Among the companies with shares expected to actively trade in
Wednesday's session are Procter & Gamble Co. (PG), Adobe
Systems Inc.(ADBE) and Idenix Pharmaceuticals Inc. (IDIX).
Procter & Gamble lowered its earnings guidance for the
current quarter as well as for the 2013 fiscal year, citing market
share softness in developed markets and a substantial negative
impact from foreign exchange rates. Shares were last trading 2.4%
lower at $60.72 in premarket trade.
Adobe's fiscal second-quarter earnings fell 2.4% as the software
company transitions to subscription services from packaged
software. Shares slumped 5.8% to $30.99 premarket after the company
reduced its full-year revenue target and narrowed its full-year
earnings view.
Biopharmaceutical firm Idenix provided results from an ongoing
Phase 2b study of its lead hepatitis C drug, IDX184, that showed
positive suppression of the virus. Shares were last trading 12%
higher at $10.50 premarket.
Shares of diagnostic-product developer AspenBio Pharma Inc.
(APPY) tumbled premarket after the company revealed it would sell
6.1 million shares at $2 each, a 36% discount to Tuesday's close.
Shares were last down 38% at $1.92 in premarket trading.
La-Z-Boy Inc.'s (LZB) fiscal fourth-quarter earnings surged from
income from antidumping duties and a narrower loss at its retail
segment, though the residential furniture maker's revenue weakened
owing to an added week of sales a year earlier. Shares were down
1.4% to $12.95 premarket.
Watchlist:
Health insurer Aetna Inc. (AET) recently won a group Medicare
Advantage contract for the Teacher Retirement System of Texas that
could add more than $800 million in Medicare premiums next year,
the company said late Tuesday.
BankUnited Inc. (BKU) Chief Executive John Kanas and the bank's
vice chairman and chief lending officer, John Bohlsen, will pay a
combined $20 million to Capital One Financial Corp. (COF) out of
their own pockets to settle a lawsuit alleging they had breached a
noncompete agreement.
Standard & Poor's Ratings Services lifted its outlook on
Charles River Laboratories International Inc. (CRL) to stable from
negative, pointing to the drug-research services provider's
improving revenue trends and lower spending on share
repurchases.
ConAgra Foods Inc. (CAG) responded to a recent lawsuit that
claims its hot dogs and other products sold under its Hebrew
National brand aren't kosher.
GenMark Diagnostics Inc. (GNMK), a provider of medical
diagnostic testing systems, said it plans to offer 10 million
shares of its stock.
GNC Holdings Inc.'s (GNC) board has authorized up to $300
million in share repurchases, as the nutritional-supplement
retailer looks to boost shareholder value.
FSI International Inc.'s (FSII) fiscal third-quarter earnings
soared as the microelectronics-equipment maker posted sharply
higher revenue. Still, shares came under pressure after the company
projected fiscal fourth-quarter revenue below Wall Street
views.
Jabil Circuit Inc.'s (JBL) fiscal third-quarter earnings shrank
3.2%, snapping a long-running streak of improving income, as
distressed customer charges in the latest period overshadowed
slightly improved revenue.
Insight Venture Partners added fellow private-equity firm Vector
Capital to its effort to take Quest Software Inc. (QSFT) private,
raising the data-management company's latest buyout bid to about
$2.17 billion.
Mitel Networks Corp.'s (MITL) fiscal fourth-quarter income
soared as the online-communications company saw higher deferred
income-tax recoveries and better-than-expected revenue buoy
results.
Rite Aid Corp. (RAD) has agreed to pay up to $20.9 million to
settle allegations that the company failed to pay proper overtime
wages to assistant managers and co-managers.
Sunstone Hotel Investors Inc. (SHO) said it plans to sell 11
million shares of its stock, looking to use the money to fund its
planned $91.75 million purchase of the 357-room Hilton Garden Inn
Chicago Downtown/Magnificent Mile.
Write to Mia Lamar at mia.lamar@dowjones.com