Among the companies with shares expected to actively trade in
Thursday's session are Staples Inc. (SPLS), Office Depot Inc. (ODP)
and Ciena Corp. (CIEN).
Starboard Value LP has taken control of about 6% of Staples'
shares and boosted its position in Office Depot's to about 10%,
moves that could raise pressure for a combination of the
office-supply retailers. Staples shares rose 9.6% to $16.23. Office
Depot increased 10% to $7.43.
Ciena reported a surprise loss in the October quarter, as
revenue growth in its biggest network segment was unable to offset
expected hits from a supplier agreement with AT&T Inc. (T).
Ciena shares rose 6.1% to $18 premarket.
Top investors at Burlington Stores Inc. (BURL), Nielsen NV
(NLSN), Aramark Holdings Corp. (ARMK) and Mattress Firm Holding
Corp. (MFRM) outlined plans late Wednesday to offer shares in the
companies they helped take public. Burlington Stores shares edged
down to $43.78 premarket. Nielsen fell 2.4% to $42.70 and Mattress
Firm dropped 2.6% to $60.90. Aramark dropped 1.8% to $29.02.
KBR Inc. (KBR) plans to restructure its operations and divest or
exit some noncore segments following a strategic review as it aims
to reduce its operating costs. Shares rose 1.9% to $16
premarket.
Lululemon Athletica Inc. (LULU) posted earnings that beat
expectations for it November quarter, though the retailer gave a
disappointing outlook for the holiday quarter. Shares rose 7.1% to
$50 premarket.
Men's Wearhouse Inc. (MW) said its third-quarter profit fell 82%
on expenses related to its acquisition of rival Jos. A. Bank
Clothiers Inc. The Houston company also said it had decided against
selling its K&G chain, which accounts for 8% of sales, after
reviewing a number of offers. Shares fell 1% to $41.78
premarket.
RadioShack Corp. (RSH) on Thursday outlined a $400 million
cost-cutting plan it hopes will stanch a hemorrhage of cash, as the
struggling electronics chain tries to get through the holiday
season in good enough shape to trigger a rescue plan from its
lenders. Shares fell 5.6% to 52 cents premarket.
Restoration Hardware Holdings Inc. (RH) reported its quarterly
profit more than doubled as sales growth accelerated in the third
quarter, topping Wall Street expectations. Shares rose 8.3% to
$93.30 premarket.
Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) offered a
weaker-than-expected outlook for next year, citing increased
competition in its key generic-drug market. Shares rose 26 cents to
$56.65 premarket.
Walgreen Co. (WAG) said Chief Executive Greg Wasson plans to
retire after the drug-store chain's acquisition of the remaining
55% stake in Alliance Boots GmbH that it doesn't already own.
Shares rose 2% to $69.52 premarket.
Wet Seal Inc. (WTSL) warned it may file for bankruptcy
protection if the teen apparel retailer is unsuccessful in the very
near term in addressing its liquidity needs. Shares fell 47% to 15
cents premarket.
Watch list:
Advisory Board Co. (ABCO) agreed to acquire higher-education
marketing company Royall & Co. in a cash-and-stock deal valued
at roughly $850 million, adding student engagement and enrollment
capabilities to the company's offerings.
Armstrong World Industries Inc. (AWI) on Thursday said it will
exit its European flooring business and stop funding its DLW unit
after years of poor results and millions in operating losses,
pushing the unit to file for insolvency.
Casey's General Stores Inc. (CASY) said its quarterly earnings
rose 21% as lower gasoline prices contributed to increased sales of
merchandise as well as fuel.
Danaher Corp. (DHR) projected stronger-than-expected earnings
for the coming year. The health-care equipment makers also backed
its profit guidance for the current quarter.
Oxford Industries Inc. (OXM) swung to a loss in the third
quarter, and company officials offered a bleak forecast for the
year that ends Jan. 31, saying promotions and weak customer traffic
are expected to hurt results.
Renasant Corp. (RNST) agreed to acquire Heritage Financial Group
Inc. (HBOS) in all all-stock deal valued at $258 million, the
community banks said Wednesday.
Write to Maria Armental at maria.armental@wsj.com and Tess
Stynes at tess.stynes@wsj.com
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