Among the companies with shares actively trading after hours are
Netflix Inc. (NFLX), CapitalSource Inc. (CSE) and Sanmina Corp.
(SANM).
Netflix Inc. posted a stronger quarterly profit and continued to
add customers, a sign that its bold and in some ways risky shift in
programming strategy is paying dividends. The Los Gatos, Calif.,
streaming video provider said it gained 630,000 U.S. streaming
subscribers in the quarter ended June 30, the midpoint of its
guidance range but short of Wall Street's expectations. Shares were
down 4% to $251.52 after hours.
PacWest Bancorp (PACW) has agreed to acquire CapitalSource in a
roughly $2.29 billion cash-and-stock deal expected to create one of
the largest commercial banks in California. The transaction values
CapitalSource at around $11.68 a share, a roughly 19% premium to
its Monday closing price. CapitalSource's shares jumped 10% to
$10.83 after hours.
Sanmina Corp., an integrated manufacturing solutions company,
reported third-quarter results that beat analyst expectations,
sending shares 4.8% higher to $15.99 after hours. The company also
provided a fourth-quarter outlook generally in line with consensus
expectations.
Watchlist:
American Greetings Corp. (AM) disclosed the Weiss family, which
has launched a bid to take the greeting-card company private for
about $612 million, has no plans to further sweeten the offer.
Plywood maker Boise Cascade Co. (BCC) said Boise Cascade
Holdings LLC is launching a sale of at least 10 million shares of
the newly public company, which debuted in February. The company
won't receive any proceeds from the stock sale by Boise Cascade
Holdings, which is controlled by private-equity firm Madison
Dearborn.
Corinthian Colleges Inc. (COCO) said former U.S. Secretary of
Defense and director of the Central Intelligence Agency Leon
Panetta has resigned from the for-profit college operator's board,
a move that comes three months after he rejoined as a director.
Crane Co.'s (CR) second-quarter profit fell 12% as the
diversified manufacturer's results were hurt by costs relating to
an acquisition and weaker revenue, but operating margin
increased.
Upscale steakhouse operator Del Frisco's Restaurant Group Inc.
(DFRG), which operates restaurants under the Del Frisco's Double
Eagle Steak House, Sullivan's Steakhouse and Del Frisco's Grille
brands, said at least five million shares would be sold under a
secondary public offering. The stock is being offered by the
company's largest shareholder, private-equity firm Lone Star Funds,
and thus Del Frisco's won't receive proceeds from the stock
sale.
Genesis Energy L.P. (GEL) has agreed to acquire Hornbeck
Offshore Services Inc.'s (HOS) fleet of oil-transport barges and
tug boats for around $230 million in an effort to boost its
ocean-going capacity.
Men's Wearhouse Inc. (MW) unveiled plans to repurchase $100
million of the clothing company's common shares under an
accelerated buyback program that should be completed by the end of
the fourth quarter.
Standard & Poor's Ratings Services lowered its outlook on
Nucor Corp. (NUE) to negative from stable, noting slow domestic
economic growth and high levels of imports are pressuring the
steelmaker's operating performance.
Biopharmaceutical firm Opexa Therapeutics Inc. (OPXA) will be
offering 9.3 million shares to raise money to repay debt and fund
clinical development of a multiple-sclerosis treatment, a Phase II
study and general corporate purposes.
Rent-A-Center Inc.'s (RCII) second-quarter earnings slipped 4.9%
as the provider of rent-to-own home merchandise continued to post
weaker sales in its core U.S. segment, though revenue improved in
its RAC Acceptance and international segments.
Solera Holdings Inc. (SLH) will be required to shed assets to
resolve charges that the maker of auto-insurance software violated
antitrust laws, the Federal Trade Commission said.
STMicroelectronics NV's (STM, STM.MI, STM.FR) second-quarter
loss widened, as the chip maker continued a push to refocus itself
on making electronic sensors and new technology for making smaller
transistors.
Texas Instruments Inc. (TXN) showed improving signs in its
businesses, though the company's long process of exiting the
wireless chip business continues to hang over its income statement.
The company on Monday reported that second-quarter profit rose 48%,
largely due to a $315 million gain associated with transferring
technology to an unnamed customer. Excluding that gain, however,
net income still was slightly above analysts' expectations.
W.R. Berkley Corp.'s (WRB) second-quarter earnings rose 6.5% as
the insurer paid out a smaller portion of premiums to cover claims
and expenses while premium revenue improved.
Zions Bancorp's (ZION) second-quarter profit fell 9.4% as the
Utah-based regional bank saw expenses increase along with a rise in
total loans.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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