U.S. Hot Stocks: Hot Stocks to Watch
September 29 2016 - 9:51AM
Dow Jones News
Among the companies with shares expected to trade actively in
Thursday's session are Intra-Cellular Therapies Inc. (ITCI),
Chesapeake Energy Corp. (CHK), and Genocea Biosciences Inc.
(GNCA).
Intra-Cellular Therapies' lead drug candidate had a similar rate
of effectiveness to placebo in a Phase 3 schizophrenia trial, the
company said Wednesday. Shares of the company sank 63% to $15.70 in
premarket trading.
Chesapeake Energy declined 3.7% to $6.49 after announced a
private placement of $850 million in convertible notes. Chesapeake
also confirmed it had received subpoenas from the Department of
Justice and the U.S. Postal Service.
Genocea Biosciences said its investigational immunotherapy for
genital herpes met its primary endpoint in a phase 2B trial,
showing statistically significant efficacy in treating the disease
and affirming results of an earlier study. Shares rose 14% to $6.50
premarket.
PepsiCo Inc. (PEP) raised its earnings forecast for the year as
the snack-and-beverage giant reported a surprise increase in core
profit, boosted by lower raw-material costs, despite sliding
revenue. Shares were up 2.6% at $110.21 premarket.
Pier 1 Imports Inc. (PIR), under recent pressure from an
activist investor, on Wednesday cut its financial projections for
the year a reported it swung to a quarterly loss driven by a 6.7%
revenue decline. The loss was the quarter, however, was smaller
than expected. Shares rose 8.9% to $4.65 premarket.
Activist investor Carl Icahn has slashed his holdings in Swiss
offshore drilling company Transocean Ltd. (RIG) by about
three-quarters to a 1.5% stake. The move was made "to recognize a
capital loss for tax planning purposes, " according to a regulatory
filing. Shares of the drilling company slipped 0.6% to $9.96
premarket.
Accenture PLC (ACN) reported profit shot up 45% in the most
recent quarter as revenue continues to grow across the
consultancy's segments.
Sumner Redstone's National Amusements Inc. on Thursday publicly
called for the boards of the companies it controls--Viacom Inc.
(VIA, VIAB) and CBS Corp. (CBS, CBSA)--to explore a reunion of the
media giants, arguing that a combined company could better tackle
shifting consumer trends.
ConAgra Foods Inc. (CAG) on Thursday reported revenue declines
across the company's units as it works to spin off its frozen
potato and focus its business on higher-quality, higher-priced
products.
McDonald's Corp. (MCD) on Thursday said it raised its quarterly
dividend 6% as the fast-food giant moves through its turnaround
plan.
Philip Morris International Inc. (PM) raised its profit forecast
for the year, citing currency exchange rates.
Write to Jenny Roth at jenny.roth@wsj.com and Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
September 29, 2016 09:36 ET (13:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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