Among the companies with shares expected to actively trade in Friday's session are Darden Restaurants Inc. ( DRI ),
Goodyear Tire & Rubber Co. ( GT ) and Apple Inc. ( AAPL ).
Darden's fiscal first-quarter earnings fell a worse-than-expected 37% as food, beverage and labor costs continued to
rise and the company's biggest chain, Olive Garden, posted a significant drop in same-restaurant sales. Darden also said
it plans to cut its annual operating support spending by about $50 million through workforce reductions and program
spending cuts. Shares dropped 5.6% to $46.55 premarket.
Goodyear announced plans to restore its dividend, after flirting with record-low stock prices, closing plants,
shedding jobs, selling off business units and contending with striking workers. The largest U.S.-based tire producer
will pay a 5 cent per share common stock dividend effective Dec. 1. The last time Goodyear paid a dividend was in
December 2002. Shares climbed 4.9% to $23.32 in light premarket trading.
Apple began sales of its latest iPhones, hoping for strong demand to allay concerns about the company's position in
the smartphone market. IPhone sales kicked off across Asia and Europe on Friday morning, with initial demand tilted
heavily toward the higher end of the two models Apple is rolling out. Shares edged up 1.6% to $479.62.
Tibco Software Inc.'s ( TIBX ) fiscal third-quarter profit slid 19% as a sharp increase in restructuring costs and
weaker margins more than offset the cloud-platform provider's better-than-expected revenue growth. Adjusted profit for
the quarter also topped expectations, sending shares up 8.1% to $27.30 premarket.
Cyclacel Pharmaceuticals Inc. ( CYCC ) said one of its treatments undergoing tests has shown positive results against
ovarian cancer, including against tumors resistant to therapy. Shares were up 36% to $5.16 premarket.
AK Steel Holding Corp. ( AKS ) expects to report a steeper-than-expected third-quarter loss, as the steelmaker projected
shipment and prices below year-earlier levels and incurred costs tied to a blast furnace outage. Shares fell 11% to $
GlaxoSmithKline PLC (GSK) and Prosensa Holding NV ( RNA ) said their treatment for Duchenne muscular dystrophy didn't
meet its primary endpoint in a Phase III study. The drug, drisapersen, is currently in late stage development for DMD, a
rare and fatal muscular disorder. Prosensa shares plummeted 77% to $5.50 in premarket trading.
A block of J.C. Penney Co. ( JCP ) shares formerly owned by Vornado Realty Trust Inc. (VNO) fetched $13.10 a share late
Thursday, according to a person familiar with the matter, a slim discount to the shares' latest close. Shares rose 1.9%
to $13.39 premarket.
BASF SE (BAS.XE) agreed to acquire biotechnology company Verenium Corp. ( VRNM ) for about $51 million, or $4 a share, a
59% premium over Thursday's close. Chemical company BASF said combining Verenium's scientific and technological services
with its enzyme activities will strengthen its footprint in the strategic enzyme growth market. Verenium shares surged
premarket to match the offer price.
JinkoSolar Holding Co. ( JKS ) said its boosted offering of 3.8 million American depositary shares priced at $16.25 per
ADS, a mere 1.4% discount to Thursday's close. The Chinese solar-product maker had said earlier this week that it
intended to offer 3.5 million ADSs. JinkoSolar climbed 3.8% to $17.10 premarket.
Dry-cargo vessel operator Navios Maritime Partners L.P. ( NMM ) plans to offer five million units representing limited
partnership interests in a public offering. Shares slid 6.8% to $13.92 premarket.
NGL Energy Partners LP ( NGL ) unveiled plans to offer 4.1 million units representing limited partner interests. The
company, which operates in the water services and crude-oil logistics businesses, among others, intends to use the
proceeds to repay debt taken on from recent acquisitions. Shares were off 4.5% to $32.20 in light premarket trading.
Baltic Trading Ltd. ( BALT ) said it has commenced a public offering of common stock and plans to use net proceeds from
the offering for future vessel acquisitions, working capital and general corporate purposes. Shares fell 8.8% to $4.65
Cintas Corp.'s ( CTAS ) fiscal first-quarter earnings rose 1.3% as the supplier of uniforms and restroom supplies posted
higher revenue amid tighter margins. The company also raised its full-year earnings guidance.
Consolidated Edison Inc. ( ED ) said President and Chief Executive Kevin Burke will retire at the end of 2013, leaving
the utility company after a 40-year run. Mr. Burke, 62 years old, had served in those roles since 2005. He will be
succeeded by colleague John McAvoy, who most recently led ConEd's Orange and Rockland Utilities Inc. subsidiary, a
division Mr. Burke also oversaw.
New York Times Co. ( NYT ) will restore a dividend payment to company shareholders that was eliminated four years ago,
putting to use cash raised through a string of recent divestitures. The Times Co. board of directors approved a dividend
payment of four cents per share to holders of Class A and Class B stock, to be paid Oct. 24.
NextEra Energy Inc. ( NEE ) agreed to sell $500 million of its equity units to Citigroup Inc. (C), Morgan Stanley (MS)
and Credit Suisse Group AG (CS), with the power company planning to add the proceeds to the general fund of NextEra
Energy Capital Holdings Inc.
Aviation-equipment supplier Rockwell Collins Inc. ( COL ) provided 2014 earnings and revenue guidance below analyst
expectations, noting its government system sales will be hurt by sequestration impacts.
Texas Instruments Inc. ( TXN ) raised its quarterly dividend by 7.1%, marking the chip maker's second dividend increase
of 2013. The company said that with both dividend hikes, it has raised its quarterly payout to shareholders by 43% this
Tire maker Titan International Inc. ( TWI ) on Thursday said it is withdrawing its guidance on full-year revenue and
earnings before interest, taxes, depreciation and amortization--more than three months after the company said it planned
to cut its view.
Write to Lauren Pollock at firstname.lastname@example.org
Corrections & Amplifications
This item was corrected at 9:43 a.m. EDT because the original misspelled Prosensa's name.
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