Among the companies with shares expected to trade actively in
Friday's session are Kayak Software Corp. (KYAK), Groupon Inc.
(GRPN) and Zipcar Inc. (ZIP).
Priceline.com Inc. (PCLN) is buying Kayak just a few months
after the online-travel aggregator's public debut, in a
cash-and-stock deal that values Kayak at $1.8 billion. The
transaction, which would be Priceline's biggest ever, offers $40 a
share in cash and stock for Kayak, a 29% premium to its Thursday
closing price and 54% higher than its initial public offering
price. Kayak shares surged 25% to $38.80 premarket.
Groupon sounded a discouraging note for investors Thursday with
a quarterly report indicating a narrower loss but slower revenue
growth for the daily-deals website company. Shares tumbled 21% to
$3.10 premarket.
Zipcar's third-quarter profit soared due to higher sales and
membership growth, as the car-sharing operator said it was on track
to record its first full year of profitability since it was founded
in 2000. Results topped expectations, sending shares soaring 28% to
$7.75 in premarket trading.
J.C. Penney Co.'s (JCP) third-quarter loss narrowed as the
retailer recorded lower restructuring and other expenses, while its
core results plummeted on sliding revenue. Shares sank 6.4%
premarket to $20.31 as results missed Wall Street estimates.
Strayer Education Inc.'s (STRA) third-quarter earnings fell 71%
as the for-profit college continued to struggle with declining
enrollment. The company also forecast fourth-quarter earnings and
full-year earnings below analysts' estimates. Shares fell 8.3% to
$51.50 premarket.
Drug developer Array BioPharma Inc. (ARRY) disclosed plans to
offer common stock, but didn't specify how many shares it is
offering. The company had 95.4 million shares outstanding as of
Oct. 19. Shares dropped 11% to $3.63 premarket.
International Game Technology's (IGT) fiscal fourth-quarter
earnings climbed 65% as the slot-machine maker saw strong revenue
gains in its core North American business. Shares jumped 7.6% to
$13.80 premarket as results topped analyst expectations and the
maker of electronic gambling equipment offered upbeat earnings
guidance for the new fiscal year.
Lions Gate Entertainment Corp. (LGF) swung to a fiscal
second-quarter profit as revenue surged on the home-entertainment
release of "The Hunger Games" and as a result of several feature
films. Shares rose 8.9% to $15.90 in premarket trading on the
better-than-expected results.
Walt Disney Co.'s (DIS) fiscal fourth-quarter income improved
14% as the company posted continued growth from its theme parks and
media networks on the heels of a multibillion-dollar deal to
acquire the Star Wars franchise. Shares slipped 4.9% to $47.50
premarket as revenue missed estimates.
Amarin Corp. (AMRN) still doesn't know when or if the U.S. Food
and Drug Administration will grant exclusivity for its prescription
fish-oil heart drug Vascepa. The uncertainty has "presented
challenges" in discussion with Big Pharma players, Chief Executive
Joe Zakrzewski said, but Amarin still hasn't ruled on whether to
hire its own sales force. It expects to decide by the end of
November. Investors feel bullish after the latest remarks, though,
with share up 7% to $10.98 premarket.
Molycorp Inc. (MCP) swung to a third-quarter loss as the
rare-earth mining company's results were hurt by lower selling
prices and higher costs. However, volumes jumped as results
included a recent acquisition. Results were mixed versus Wall
Street's expectations, as sales growth came in lighter than
expected, but the adjusted loss wasn't as great as observers
feared. Molycorp's beaten-down and volatile shares jumped 3.7% to
$9 in premarket trading.
Pluristem Therapeutics Inc. (PSTI), a developer of
placenta-based cell therapies, said a Bloomberg report on the
company was factually inaccurate and misleading and it called for a
correction. The Bloomberg article reported about the Pluristem's
press releases this year regarding successes from its experimental
stem-cell treatment and what the report said was Pluristem's
silence about the subsequent death of a seven-year old girl who was
described as having been saved by the therapy. Pluristem said the
patient in question was treated on a compassionate-use basis in
Israel and wasn't part of Pluristem's ongoing clinical program.
