednesday's session are Western Digital Corp. (WDC), Pfizer Inc.
(PFE) and Mellanox Technologies (MLNX).
Unisplendour Corporation Limited will buy a 15% stake in Western
Digital Corp., allowing it to nominate a director, the companies
said Wednesday. Western Digital shares were up 13.5% at $78.17 in
premarket trading.
Pfizer Inc. on Wednesday boosted its full-year revenue and
adjusted-earnings outlooks to reflect its recently completed
acquisition of Hospira Inc. Shares rose 0.84% to $31.28
premarket.
Cash America International Inc. named Chief Operating Officer T.
Brent Stuart as the payday lender's new chief executive, bringing
to a close a search for a successor for its retiring chief that
began more than a year ago. Cash America shares were untraded
premarket.
Mellanox Technologies Ltd. agreed to acquire EZchip
Semiconductor Ltd. for about $770 million. Shares fell 3.24% to
$38.50 premarket.
Actuant Corp. (ATU) said sales and profit dropped in its latest
quarter as the industrial-services company felt the pinch of
currency headwinds and weakness in commodities. Share fell 0.68% to
$17.45 premarket.
Paychex Inc. (PAYX) said its earnings rose 22% on continued
growth in its payroll and human-resource-services businesses and a
boost from a tax benefit in the latest quarter. Shares rose 2.15%
to $47.00 premarket.
C&J Energy Services Ltd. said Wednesday that the continued
downturn in commodity prices has led the company to expect current
quarter sales below previously-issued guidance.
Teen retailer Aeropostale Inc. is considering a reverse stock
split to shore up the value of its beleaguered shares. The New York
Stock Exchange requires among its listing conditions that a company
maintain a price of at least $1 a share. The company's stock, down
75% this year, set a record low on Wednesday at 55 cents a
share.
AT&T Inc. (T) said it is changing the methodology that
DirecTV uses to count commercial subscribers, resulting in 918,600
fewer users at the satellite-television provider. AT&T now will
count each commercial account at DirecTV as one subscriber;
previously, DirecTV used a method that converted commercial
accounts to an equivalent number of residential subscribers based
on relative revenue per account.
Campbell Soup Co.'s (CPB) longtime director Les Vinney will
succeed Paul Charron as board chairman on Nov. 1, the company said
Wednesday. The leadership change comes as the iconic soup company
is trying to revamp sales by betting on fresh food.
Chesapeake Energy Corp. (CHK) is reducing its workforce by 15%
to reduce costs amid low prices for crude and natural gas. In a
regulatory filing Tuesday, the U.S. shale driller said it expects
to post third-quarter charges of roughly $55.5 million related to
the move.
Costco Wholesale Corp. (COST) on Tuesday reported lower fuel
prices and the stronger U.S. dollar again weakened sales in the
latest quarter, even as profit improved 10%.
Filtration manufacturer Donaldson Co. Inc. said on Tuesday that
it needs more time to meet a regulatory requirement over its
financial performance for the year ended July 31, after finding
several instances in which revenue was recognized in the wrong
period. The accounting errors affect the fourth quarter of 2014 and
second and third quarters of 2015, the company said, adding the
errors identified so far are "immaterial" for financial purposes.
The investigation continues.
Huntington Bancshares Inc. (HBAN) said Tuesday that a Michigan
federal court issued a nearly $72 million judgment against its
banking unit in its long-running dispute with the bankruptcy
trustee at Teleservices Group Inc. The regional bank, which plans
to appeal the decision, will increase its legal reserves by about
$45 million in the third quarter to fully accrue for the judgment,
it said in a regulatory filing.
Mississippi Power Co. (SO) said it may miss an important
completion deadline for the coal-gasification power plant it's
building in Mississippi, forcing it to forfeit $234 million in
federal tax credits already taken.
Ralph Lauren Corp. (RL) said it has hired Stefan Larsson, the
global president of Gap Inc.'s Old Navy division, as its chief
executive, putting in motion a succession plan for one of fashion's
biggest companies. In an interview Tuesday at his Madison Avenue
office, Mr. Lauren stressed that the change wasn't about him
stepping aside, but rather about bringing on a partner to help take
the company to the next level. "The company has to change," Mr.
Lauren said. "It's a public company and we have a responsibility to
have the right leadership."
Write to Chris Wack at chris.wack@wsj.com and Maria Armental at
maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 30, 2015 09:26 ET (13:26 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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