Among the companies with shares expected to actively trade in
Wednesday's session are Garmin Ltd. (GRMN), DreamWorks Animation
SKG Inc. (DWA) and Laboratory Corp. of America Holdings (LH).
Shares of Garmin traded higher premarket after second-quarter
earnings surged 70% as the personal-navigation-devices maker saw
strong revenue growth and lower costs of goods sold. Results
comfortably exceeded Wall Street expectations. The company also
raised its full-year per-share earnings view. Shares rose 6.2% to
$40.99.
DreamWorks Animation SKG's second-quarter earnings slumped 63%
as the computer-animation studio struggled to match year-earlier
results boosted by its popular "Kung Fu Panda 2" film. Shares fell
8.3% to $17.60 premarket.
LabCorp shares jumped 15% to $96.50 premarket on reports that
the lab-testing company is the target of a private equity buyout.
Mergermarket mentioned TPG Capital, Bain Capital, Blackstone Group,
Kohlberg Kravis Roberts and Madison Dearborn as potential bidders.
In a note to clients, Wells Fargo says the report "does not
surprise us considering we have long thought that LabCorp might be
a target because of its strong free cash flow generation and
relatively stable business." LabCorp representatives didn't
immediately respond to requests for comment.
Digital River Inc.'s (DRIV) second-quarter earnings dropped 31%
after a tax benefit boosted the provider of e-commerce
outsourcing's prior-year results and as revenue slipped slightly,
missing the company's revenue estimates. Shares sank 19% to $14.40
premarket as the company lowered its expectations for the year,
noting weaker personal-computer sales and macroeconomic
uncertainty.
Silicon Image Inc.'s (SIMG) second-quarter loss narrowed as the
provider of wireless and wired connectivity products' revenue grew
more than it expected. Shares surged 27% to $4.98 in premarket
trading as the company offered upbeat revenue guidance for the
current quarter.
Genworth Financial Inc. (GNW) swung to a profit in the second
quarter as results at its troubled mortgage-insurance unit
improved. Shares climbed 6.8% to $5.38 in premarket trading.
Frontier Communications Corp.'s (FTR) second-quarter earnings
fell 44% as the regional telecommunications company reported heavy
one-time costs and fewer residential and business customers. Still,
revenue and adjusted earnings beat Street expectations and the
company's operating margin improved. Shares rose 5.4% to $4.13
premarket.
Career Education Corp. (CECO) swung to a second-quarter loss as
goodwill and asset-impairment charges weighed on the for-profit
education company's bottom-line results and as student enrollment
continued to decline. The results were weaker-than-expected. Shares
fell 19% to $3.80 premarket.
Shire PLC (SHPG, SHP.LN) posted a strong rise in second-quarter
profit, boosted by a solid performance in its attention deficit
hyperactivity disorder treatments in the U.S. and by new patient
demand for its enzyme replacement therapies. The U.K. drug company
says it is on track to deliver double-digit full-year earnings
growth this year. Shares rose 5.9% to $91.24 premarket.
Radian Group Inc. (RDN) swung to a fiscal second-quarter loss as
the mortgage insurer recorded weak revenue driven by lower net
premiums earned, losses from derivatives and other financial
instruments, and lower investment gains. Shares fell 8.6% to $2.56
in premarket trading.
True Religion Apparel Inc.'s (TRLG) second-quarter profit rose
3.6% as the jeans maker reported continued increases in direct
consumer sales in the U.S. But revenue growth slowed from previous
quarters, and the company cut its full-year outlook. Shares slipped
16% to $22.05in premarket trading.
Watchlist:
Allstate Corp. (ALL), the largest publicly traded home-and-auto
insurer in the U.S., swung to a second-quarter profit as the
company raised rates and natural disasters proved far less
costly.
Arthur J. Gallagher & Co.'s (AJG) second-quarter earnings
rose 72% as the insurance broker and consulting firm continued to
report growth at its brokerage and risk-management segments.
BMC Software Inc.'s (BMC) fiscal first-quarter earnings fell 43%
as higher costs, soft demand and foreign-exchange headwinds drove
weaker-than-expected results.
