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U.S. Hot Stocks Futures: Hot Stocks to Watch
Among the companies with shares expected to actively trade in Tuesday's session are 3M Co. (MMM), Boeing Co. (BA) and Athersys Inc. (ATHX).
3M raised its quarterly dividend by 35%, as the company continued its effort to consistently boost its payouts to shareholders. 3M--whose products include Scotch tape, Nexcare bandages and Post-it Notes--is known as a reliable profit machine. Dividends have increased annually in each of the past 55 years. Shares rose 2.8% to $131 premarket.
Boeing said its board authorized a 50% increase to its regular dividend and $10 billion to repurchase its shares over the next two-to-three years, efforts to satisfy shareholders who have been hungry for the company to return some of its soaring earnings to investors. Shares edged up 2.3% to $137.86 premarket.
Athersys said its therapy to prevent a type of complication in patients receiving stem cell transplants was granted orphan drug status by European regulators. Shares surged 8.1% to $2.20 in premarket trading.
Vringo Inc. (VRNG) said a Germany court found that Chinese telecommunications firm ZTE Corp. (000063.SZ, 0763.HK, ZTCOY) infringed one of its European patents and is required to pay damages. Shares of the small mobile technology and intellectual-patent firm jumped 10% premarket to $3.40.
FuelCell Energy Inc.'s (FCEL) fiscal fourth-quarter loss narrowed as the power-equipment maker reported broad sales growth across all segments and wider gross margins. But the loss was still steeper than expected, sending shares down 11% to $1.65 premarket.
KKR & Co. (KKR) said it reached a deal to acquire KKR Financial Holdings LLC (KFN), bringing under its roof the separate, specialty-finance company managed by the private-equity firm that pursues debt investments and other bets. KKR, known for large debt-fueled corporate takeovers, signed an agreement to take over the sister firm in a $2.6 billion all-stock deal, the New York company said. Shares of KKR Financial jumped 28% to $12.12 in premarket trading.
Targacept Inc.'s (TRGT) investigational secondary treatment for schizophrenia didn't show significant improvement in negative symptoms or cognitive function in a Phase 2b trial after 24 weeks. The biopharmaceutical company said it wouldn't pursue further development of the therapy for the mental illness or for Alzheimer's Disease. Shares fell 31% to $4.09 premarket.
Shares of Rick's Cabaret International Inc. (RICK) jumped after the adult nightclub owner reported improving fiscal fourth-quarter results and projected better profitability in the new fiscal year. The stock jumped 14% to $12.23 premarket.
AT&T Inc. (T) agreed to sell its wireline business and statewide fiber network in Connecticut to Frontier Communications Corp. (FTR) for $2 billion as the telecommunications giant continues to focus more on its wireless business.
FactSet Research Systems Inc.'s (FDS) fiscal first-quarter profit rose 4.8% as an increase in its client count offset charges from the company's acquisition of a financial data service company. The company gave a cautious earnings view for the current quarter.
Honeywell International Inc. (HON) gave a cautious profit outlook for 2014, while the maker of aerospace, building control and safety products offered a revenue target that fell short of Wall Street's expectations.
Jefferies Group LLC's fiscal fourth-quarter earnings jumped 68% on strong investment banking revenue. Part of Leucadia National Corp. (LUK), it is often seen as something of a barometer for larger rivals Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS). Chief Executive Richard B. Handler said the company finished the year strongly and fixed income improved significantly from the third quarter.
Magellan Health Services (MGLN), which manages public-sector pharmacy benefits programs and other health-care services, offered a preliminary earnings forecast for next year that badly missed Wall Street expectations as share repurchases and the effect of the Affordable Care Act tax are seen hurting the bottom line, while its revenue estimate was stronger than expected.
M&T Bank Corp. (MTB) and Hudson City Bancorp Inc. (HCBK) said they expect additional delays in completing their merger deal, and any action isn't expected to occur until the latter half of 2014. "While all parties are disappointed that the transaction is delayed further, we are gratified that M&T continues to see the value in the Hudson City franchise," said Hudson City CEO Ronald E. Hermance Jr.
Sanderson Farms Inc.'s (SAFM) fiscal fourth-quarter earnings soared as the company continued to gain from a stronger poultry market, with chicken-breast prices improving and feed costs dropping. Earnings missed expectations, though the top line beat.
Starbucks Corp. (SBUX) said it expects record purchases and activations of its Starbucks Cards on Thursday, as the coffee company anticipates a reprise of last year's Thursday before Christmas, when more that 2 million of the cards were purchased in the U.S. and Canada.
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(END) Dow Jones Newswires 12-17-130914ET Copyright (c) 2013 Dow Jones & Company, Inc.