Shares rose 9.5% to $3.12 premarket.
PVR Partners LP (PVR) said it is offering 6.5 million common
units as the limited partnership looks to raise funds to pay down
debt. The company had 88.2 million common units outstanding as of
Oct. 16. Units fell 5.8% to $22.60 premarket.
Roundy's Inc. (RNDY) said its third-quarter earnings fell 36%
and it cut its quarterly dividend by 48%, a move the Midwestern
supermarket chain said will strengthen its balance sheet and
increase its financial flexibility. Shares fell 11% to $4.77
premarket as the results missed analyst expectations and the
company again reduced its full-year adjusted-earnings guidance.
Pegasystems Inc. (PEGA) swung to a third-quarter loss as the
business-software company recorded higher expenses. Shares dropped
1.4% premarket to $19.85 as the results missed Street expectations.
The company also said its finance chief was stepping down.
Watchlist:
Allscripts Healthcare Solutions Inc. (MDRX) on Thursday
confirmed it is evaluating strategic alternatives, as it said
speculation about a potential deal for the
electronic-health-records company hurt its third-quarter
results.
Assured Guaranty Ltd.'s (AGO) third-quarter profit plunged 81%
as the bond insurer recorded a steep loss on credit
derivatives.
Brooks Automation Inc.'s (BRKS) fiscal fourth-quarter profit
surged as the company recognized a one-time tax benefit, though
revenue slid.
Career Education Corp. (CECO) said it will close 23 campuses and
shed about 900 jobs as the for-profit education company looks to
turn itself around. The company also reported it swung to a loss in
the third quarter.
CareFusion Corp. (CFN) said discussions with the Securities and
Exchange Commission resulted in the company deciding to modify some
accounting measures, leading the medical-equipment company to delay
its full fiscal first-quarter financial report, though it provided
a preliminary view.
Moody's Investors Service lowered its investment-grade ratings
on Eaton Corp. (ETN) and Cooper Industries PLC (CBE) by one notch,
citing the significant increase in leverage that will result from
the companies' planned $11.8 billion tie-up.
Energizer Holdings Inc. (ENR) said its fiscal fourth-quarter
earnings more than doubled as the consumer-products company
recorded improved profits for its personal-care segment and also
detailed plans to cut its global workforce by more than 10%.
Energizer also offered upbeat earnings guidance for the new fiscal
year.
Federal Agricultural Mortgage Corp. (AGM, AGMA), commonly known
as Farmer Mac, swung to a third-quarter profit as the company
benefited from fewer derivative losses.
Fossil Inc. (FOSL) has appointed former Guess Inc. (GES)
executive Dennis R. Secor as its new chief financial officer,
effective Dec. 10.
Oil and natural-gas company Legacy Reserves LP's (LGCY) offering
of 8.7 million units priced at $24.80 a piece, matching its
Thursday closing price.
Nordstrom Inc.'s (JWN) fiscal third-quarter earnings rose 15% as
the high-end shoe and apparel retailer reported stronger sales.
However, per-share earnings missed Wall Street expectations by one
cent.
Nvidia Corp.'s (NVDA) fiscal third-quarter profit beat
expectations as its mobile-chip business for smartphones and tablet
computers posted strong gains. However, Nvidia warned the holiday
quarter could be challenging. Nvidia's profit rose 17% as the chip
maker said the tablet-computer market was continuing to encroach on
the affordable personal-computer market, pushing sales of its Tegra
mobile processors along with it.
Public Storage's (PSA) third-quarter profit rose 38% as the
real-estate investment trust posted gains related partly to
foreign-currency adjustments, as well as higher rental revenue.
Sotheby's (BID) third-quarter loss widened as a tax benefit
helped year-earlier results, although the auction house posted
higher revenue.
Tumi Holdings Inc. (TUMI) said an offering of 10.1 million
shares by certain stockholders priced at a 1.4% discount to its
Thursday closing price.
Westar Energy Inc.'s (WR) third-quarter earnings rose 3.2% as
price increases boosted the utility company's revenue.
Write to Anna Prior at anna.prior@dowjones.com.
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