Among the companies with shares expected to actively trade in
Wednesday's session are Citizens Financial Group Inc. (CFG), Newell
Rubbermaid Inc. (NWL) and Acorda Therapeutics Inc. (ACOR).
Citizens Financial, a U.S. unit of Royal Bank of Scotland Group
PLC (RBS, RBS.LN), is expected to begin trading on Wednesday after
an IPO that priced below the expected range on Tuesday. RBS offered
140 million shares of Citizens for $21.50 each, below the
$23-to-$25 range.
Newell Rubbermaid said its sales growth for the year is tracking
toward the lower end of its earlier guidance, and the
consumer-products maker also introduced a sales outlook for next
year that fell short of current estimates. Shares fell 2.7% to
$34.08 in premarket trading.
Acorda Therapeutics said Wednesday it agreed to buy fellow
neurological drugmaker Civitas Therapeutics for $525 million in
cash, effectively putting an end to Civitas's plans to go public.
Shares jumped 10.4% to $32.39 premarket.
KB Home (KBH) reported fiscal third-quarter earnings Wednesday
that missed analysts' expectations despite higher average selling
prices, especially along the West Coast. Shares fell 6% to $15.94
premarket.
Inovio Pharmaceuticals Inc. (INO) and GeneOne Life Science Inc.
(011000.SE) plan to advance Inovio's DNA vaccine for the Ebola
virus into human trial next year, joining the ranks of other firms
trying to fend off the rapidly spreading virus. Inovio's shares
rose 7.5% to $10.50 premarket.
Baxter International Inc. (BAX) and Merrimack Pharmaceuticals
Inc. (MACK) will be teaming up to develop and commercialize an
investigational pancreatic cancer drug known as MM-398. Merrimack's
shares surged 18.9% to $8.55 premarket. Baxter's shares were
inactive.
Cabot Oil & Gas Corp. (COG) unveiled plans to spend $210
million to boost its acreage in the Eagle Ford Shale but also
lowered the high end of its production guidance for the year,
pointing to infrastructure issues in the Marcellus Shale in
Appalachia. Shares declined 2.7% to $30.75 premarket.
Accenture PLC (ACN) said its fiscal fourth-quarter profit rose
4.5%, driven by gains in revenue in both its consulting and
outsourcing businesses. But the company's forecast for fiscal-year
per-share earnings fell short of analysts' estimates. Shares
dropped 2.6% to $77.50 premarket.
Vail Resorts Inc. (MTN) said its fiscal fourth-quarter loss
widened as higher operating expenses masked growth in revenue. But
the ski operator gave upbeat earnings guidance for the new fiscal
year as season passes remained strong through mid-summer. Shares
were up 3.2% to $90 premarket.
Paychex Inc. (PAYX) said its fiscal first-quarter earnings rose
5.2% on continued revenue growth in its payroll and
human-resource-services businesses.
Hess Corp. (HES) officially filed for an initial public offering
of its midstream assets, which the company expects to go public as
a separate firm on the New York Stock Exchange by the first quarter
of next year.
Pfizer Inc. (PFE) explored a potential tax-lowering takeover of
rival Actavis PLC (ACT) in recent weeks, but talks between the two
pharmaceutical companies have ended, according to a person familiar
with the matter.
Watchlist:
Starbucks Corp. (SBUX) unveiled plans to take full ownership of
its Japanese operations for more than $900 million, part of a
two-step effort that would strengthen the coffee chain's control of
its second-largest market. The company plans to acquire the
remaining 60.5% stake in Starbucks Coffee Japan Ltd. from partner
Sazaby League and public shareholders.
Oracle Corp. (ORCL) paid Larry Ellison, who vacated the chief
executive post last week, $67.3 million for his final full year in
the job, the company said. Nearly all of Mr. Ellison's compensation
consisted of stock options.
Bed Bath & Beyond Inc. (BBBY) said its fiscal second-quarter
earnings fell 10% as the home-furnishings retailer was hurt by
weaker margins and higher costs that offset better-than-expected
sales growth. However, profit beat expectations and shares rose in
late trading.
KCG Holdings Inc. (KCG) said Tuesday that it will cut its
workforce by 4% in the coming weeks, following reports of tensions
inside the computer-driven trading firm.
Steelcase Inc. (SCS) said its fiscal second-quarter earnings
increased 11%, led by a rebound in the office-furniture maker's
Americas division.
Biopharmaceutical company ZS Pharma Inc. (ZSPH) reported
favorable results from a second Phase 3 clinical trial of ZS-9, a
treatment for hyperkalemia, a condition characterized by elevated
levels of potassium in the blood.
GrafTech International Ltd. (GTI), a maker of carbon and
graphite products, said it plans further streamlining initiatives
that include a revamp of its research-and-development functions and
a reduction in its corporate staff of about 25%.
AAR Corp. (AIR) reported fiscal first-quarter earnings and
revenue that missed analyst expectations, leading the aviation
industry supplier to cut its fiscal-year guidance.
Write to Tom Rojas at tom.rojas@wsj.com and Josh Beckerman at
josh.beckerman@wsj.com
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