Among the companies with shares expected to actively trade in
Wednesday's session are Global Payments Inc. (GPN), Molycorp Inc.
(MCP) and Star Bulk Carriers Corp. (SBLK).
Global Payments's fiscal first-quarter earnings rose 38% on
improved revenue and as the year-earlier period included charges
related to a security breach. The credit-card processor also named
company President Jeffrey S. Sloan as its chief executive,
succeeding Paul R. Garcia. Shares rose 7.5% to $54.50 premarket as
cash earnings and revenue beat expectations and the company raised
its fiscal-year earnings guidance.
Molycorp said it expects two plants that comprise the last major
construction at its Mountain Pass facility in California to be
commissioned and enter into production during the fourth quarter.
The rare-earth mining company's shares were up 6.8% at $7.11 in
recent premarket trading.
Star Bulk didn't give specifics about how much stock its planned
secondary offering would include, but investors aren't waiting to
see how much dilution is coming as they continue to sell the
shipper's stock hard. The sale comes as Oaktree Capital Group LLC
(OAK) and Monarch Alternative Capital, which collectively owned 37%
of the company as of last month, disclosed in an SEC filing then
that they might sell all their shares. Shares slid 15% premarket to
$8.70.
Monsanto Co. (MON) unveiled plans to buy analytics and
risk-management firm Climate Corp. for about $930 million in cash,
while also reporting its fiscal fourth-quarter loss widened as
higher expenses overshadowed stronger sales from its agricultural
productivity business. Results missed expectations, and the company
gave a cautious view for the new year. Shares dropped 2% to $103
premarket.
Pandora Media Inc. (P) said listener hours during September
jumped 18% from a year earlier to 1.36 billion, while Pandora's
share of total U.S. radio listening increased to 7.77% last month
from 6.53% in the year-before period. Shares jumped 4.1% to $26.58
in premarket trading.
Teekay LNG Partners L.P. (TGP) plans to offer three million of
its units to help fund the acquisition of a new LNG vessel and for
other purposes. Further terms weren't disclosed by the company,
which belongs to a group led by Teekay Corp. (TK) that provides
marine-transportation services to the petroleum industry. Teekay
LNG Partners shares were down 4.9% at $42.10 premarket.
Portugal Telecom SGPS SA (PT) and its Brazilian affiliate, Oi SA
(OIBR4.BR, OIBR), will combine operations to form a new
Brazil-based company with more than 100 million subscribers. PT
already is one of several partial owners of Oi. A closer tie-up was
largely expected after former PT Chief Executive Zeinal Bava moved
to head up Oi in June. Portugal Telecom's American depositary
shares rose 15% to $5.23 premarket, while Oi was up 16% to
$2.19.
Watch List:
Autodesk Inc. (ADSK) offered disappointing fourth-quarter
guidance as the design-software company also unveiled plans to
acquire Graitec's advance steel and advance concrete product
lines.
Enterprise Products Partners LP (EPD), a limited partnership
that provides midstream energy services to producers and consumers
of natural gas and natural-gas liquids, filed to offer up to $1.25
billion of its units. Enterprise Products recently had a market
capitalization of $57.2 billion, according to FactSet.
Resources Connection Inc.'s (RECN) fiscal first-quarter earnings
fell 24% as the outsourcing and advisory company posted weaker
revenue for the sixth-straight quarter, as well as tighter
margins.
Staples Inc. (SPLS) bought e-commerce software startup Runa for
undisclosed terms. Staples plans to use Runa's PerfectOffer
software to provide automated and personalized offers in real-time
and PerfectShipping software to provides real-time personalized
delivery estimates and free-shipping offers.
Team Inc.'s (TISI) fiscal first-quarter earnings fell 40% as the
company's Quest Integrity Group unit recorded seasonally weak
performance. Results missed Wall Street estimates, and the company
also lowered its fiscal-year earnings and revenue guidance.
Zogenix Inc. (ZGNX) said the U.S. Food and Drug Administration
notified the drug developer that an action letter on the company's
new drug application for its extended-release Zohydro painkiller
could follow after another short delay.
Write to Lauren Pollock at lauren.pollock@wsj.com
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