By Dow Jones Business News,
January 08, 2014, 09:12:00 AM EDT
Among the companies with shares expected to actively trade in Wednesday's session are Container Store Group Inc.
(TCS), J.C. Penney Co. (JCP) and NuPathe Inc. (PATH).
Apollo Education Group Inc.'s ( APOL ) fiscal first-quarter profit fell 26% as the for-profit education company
continued to battle declining enrollments. Adjusted earnings topped analysts' expectations and the company raised its
outlook for the fiscal year, sending shares up 9.2% to $29.40 premarket.
AZZ Inc.'s ( AZZ ) fiscal third-quarter earnings climbed 20%, yet missed expectations, as a revenue boost from the
electrical and industrial products business and past acquisitions masked the negative effect of continued project
delays. The company lowered its outlook for the year, pushing shares down 4.3% to $44.91 premarket.
Constellation Brands Inc.'s (STZ, STZB) fiscal third-quarter income jumped 93%, with the wine and spirits maker
continuing to benefit from a major acquisition in the beer market. The results beat expectations, and the company again
raised its adjusted earnings outlook for the year. Shares climbed 6.4% to $74.38 premarket.
Container Store swung to a fiscal third-quarter loss as the storage and organization products retailer recorded
expenses related to the company's initial public offering, which masked higher sales. Sales growth for the latest period
and the company's top line projection for the full fiscal year were slightly under Wall Street's expectations. Shares
dropped 11% to $40.79 premarket.
J.C. Penney said it was pleased with its performance during the holiday season and it is seeing "continued progress"
in its turnaround effort. But shares declined 6.1% premarket to $7.65 as the company didn't offer any specific sales
figures in its short statement.
Micron Technology Inc. (MU) swung to a fiscal first-quarter profit on sharply higher revenue, which received a boost
from the chipmaker's acquisition of Elpida Memory Inc. last year. Adjusted earnings and revenue beat expectations,
sending shares up 9.8% to $23.85 premarket.
NuPathe said it received an offer from Teva Pharmaceutical Industries Ltd. (TEVA) to acquire the drugmaker for roughly
$114 million, or $3.65 a share, topping Endo Health Solutions Inc.'s (ENDP) pending deal. NuPathe shares surged 33% to $
Alliance Data Systems Corp. ( ADS ) said its board authorized a stock buyback program of up to $400 million this year,
replacing a plan that expired at the end of last year.
Medical-device maker ArthroCare Corp. ( ARTC ) said Tuesday it has entered into a deferred prosecution agreement to
resolve a years-long U.S. Department of Justice investigation into allegations of a $400 million securities fraud
Bristol-Myers Squibb Co. ( BMY ) said its investigational treatment for some types of hepatitis C in combination with
other agents will get an accelerated review by European regulators.
K12 Inc. (LRN) is planning to form a new company that will focus on technology-based learning programs and will be
spearheaded by K12 founder and Chief Executive Ron Packard, who has resigned from the online education provider.
Merge Healthcare Inc. (MRGE) said a former employee falsified millions of dollars worth of customer contracts in an
apparent attempt to reach sales quotas and garner about $250,000 in additional commissions. Merge offers health
stations, clinical trial software and other health data and analytics services meant to engage consumers in their
Monsanto Co.'s (MON) fiscal first-quarter earnings rose 8.6% with a boost from improved sales of its soybean and corn
seeds. Results beat expectations. Regarding the coming U.S. planting season, Monsanto said the pace of its U.S. order
book and strong pre-pays were tracking well with 2014 targets.
Sirius XM Holdings Inc. (SIRI) added more net subscribers in 2013 than previously expected, and the satellite-radio
provider struck a bullish tone about 2014 in comments that come as some investors bet Liberty Media Corp. (LMCA, LMCB)
will sweeten its bid for the company.
WellPoint Inc. (WLP) will sell contact-lens and eyewear retailer 1-800 Contacts Inc. to private-equity firm Thomas H.
Lee Partners, unloading a company it bought for around $900 million less than two years ago. The insurer also agreed to
sell the glasses.com website and its technology for helping people try on glasses virtually, which were part of the 1-
800 Contacts purchase, to Italian eyewear company Luxottica Group SpA.
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