Among the companies with shares expected to actively trade in
Wednesday's session are Teva Pharmaceutical Industries Ltd. (TEVA)
and Merrimack Pharmaceuticals Inc. (MACK).
Teva said President and Chief Executive Jeremy Levin will depart
from the company after less than a year and a half at the helm. The
Israel-based generic-drug maker said its board "has agreed" with
Mr. Levin, who became CEO in May 2012, that he will step down from
the post. Chief Financial Officer Eyal Desheh will serve as
president and CEO on an interim basis, effective immediately.
American depositary shares slipped 5% to $38.98 premarket.
Merrimack Pharmaceuticals said a Phase 2 study on its ovarian
cancer treatment didn't meet the primary endpoint of progression
free survival in the overall population. Shares were down 13%
premarket at $2.95.
Exelon Corp.'s (EXC) third-quarter earnings surged as the
nuclear-power producer benefited from positive hedging impacts and
lower costs, helping results beat expectations. Shares edged up
1.7% to $28.53 premarket.
KaloBios Pharmaceuticals Inc. (KBIO) said the U.S. Food and Drug
Administration granted orphan drug designation for its treatment
for cystic fibrosis patients with Pseudomonas aeruginosa. Shares
climbed 3.5% to $4.50 premarket.
Hess Corp.'s (HES) third-quarter earnings slid 25% as the
oil-and-gas company's results were hurt by lower revenue and
production amid asset sales, extended shutdowns and maintenance.
Shares slid 1.8% to $82 premarket.
IAC/InterActiveCorp.'s (IACI) third-quarter profit more than
doubled as the Internet company recorded stronger revenue,
especially from its portfolio of online-dating websites. But shares
slid 15% to $49.50 in premarket trading, as revenue growth missed
Wall Street's expectations.
Yelp Inc. (YELP) posted a wider third-quarter loss while surging
marketing costs helped obscure another double-digit revenue
increase. Shares of Yelp declined 8.8% to $62.75 in premarket
trading as the company's earnings came in lower than expected.
Buffalo Wild Wings Inc.'s (BWLD) third-quarter profit jumped 67%
as the restaurant chain reported strong same-store sales and lower
costs of traditional chicken wings. Shares jumped 8.5% to $140.50
in premarket trading, as top and bottom line results both exceeded
expectations.
Amarin Corp. (AMRN) said the U.S. Food and Drug Administration
has rescinded a special protocol assessment agreement for a study
related to the biotechnology company's supplemental new drug
application for its cholesterol drug Vascepa, which an FDA advisory
committee voted against earlier this month. Shares tumbled 14% to
$1.80 premarket.
Flextronics International Ltd.'s (FLEX) fiscal second-quarter
profit slipped 21% on higher overhead costs and weaker margins,
though the contract electronics manufacturer reported top-line
growth for the first time in nearly two years. Shares slipped 4% to
$8.50 premarket as the company issued a mostly weak outlook for the
current quarter.
LinkedIn Corp. (LNKD), which has minted strong financial results
and a soaring stock price since going public in 2011, warned of a
sharp slowdown in the current quarter. The professional social
network forecast fourth-quarter revenue to rise 37% to 38% from a
year earlier. While most companies would envy that sort of growth,
it would mark a downshift for LinkedIn, which said its
third-quarter revenue grew 56%. Shares slid 4.2% to $236.75
premarket.
Western Union Co.'s (WU) third-quarter earnings fell 20% as the
money-transfer company recorded a slight drop in revenue and an
increase in expenses. The company also said it expects to add
"significant additional investment" in compliance-related costs in
2014, in light of the current regulatory environment. Shares fell
19% to $15.55 premarket.
Shares of software networking provider Cyan Inc. (CYNI) slumped
18% to $6.48 premarket after the company issued a
weaker-than-expected outlook for the fourth quarter.
Baidu Inc.'s (BIDU, K3SD.SG) third-quarter profit rose 1.3%,
driven by a surge in revenue. American depositary shares of Baidu
were up 6.6% to $170 in premarket trading as the company issued
upbeat guidance for the fourth quarter.
Watch List:
Aflac Inc.'s (AFL) third-quarter earnings fell 31% as impacts
from a weaker yen continued to weigh on its core operations in
Japan.
American Tower REIT's (AMT) third-quarter earnings fell 22% as
the celltower owner posted higher expenses. The top line increased
less than expected.
Ameriprise Financial Inc.'s (AMP) third-quarter profit more than
doubled as the financial-services company and asset manager posted
a double-digit increase in revenue amid growth across all business
segments.
