Among the companies with shares expected to actively trade in
Wednesday's session are Global Payments Inc. (GPN), Zynga Inc.
(ZNGA) and ConAgra Foods Inc. (CAG).
Global Payments' fiscal third-quarter earnings edged up 0.9% as
the credit-card processor posted stronger revenue that helped
offset higher costs. However, shares dropped 5.1% premarket to
$46.50 as the company missed analysts' estimates for the
period.
Online game maker Zynga said via its blog that the company will
roll out real-money gaming today in the U.K. via its partnership
with Bwin.Party Digital Entertainment PLC (PYGMF, BPTY.LN). Needham
said it's an "important first step toward what could ultimately
become an important source of revenue" as the potential for US
online gambling markets grows. Zynga shares rose 11% to $3.41
premarket.
ConAgra's fiscal third-quarter profit shrank 57% as the
packaged-foods company's results were dragged down by costs related
to its acquisition of Ralcorp Holdings Inc., though the new
business also pushed revenue higher. Shares slipped 3.5% to $34.30
premarket as results missed expectations.
Penn Virginia Corp. (PVA) agreed to buy all of Magnum Hunter
Resources Corp.'s (MHR) Eagle Ford Shale properties for $401
million as the oil and gas company looks to expand its presence in
the high-margin play. Magnum Hunter shares rose 7.6% to $4.10
premarket.
Valeant Pharmaceuticals International Inc. (VRX, VRX.T) agreed
to raise its offer price for Obagi Medical Products Inc. (OMPI) by
22%, besting Merz Pharma Group's recently disclosed offer to buy
the specialty pharmaceutical company. Valeant now will pay $24 in
cash per each Obagi share, boosting its acquisition price to about
$420 million from $345 million. Obagi shares rose 8.8% to $24.90
premarket.
Newfield Exploration Co. (NFX) said it has made a significant
natural-gas discovery off Sarawak, Malaysia, and said it is looking
to sell its international business. Shares rose 6.6% to $23.56 in
premarket trading.
Spectra Energy Partners LP (SEP) has commenced an offering of
4.5 million units representing limited partner interests, and plans
to use proceeds for funding capital expenditures and acquisitions.
The natural gas pipeline and storage facility operator had 103.6
million common units outstanding as of Jan. 31. Units were down
2.7% to $37.76 premarket.
Novavax Inc. (NVAX) said its phase II study of its vaccine
candidate for women of childbearing age to prevent a virus that
causes respiratory tract infections showed positive results and
that the data provided support for continued development efforts.
The biopharmaceutical company's shares were up 12% at $2.62 in
premarket trading.
Ares Capital Corp. (ARCC) intends to offer about 16.7 million
shares as the specialty finance company looks to raise funds to
repay debt and for general corporate purposes, which may include
investing in portfolio companies. It had about 248.7 million shares
outstanding as of Feb. 26. Shares slipped 2.7% to $17.55
premarket.
Verizon Communications Inc. (VZ) said it doesn't plan to merge
with or make a bid for all of Vodafone Group PLC (VOD, VODPF,
VOD.LN), squashing speculation that the U.S. telecommunicatons
giant was working with AT&T Inc. (T) to split up Vodafone among
themselves in a massive deal. American depositary shares of
Vodafone fell 2.9% to $28.55 premarket.
Watchlist:
Revenue manager Accretive Health Inc. (AH) has named former Dell
Inc. (DELL) executive Stephen Schuckenbrock as its new president
and chief executive.
Standard & Poor's Ratings Services lowered its outlook on
Dish Network Corp. (DISH) to stable from positive, noting the
satellite-television operator's continued rise in leverage and
uncertainty regarding its wireless strategy.
Standard & Poor's Ratings Services lowered its outlook on
Dole Food Co. (DOLE) after the company completed a $1.69 billion
divestiture of several of its business lines.
G-III Apparel Group Ltd.'s (GIII) fiscal fourth-quarter profit
rose 61% as the company's sales jumped and its profit margin
widened.
Oxford Industries Inc.'s (OXM) fiscal fourth-quarter earnings
fell 25% as the apparel company recorded higher costs amid the
expansion of the Tommy Bahama brand and fair-value impacts related
to its acquisition of Lilly Pulitzer. The company gave downbeat
earnings forecasts for the new fiscal year and current quarter.
Resources Connection Inc.'s (RECN) fiscal third-quarter earnings
rose 3.7% as the outsourcing and advisory company posted lower
costs and expenses.
Team Inc. (TISI) swung to a fiscal third-quarter loss as a
charge related to devaluation of Venezuelan currency and higher
expenses weighed on the industrial-services company's bottom line,
though revenue continued to strengthen.
Tesla Motors Inc. (TSLA), after building anticipation for
several days with social-media teasers promising a significant
development, on Tuesday said it would do what all other makers have
done for years: offer lease financing on its electric cars.
Weight Watchers International Inc. (WTW) said it has used the
proceeds from a new loan to pay off outstanding debt in a
refinancing effort, adding to expenses this year.
Data-storage company Xyratex Ltd. (XRTX) has agreed to name two
directors nominated by Baker Street Capital LLC after the
shareholder sought change.
Carbon-fiber maker Zoltek Cos. (ZOLT) has launched a process to
evaluate strategic alternatives and has engaged J.P. Morgan
Securities LLC as a financial adviser, following pressure from
investors.
Write to Anna Prior at anna.prior@dowjones.com
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