Among the companies with shares actively trading premarket
Wednesday are Staples Inc. (SPLS), Deere & Co. (DE) and JDS
Uniphase Corp. (JDSU).
Staples posted a 32% slump in profit in its latest quarter, hurt
by an unexpected downturn in North American sales trends and
continued sluggishness abroad. The nation's largest office supply
chain also lowered its full-year guidance, sending shares tumbling
13% to $11.69 in premarket trading.
Deere's fiscal third-quarter earnings rose a less-than-expected
11% as sales came under pressure from weaker international demand
and short-term manufacturing issues. Shares dropped 5% to $76.09 in
premarket trading after Deere also cut its view for the year.
Fellow machinery maker Caterpillar Inc. (CAT) also traded lower,
shedding 1.6% to $86.51.
JDS Uniphase swung to a fiscal fourth-quarter loss as the
broadband-products maker saw shrinking revenue from its core
business segments, and said its chief financial officer has
resigned. However, adjusted profits beat analyst estimates while
revenue topped the company's expectations. Shares rose 5.1% to
$11.21 premarket.
Physicians Formula Holdings Inc. (FACE) agreed to be taken
private in a deal valuing the cosmetics and skin care company at
roughly $58 million. The agreement with private-equity firm Swander
Pace Capital offers holders of the company's stock $4.25 a share, a
15% premium to its most recent close. Shares jumped 14% to $4.20 in
premarket trading.
Greif Inc. (GEF) cut its full-year earnings guidance, citing
lower than expected third-quarter volumes for its rigid industrial
packaging and flexible products businesses. Shares fell 5.3% to $41
premarket.
KIT digital Inc.'s (KITD) second-quarter loss widened sharply as
the video-management software company worked to undertake a
business transformation. Results missed analyst expectations.
Shares were off 6.7% to $2.80 premarket.
Canadian Solar Inc. (CSIQ) swung to a second-quarter loss as
lower selling prices continued to dampen results from the solar
panel and equipment maker. Shares tumbled 13% to $2.64
premarket.
Ellington Financial LLC (EFC) has commenced an offering of 3.5
million shares representing limited liability company interests.
The specialty finance company plans to use the proceeds to buy its
targeted assets, including prime and subprime mortgage-backed
securities. Shares were off 4.5% to $22.35 premarket.
TICC Capital Corp. (TICC) said it is offering 2 million shares
as the company seeks to raise money for general purposes, which may
include investing in corporate debt and equity, and in structured
finance vehicles. Shares of TICC Capital, which provides funding to
tech companies, slipped 2.6% to $9.65 premarket.
Watchlist:
American Apparel's second-quarter loss widened as a gain on the
change in the fair value of warrants and purchase rights boosted
the branded-apparel retailer's year-ago results, though revenue
improved.
Moody's Investors Service raised its outlook on American Water
Works Co. (AWK) to positive from stable, saying the utility company
has made considerable progress since it spun off from RWE AG
(RWEOY, RWE.XE) in 2008.
Bob Evans Farms Inc.'s (BOBE) fiscal first-quarter earnings fell
16% as the restaurant-chain operator saw restructuring and other
one-time costs, as well as softer margins, weaken results.
Jack Henry & Associates Inc.'s (JKHY) fiscal fourth-quarter
earnings increased 18% as the financial-services company's revenue
continued to strengthen.
New York Times Co. (NYT) said BBC Director-General Mark Thompson
will become its new president and chief executive.
Vail Resorts Inc. (MTN) said Chief Financial Officer Jeff Jones
plans to retire at the end of the year, and it will begin a search
for his replacement.
Write to Mia Lamar at mia.lamar@dowjones.com
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