U.S. Hot Stocks: Hot Stocks to Watch
March 16 2016 - 9:47AM
Dow Jones News
Among the companies with shares expected to trade actively in
Wednesday's session are Peabody Energy Corp. (BTU), SunEdison Inc.
(SUNE) and TerraForm Power (TERP).
Peabody Energy posted a going-concern notice in a regulatory
filing, warning that it may have to seek chapter 11 bankruptcy if
its efforts to negotiate with creditors fails. Shares fell 53% to
$1.90 in premarket trading.
SunEdison on Wednesday said it is again delaying the filing of
its annual report, citing in part the discovery of "material
weaknesses in its internal controls over financial reporting."
Shares fell 16% to $1.75 premarket.
TerraForm on Wednesday also said it would delay the filing of
its annual report as its financial reporting and control processes
rely significantly on SunEdison systems and personnel. Shares fell
12% to $9.25 premarket.
Industrial-product maker Actuant (ATU) widened its loss and
posted a revenue decline in its latest quarter as the company cut
its forecast and wrote down $169 million in asset impairments.
Abbott Laboratories (ABT) said Tuesday its Absorb dissolving
heart stent received a positive review from a Food and Drug
Administration panel, paving the way for potential approval in the
U.S. The stent, made of biodegradable material, is already
available in other countries.
Baxalta Inc. (BXLT), which develops drugs for blood and immune
disorders and cancer, said former parent company Baxter
International Inc. will reduce its Baxalta stake to about 5.1% from
13.8%.
Eastman Kodak Co. on Tuesday cuts its revenue projection for the
year as it moves to sell its Prosper enterprise inkjet business and
exit silver metal mesh development, focusing instead on developing
touch sensors on copper mesh technology. Kodak said it would take
an unspecified impairment charge in the March quarter tied to the
silver metal mesh exit.
Fogo de Chão Inc. (FOGO) on Tuesday gave downbeat projections
for the current year, even as fourth-quarter profit nearly doubled
as the company benefited from an extra week.
Itron Inc. (ITRI) said a review of the timing of its recognition
of software and related revenue requires additional time, resulting
in the company missing an already extended deadline Tuesday to file
its 2015 financial results with the Securities and Exchange
Commission.
Oracle Corp. (ORCL) on Tuesday reported solid growth in its
cloud computing businesses in the last quarter, even as it
continued to wrestle with the effects of a strong U.S. dollar. The
company also added $10 billion to its existing buy-back plan.
Pfizer Inc. (PFE) Chief Executive Ian Read's total compensation
fell 23% in 2015, partly due to a decrease in stock awards,
according to a regulatory filing. Mr. Read's 2015 pay package was
valued at $18 million, including a base salary of $1.9 million, up
from $1.8 million in 2014.
Write to Chris Wack at chris.wack@wsj.com and Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
March 16, 2016 09:32 ET (13:32 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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