Among the companies with shares expected to actively trade in
Tuesday's session are VMware Inc. (VMW), BMC Software Inc. (BMC)
and Seagate Technology PLC (STX).
VMware said it would cut about 900 jobs from certain departments
as its revenue growth slows this year, resetting expectations for
investors accustomed to years of surging top-line expansion. The
outlook came after the Palo Alto, Calif., software provider
reported a 2.7% increase in fourth-quarter earnings. Orders from
federal-government customers declined, however, as overall U.S.
bookings fell short of executives' expectations. VMware shares
tumbled 15% to $83.95 after hours. Shares of EMC Corp. (EMC), which
owns a majority of VMware, slid 3.6% to $24.30. Citrix Systems Inc.
(CTXS), which competes with VMware in the virtualization space, saw
its shares fall 3.1% to $69.20 after hours.
BMC Software Inc. lowered its expectations for the current
fiscal year after the information-technology company missed out on
two large renewal contracts. Earnings from the Houston-based
software provider slipped 11% in its fiscal third quarter as higher
operating expenses and stock-based compensation hurt the bottom
line. Shares fell 7.2% to $41.30 after hours.
Seagate Technology's second-quarter earnings fell 13% amid
slower sales of disk drives, which its executives predicted will
continue in the current quarter. Shares were down 4.8% to $35.60
after hours. Shares of competitor Western Digital Corp. (WDC) slid
2.6% to $47.40 after hours.
Sanmina-SCI Corp.'s (SANM) fiscal first-quarter profit declined
93% as the electronics-manufacturing company posted costs related
to an interest-rate swap and narrower margins. Results missed
Sanmina's expectations and the company also issued downbeat
guidance for the current quarter, sending shares down 8.1% to
$10.80 after hours.
Netgear Inc. (NTGR) has agreed to acquire almost all the assets
and operations of Sierra Wireless Inc.'s (SWIR) AirCard mobile
broadband devices business for about $138 million in cash, a move
that will help speed up the mobile initiative of its service
provider business unit to provide the latest in LTE data networking
access devices. Shares of Sierra Wireless rose 8.1% to $9.90
after-hours.
Yahoo Inc. (YHOO) posted quarterly results Monday that reflect a
slight uptick in revenue growth following the hiring of CEO Marissa
Mayer, instilling some fresh confidence in the embattled Internet
firm. Shares climbed 3.2% to $20.95 after hours.
Watchlist:
Beazer Homes USA Inc. (BZH) swung to fiscal first-quarter loss
as the home builder's year-ago results were boosted by a larger
income tax benefit, though revenue improved in the latest
period.
Bob Evans Farms Inc. (BOBE) projected fiscal third-quarter
earnings below analyst expectations, citing noncontinuing factors
in each of its segments as well as the timing of marketing expenses
within its namesake foods business, as the restaurant-chain
operator said it has agreed to sell its Mimi's Cafe segment for $50
million to LeDuff America Inc.
Bonanza Creek Energy Inc. (BCEI) disclosed an offering of 10
million shares on behalf of its stockholder Project Black Bear LP.
After the offering, Project Black Bear will no longer be the oil
and natural gas company's majority owner. Bonanza has about 40.1
million shares outstanding and the number of shares outstanding
won't change as a result of the offering.
Standard & Poor's Ratings Services lowered its rating on
Buckeye Partners LP (BPL) to the brink of junk territory, noting
the midstream energy company's weakening financial measures aren't
expected to improve meaningfully until at least 2015.
Crane Co. (CR) swung to a fourth-quarter profit as the
diversified manufacturer recorded significant provisions in the
year-earlier period, and revenue for the latest period grew. The
company also raised its full-year earnings outlook.
General Growth Properties Inc. (GGP) has purchased warrants held
by the Blackstone Group and Fairholme Funds Inc. for about $633
million, making Brookfield Asset Management Inc. (BAM, BAM.A.T) the
sole holder of General Growth's remaining outstanding warrants.
Pervasive Software Inc. (PVSW) has agreed to be acquired by
Actian Corp. in a deal valued at approximately $161.9 million, five
months after Actian's initial bid to buy the database provider.
Actian will acquire Pervasive for $9.20 a share in cash, a 1.7%
premium to Monday's closing price. Actian in August had offered to
buy the company for $8.50 a share.
Piedmont Natural Gas Co. (PNY) plans to offer about 4 million
shares as the natural gas distributor looks to raise funds for
capital expenditures, debt repayment and other general corporate
purposes. The company had 72.3 million shares outstanding as of
Dec. 14.
Plum Creek Timber Co.'s (PCL) fourth-quarter earnings rose 30%
as the real-estate investment trust reported higher revenue across
its segments.
Rent-A-Center Inc.'s (RCII) fourth-quarter net profit fell 3.7%
as the provider of rent-to-own home merchandise saw its profit
margins come under pressure amid an expansion effort, and
same-store sales slid. Results missed analyst expectations.
Steel Dynamics Inc.'s (STLD) fourth-quarter profit more than
doubled as the steel maker recorded a tax benefit and its margins
improved, masking lower revenue as selling prices continued to
decline.
STR Holdings Inc. (STRI) expects to lay off around 160
employees--or roughly a third of its workforce--in its effort to
cut costs after the maker of solar components said it expected to
lose its biggest customer.
Sunstone Hotel Investors Inc. (SHO) has agreed to sell about
17.3 million shares. The lodging real estate investment trust had
136.8 million shares outstanding as of Nov. 1.
Werner Enterprises Inc.'s (WERN) fourth-quarter earnings fell
12% as margins at the trucking company narrowed on higher fuel
costs, masking a slight revenue increase.
W.R. Berkley Corp.'s (WRB) fourth-quarter profit rose 41%, as
the specialty insurer benefited from stronger core underwriting
results and higher prices that helped mitigate catastrophe losses
related to superstorm Sandy.
Zions Bancorp's (ZION) fourth-quarter earnings declined 35% as
impairment charges on collateralized debt obligation securities
weighed on the Utah regional bank's bottom line, though credit
quality improved.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires