U.S. Hot Stocks: Hot Stocks to Watch
September 28 2016 - 9:49AM
Dow Jones News
Among the companies with shares expected to trade actively in
Wednesday's session are BlackBerry Ltd. (BBRY), Tempur Sealy
International Inc. (TPX), and Coty Inc. (COTY).
BlackBerry on Wednesday said it would outsource the making of
handsets--the business that once allowed it to dominate the
consumer smartphone market--and instead turn its full focus to
developing secure software and services to drive growth. BlackBerry
shares rose 3.1% to $8.12 in premarket trading.
Tempur Sealy on Tuesday lowered its financial projections for
the year, citing weaker than expected sales this quarter. Shares of
Tempur Sealy tumbled 22% to $58.30 in premarket trading.
Coty will replace Diamond Offshore Drilling Inc. (DO) in the
S&P 500 index after the close of trading on Sept. 30, according
to S&P Dow Jones Indices. Coty shares were up 1.9% at $23.90
premarket.
Nike Inc. (NKE) said revenue rose 7.7% in the latest quarter as
the world's largest sportswear maker reported stronger sales in its
North American business. But future orders, seen as a demand
benchmark for Nike products, missed analysts' targets. Shares of
Nike fell 2.7% to $53.85 premarket.
Farrellgas Partners LP (FGP) posted a loss for the latest
quarter, blaming record temperatures for driving down propane
demand and low crude oil prices for hurting its midstream sector.
The company said it is weighing cutting its quarterly distribution
to reduce its debt and leverage ratio. Shares fell 12% to $14.52
premarket.
Wells Fargo & Co. (WFC) Chairman and Chief Executive John
Stumpf will forfeit $41 million over the bank's burgeoning sales
scandal, marking one of the biggest rebukes to the head of a major
U.S. financial institution.
A German privacy watchdog has ordered Facebook Inc. (FB) to stop
collecting user data from its messenger subsidiary WhatsApp, the
latest clash between European privacy authorities and the
social-network company.
Harmonic Inc. (HLIT), which provides video infrastructure
technology, said Comcast Corp. (CMCSA) has agreed to buy Harmonic
shares under a warrant agreement. Shares of Harmonic rose 7.5% to
$5.01 premarket.
Paychex Inc. (PAYX) said that its earnings rose 4% in the latest
quarter as the company continued to add more clients. Revenue was
boosted by an acquisition.
Sonic Corp. (SONC) said quarterly profit will miss Wall Street
targets amid lower consumer spending at its restaurants. Comparable
sales, a key performance metric for restaurants, fell about 2%,
compared with analysts' projected 0.5% increase.
Write to Jenny Roth at jenny.roth@wsj.com and Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
September 28, 2016 09:34 ET (13:34 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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