Automatic Data Processing Inc.'s (ADP) fiscal first-quarter
earnings rose 7.6% as the payroll and benefits-administration
company reported revenue growth across its segments. Results beat
expectations.
Booz Allen Hamilton Holding Corp.'s (BAH) fiscal second-quarter
earnings rose 47% as the consulting company benefited from cost
controls that offset a modest decline in revenue. Results beat
views, but the company lowered its revenue guidance for the
year.
Boston Properties Inc.'s (BXP) third-quarter profit more than
doubled as the office landlord reported a jump in base rent
revenue, while a key metric known as funds from operations
jumped.
Caesars Entertainment Corp.'s (CZR) third-quarter loss
drastically widened as the casino operator reported sharply higher
asset impairment charges and a slight decrease in revenue.
Coldwater Creek Inc. (CWTR) unveiled a cost-cutting plan that
the women's apparel retailer said will trim corporate workforce
expenses by about 20% and include an unspecified number of layoffs
at the company.
Comcast Corp.'s (CMCSA, CMCSK) third-quarter profit dropped 18%
as the cable operator reported weaker revenue, as prior-year
results were bolstered by the 2012 Summer Olympics and asset-sale
gains. The bottom line still beat expectations.
DreamWorks Animation SKG Inc.'s (DWA) third-quarter profit fell
59% as the computer-animation studio's film "Turbo" disappointed.
The results, however, didn't decline as much as feared.
Edison International's (EIX) third-quarter profit more than
doubled due to strength from its core operations.
Garmin Ltd.'s (GRMN) third-quarter earnings rose 34% as the
personal-navigation-devices maker posted improved margins and a tax
benefit, though sales continued to fall in its key automotive and
mobile segment. Still, total revenue was better than analysts had
expected and Garmin raised its full-year earnings guidance.
Genworth Financial Inc.'s (GNW) third-quarter earnings more than
tripled as the life and mortgage insurer's year-ago quarter was
weighed down by higher expenses.
Gilead Sciences Inc.'s (GILD) third-quarter earnings rose 17% on
strong sales growth led by biopharmaceutical company's newer HIV
drugs--Stribild and Complera.
Hyatt Hotels Corp.'s (H) third-quarter earnings more than
doubled as the company's occupancy and average daily rates improved
and as results were boosted by gains from the sale of real estate.
The bottom line beat estimates.
Ixia (XXIA) said it had agreed to buy Net Optics Inc. in a $190
million all-cash deal in a bid to boost its network-monitoring
portfolio.
Jones Group Inc.'s (JNY) third-quarter earnings climbed 68% as
the footwear and apparel maker's interest expenses fell, though
revenue and core earnings weakened. The adjusted bottom line still
topped views.
Praxair Inc.'s (PX) third-quarter earnings improved 3.5% as new
project start-ups helped boost the maker of industrial gases'
revenue. But the top line missed expectations, and the company
lowered the high end of its full-year earnings view.
PVH Corp. (PVH) unveiled a succession plan for its Tommy
Hilfiger division, saying that long-term executive Daniel Grieder
will take over as the lifestyle and apparel brand's chief executive
by January 2015.
TE Connectivity Ltd.'s (TEL) fiscal fourth-quarter earnings fell
2.3% as the electronics components maker posted higher tax costs,
though sales grew. Adjusted earnings beat the company's own
forecast, but it gave a weak bottom-line view for the current
quarter.
Universal Health Services Inc.'s (UHS) third-quarter profit rose
60% as the company's revenue grew and its acute-care facilities
were boosted by a favorable Medicaid policy decision in Texas.
WebMD Health Corp.'s (WBMD) swung to a third-quarter profit as
advertising demand continued to improve. The health-information
provider also agreed to acquire Avado Inc., a developer of
cloud-based patient-relationship tools. Financial terms of the deal
weren't provided.
Patent-licensing firm Wi-Lan Inc. (WILN, WIN.T) said its board
initiated plans to explore strategic options, including the
possible sale of the company. "The company strongly believes in its
current business strategy but does not believe that its current
share price accurately reflects its strong balance sheet, the value
of its signed license agreements, its business prospects or the
residual value of its broad intellectual property portfolio," it
said.
Yamana Gold Inc.'s (AUY, YRI.T) third-quarter profit dropped 28%
as weaker metals prices and falling revenue again stung the
Canada-based gold-mining company's results.
Write to Lauren Pollock at lauren.pollock@wsj.com
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