Among the companies with shares expected to actively trade in
Wednesday's session are Frontline Ltd. (FRO, FRO.LN), Jos. A. Bank
Clothiers Inc. (JOSB) and Dycom Industries Inc. (DY).
Frontline's second-quarter loss narrowed amid one-time gains as
the oil tanker company's operating expenses also declined. Shares
slid 7.9% to $3.40 in premarket trading as results markedly missed
Wall Street expectations.
Jos. A. Bank's fiscal second-quarter profit climbed 13% as the
men's apparel retailer saw a double-digit revenue growth buoyed by
its direct marketing sales, although margins narrowed amid rising
input costs. Shares rose 11% to $46.30 in premarket trading as
results comfortably beat Wall Street expectations.
Dycom's fiscal fourth-quarter earnings rose 2.5%, but the
telecommunications contractor's results missed analyst
expectations. Shares fell 15% to $16.10 in premarket trading.
Under pressure from investors unhappy with the health insurer's
performance and direction, WellPoint Inc. (WLP) Chief Executive
Angela Braly resigned Tuesday, and the company's board said it
would begin a search for a permanent replacement. Shares rose 4% to
$59.70 premarket.
Fresh Market Inc.'s (TFM) fiscal second-quarter earnings jumped
27% as the specialty grocer continued its streak of strong
same-store sales growth, and also saw its margins widen. The
results beat Wall Street expectations and the company raised its
full-year outlook, sending shares 5% higher to $64.76
premarket.
Shares of online review site Yelp Inc. (YELP) fell 5% to $17.35
in premarket trading as 52.7 million shares will be freed up
Wednesday, marking the end of a 180-day lockup period for early
investors and insiders including Chairman Max Levchin and Chief
Executive Jeremy Stoppelman, according to a filing with the
Securities and Exchange Commission.
Joy Global Inc.'s (JOY) fiscal third-quarter earnings rose 12%
as the mining equipment maker's revenue and margins improved, but
bookings continued to decline. Shares fell 2.2% to $51.90 in
premarket trading as earnings missed Wall Street estimates and the
company trimmed its full-year earnings and revenue outlook. Joy
says weaker economic growth has slowed global demand for
commodities and recent output increases have created surpluses that
are depressing prices.
Genesco Inc. (GCO) swung to a fiscal second-quarter profit as
the seller of hats and footwear posted stronger sales and fewer
one-time charges. Shares rose 3.3% to $73.53 in premarket trading
as the company also unveiled a new stock repurchase authorization
and raised its outlook for the fiscal year.
Oppenheimer boosted its rating on Angie's List Inc. (ANGI) to
outperform from perform citing beliefs that the online review site
can deliver multi-year EBITDA growth even if consumer marketing
slows, and that volatility should ease now that time has passed
since its lock-up expiration Aug. 14. Shares rose 4.8% to $9.46
premarket.
Chile's Sociedad Quimica y Minera de Chile S.A. (SQM, SQM-B.SN),
which produces specialty fertilizers, second-quarter earnings rose
45%, sending shares 2.4% higher to $61.40 premarket as results beat
expectations.
Watch list:
Standard & Poor's Ratings Services placed Costco Wholesale
Corp. (COST) on review for a potential upgrade, citing the
wholesale-club operator's strong profitability and debt-reduction
efforts.
A ruling on how much Morgan Stanley (MS) will pay Citigroup Inc.
(C) to increase its stake in their Morgan Stanley Smith Barney
wealth-management venture will be delayed until Sept. 10.
H.J. Heinz Co.'s (HNZ) fiscal first-quarter earnings rose 14% as
the company benefited from reduced overhead expenses, improved
margins and a lower effective tax rate, though negative currency
impacts masked improvement in sales volume and pricing. The
packaged-food company's earnings beat expectations.
Sealed Air Corp.'s (SEE) Chief Executive William V. Hickey plans
to retire from the plastic-packaging company in March, and Dow
Chemical Co. (DOW) veteran Jerome A. Peribere was named as his
successor.
Spectrum Pharmaceuticals Inc. (SPPI) said the Federal Trade
Commission has cleared its acquisition of Allos Therapeutics Inc.
(ALTH), a deal that will boost the company's hematology
franchise.
Standard & Poor's Ratings Services placed its credit ratings
for Washington Post Co. (WPO) on watch for a possible downgrade,
noting the deterioration at the company's higher education and
newspaper divisions is expected to continue.
Write to Anna Prior at anna.prior@dowjones.com
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