By Dow Jones Business News,
June 27, 2014, 08:43:00 AM EDT
Among the companies with shares expected to actively trade in Friday's session are DuPont Co. (DD), Finish Line Inc.
(FINL) and Manitowoc Co. (MTW).
Amedisys Inc. ( AMED ) projected a surprise profit for its second quarter, helped by its cost-cutting plans. Amedisys, a
hospice and at-home health-care company, had previously disclosed plans to close or consolidate care centers and general
and administrative expenses. Shares rose 8.2% to $14.55 premarket.
AZZ Inc.'s ( AZZ ) fiscal first quarter earnings edged up as sales grew more than expected, though the galvanizing
services segment recorded lower revenue from a year earlier. Shares climbed 4.7% to $44 in light premarket trading.
Anadigics Inc. ( ANAD ), a maker of radio frequency products for the wireless communications and broadband markets, will
cut about 30% of its work force as part of a plan to reduce fixed costs for its legacy mobile business. Shares dropped
12% to 92 cents in light premarket trading.
DuPont cut its earnings forecast for the year, pointing to a weaker-than-expected performance in its agriculture
business in the second quarter. Shares dropped 3.1% to $65.60 premarket.
Finish Line said its fiscal first-quarter profit more than doubled as sales and margins expanded, the latest example
of sporting-apparel chains outperforming other retailers. Shares rose 5.3% to $30.69 in premarket trading as the results
easily surpassed analysts' expectations.
Activist investor Relational Investors LLC disclosed an 8.5% stake in Manitowoc and called for the company to spin off
its foodservice-equipment business. Shares surged 9.3% to $32.47 premarket.
Nike Inc. (NKE) said its fiscal fourth-quarter earnings rose 5.4%, helped by the sporting-gear company's broad revenue
growth across almost all its main geographic markets. Shares edged up 2.6% to $78.87 premarket.
Bob Evans Farms Inc. ( BOBE ) said hedge fund Sandell Asset Management Corp. has spurned its efforts to avoid a proxy
fight and that it doesn't plan to expand the size of its board to accommodate the hedge fund.
Bristol-Myers Squibb Co. ( BMY ) said Friday that the European Medicines Agency'sCommittee for Medicinal Products for
Human Use granted positive opinions for the company's treatments for hepatitis C, and deep vein thrombosis and pulmonary
Citrix Systems Inc. (CTXS) said President and Chief Executive Mark B. Templeton will stay on in his current position
and won't retire as previously planned.
Commercial Metals Co. (CMC) said its fiscal third-quarter profit rose on seasonal constructional activity, but its
revenue remained flat. Results missed expectations.
Emerson Electric Co. (EMR) said it is considering strategic options for its power transmission solutions business,
including possibly adding or selling operations.
Expedia Inc. (EXPE) agreed to acquire Auto Escape Group from private-equity fund Montefiore Investment. Some members
of the European online car-rental reservation firm's management team will also join Expedia. Financial terms weren't
Hedge fund Sandell Asset Management Corp. pushed auto-parts company Meritor Inc. (MTOR) to use the proceeds of its
recent settlement pact with Eaton Corp. to return capital to shareholders through a Dutch auction tender offer.
Progress Software Corp.'s (PRGS) fiscal second-quarter profit rose sharply, thanks to lower costs, offsetting a drop
in software license revenue.
Gas and oil company QEP Resources Inc. (QEP) said its midstream business filed a registration statement for a
potential spinoff, although QEP continues to solicit and evaluate "proposals for alternative transactions."
United Therapeutics Corp. (UTHR) said its board has authorized $500 million in new share buybacks on the heels of its
previous repurchase plan.
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