BRE Properties Inc.'s (BRE) second-quarter earnings more than
doubled as same-store revenue continued to improve.
Cabot Corp.'s (CBT) fiscal third-quarter profit rose 10% as the
chemicals and specialty materials company posted stronger income
from its core business, as prices increased.
CBOE Holdings Inc. (CBOE) boosted its quarterly dividend by 25%
and raised its stock-buyback program by $100 million, looking to
bolster shareholder value.
CBRE Group Inc.'s (CBG) second-quarter income surged 24% as its
Americas region, its largest top-line contributor, posted strong
revenue growth.
DDR Corp.'s (DDR) second-quarter loss widened as the real-estate
investment trust reported heavy write-downs, masking revenue
growth.
Edison International's (EIX) second-quarter earnings fell 46% as
the utility company saw losses at its wholesale-power unit as well
as a delay in a planned rate increase continue to drag down
results.
Electronic Arts Inc. (EA) said it will make a key videogame free
for players following struggles to gain traction with a
subscription model. It reported its fiscal first-quarter earnings
fell 9% as core revenue slipped.
Idenix Pharmaceuticals Inc. (IDIX) said it has commenced a
public offering of $150 million of its shares.
Jones Lang LaSalle Inc.'s (JLL) second-quarter profit fell 15%
as higher costs masked stronger revenue.
Kimco Realty Corp.'s (KIM) second-quarter profit jumped 79% as
the real-estate investment trust reported improved revenue from
rental properties and a boost from property sales.
MAP Pharmaceuticals Inc. (MAPP) intends to offer and sell an
undisclosed number of shares, as it raises funds for general
corporate purposes and to bring its investigational migraine drug
Levadex to market.
Nabi Biopharmaceuticals (NABI) said its modified Dutch auction
self-tender offer was oversubscribed as of its deadline Monday.
Oneok Inc.'s (OKE) second-quarter profit rose 18%, helped by
strong results from its Oneok Partners LP (OKS) unit, which saw
earnings improve 21%.
Papa John's International Inc.'s (PZZA) second-quarter earnings
jumped 22% as the pizza-delivery company continued to see higher
sales in North America and abroad. Results topped analyst
expectations and the company again raised its full-year
outlook.
Pioneer Natural Resources Co. (PXD) swung to a second-quarter
loss amid $280.3 million in asset write-downs amid weaker
commodities prices.
Polypore International Inc.'s (PPO) second-quarter income fell
31%, as the company saw lower sales of its lithium-battery
separators and higher expenses.
QEP Resources Inc. (QEP) swung to a second-quarter loss as the
exploration-and-production company saw prices for natural gas, oil
and natural-gas liquids all drop substantially and weaken overall
revenue.
Regency Centers Corp.'s (REG) second-quarter earnings fell 56%,
though the shopping-center owner saw a key gauge of its
profitability beat market estimates.
RenaissanceRe Holdings Ltd.'s (RNR) second-quarter earnings
surged as the insurer saw far fewer expenses related to insured
catastrophic events.
Scripps Networks Interactive Inc. (SNI) has authorized an
additional $1 billion in share repurchases, as the cable-network
operator looks to boost shareholder return.
Spirit Airlines Inc. (SAVE) said that shareholders tied to
Oaktree Capital Management L.P. are offering to sell all their
shares of the company, amounting to roughly 9.39 million.
Take-Two Interactive Software Inc. (TTWO) reported a much wider
first-quarter loss on a 32% drop in revenue, as two high-profile
videogame titles failed to gain traction with consumers.
Taubman Centers Inc. (TCO) plans to sell 2.5 million shares,
intending to use the proceeds in part to pay down debt.
TTM Technologies Inc. (TTMI) swung to a second-quarter profit as
impairment charges weighed on the printed circuit board
manufacturer's year-ago results, but core earnings missed the
company's expectations.
Uni-Pixel Inc. (UNXL) said the company and two of its
shareholders will offer a total of 3 million shares.
WebMD Health Corp.'s (WBMD) swung to second-quarter loss as the
health-information provider reported that its advertising and
sponsorship revenue dropped 23%.
Write to Anna Prior at anna.prior@dowjones.com
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