U.S. Hot Stocks: Hot Stocks to Watch
May 27 2016 - 9:42AM
Dow Jones News
Among the companies with shares expected to trade actively in
Friday's session are Big Lots Inc. (BIG), Thermo Fisher Scientific
Inc. (TMO) and FEI Co. (FEIC).
Big Lots on Friday boosted its outlook for the year and reported
a 20% rise in profit in the first quarter as comparable-store sales
continued to rise at the discount retailer. Shares rose 14% to
$50.88 in premarket trading.
Lab-equipment company Thermo Fisher Scientific on Friday said it
reached a deal to acquire microscope-technology maker FEI for $4.5
billion in cash. Shares of Thermo Fisher rose 0.69% to $152.25
premarket. Shares of FEI rose 12.58% to $106.48 premarket.
Hercules Offshore Inc. (HERO) is back in chapter 11 bankruptcy
protection with a deal involving nearly all first-lien debtors.
Unsecured creditors are proposed to be paid in full, and
shareholders will get something via asset sales as Hercules plans
to go out of business. Shares fell 37.11% to $1.22 premarket.
Deckers Outdoor Corp. (DECK), maker of UGG boots and Sanuk
sandals, on Thursday reported that it swung to a quarterly loss,
though results were better than expected. The company said Dave
Powers, president of Deckers brands, will succeed Chief Executive
Angel Martinez following Mr. Martinez's retirement Tuesday. Deckers
fell 1.7% to $48.40 premarket.
Williams Cos. (WMB)'s suit against Energy Transfer Equity LP
(ETE) Chairman Kelcy Warren has been dismissed by a Dallas court,
ETE said Thursday. Williams had accused Mr. Warren of interfering
with a proposed merger of the two companies by issuing special
preferred shares to company insiders, insulating them from a
dividend cut. Separately, Williams has argued in a Delaware Court
that ETE has breached the merger agreement and is seeking to hold
ETE to the terms of the deal. ETE has fired back with a
counterclaim, arguing that it is WMB that has breached the merger
agreement and seeking permission to terminate the deal.
GameStop Inc. (GME) on Thursday reported an 11% drop in
quarterly profit and gave a lackluster projection for the current
quarter, as the videogame retailer races to keep pace with a market
in which games increasingly are downloaded.
General Motors Co. (GM) has agreed on a $14.5 billion revolving
credit facility, reaffirming its so-called capital allocation
framework. The financing includes a $10.5 billion five-year
facility and a $4 billion three-year facility. GM said 44 financial
institutions participated in the credit agreement. It replaces an
existing $12.5 billion revolving credit facility.
Palo Alto Networks Inc. (PANW) on Thursday reported a wider
quarterly loss on higher expenses and gave a downbeat outlook for
the current quarter.
Offshore driller Rowan Cos. PLC's (RDC) top executives have
agreed to a voluntary 10% salary cut starting July 1 as a show of
"good faith" during the oil-price downturn.
Big-data software company Splunk Inc. (SPLK) on Thursday
reported a 48% increase in first-quarter revenue and raised its
full-year guidance for the second time in as many quarters. Splunk,
which hasn't yet reported a profit, posted a wider net loss as its
operating expenses increased.
Ulta Salon Cosmetics & Fragrance Inc. (ULTA) on Thursday
raised its outlook for the year following a 38% jump in profit for
the first quarter.
Western Digital Corp. (WDC) on Thursday cut its profit
projection for the current quarter to reflect higher debt costs
tied to its $19 billion acquisition of rival SanDisk Corp., which
closed this month.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
May 27, 2016 09:27 ET (13:27 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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