Among the companies with shares expected to actively trade in
Thursday's session are Groupon Inc. (GRPN), J.C. Penney Co. (JCP)
and BroadSoft Inc. (BSFT).
Groupon posted financial results Wednesday showing the firm's
core business of daily deals remains under pressure, as it produces
thin profit margins from its newer e-commerce service. The company
reported its fourth-quarter loss widened as revenue growth
continued to slow. Shares slumped 27% to $4.37 premarket.
J.C. Penney's fourth-quarter loss widened as the retailer's
sales and margins continued to weaken. Shares sank 17% to $17.54
premarket as results fell short of Wall Street estimates.
Telecom-software company BroadSoft gave downbeat 2013 guidance.
Mizuho, in a note to clients, said it was "more troubled by secular
declines in the consumer- and professional-services business,"
along with increased operating spending. "These headwinds will
deflate earnings power by about 30%, unraveling a key tenet of our
investment thesis," the investment bank said as it is one of
several that downgraded BroadSoft from buy-equivalent ratings.
Shares slumped 23% to $23.85 premarket.
Kohl's Corp.'s (KSS) fourth-quarter earnings fell 17% as the
department-store operator's margins were hurt by markdowns to clear
out inventory. Shares dropped 3.9% to $4.80 premarket as the
company guided for full-year per-share earnings below analysts'
estimates.
Molycorp Inc. (MCP) said it expects to file its fourth-quarter
and 2012 financial reports a couple of weeks late as the rare-earth
mining company determines the size of a goodwill write-down that it
anticipates will be substantial. Such reporting delays are often
not taken well by investors, and Molycorp shares slid 7.2% to $5.79
premarket.
Rentech Inc. (RTK) said it plans to cease operations at its
product demonstration unit in Commerce City, Colo. as the green
energy company focuses on more immediate growth opportunities
within the energy industry that do not rely on new technologies.
The move, which includes laying off 65 employees and contractors,
is expected to reduce expenses related to its research activities
from about $21 million in 2012 to about $10 million in 2013. Shares
rose 3% to $2.71 premarket.
CommonWealth REIT (CWH) said its upsized offering of 30 million
shares priced at $19 a share, a 16% discount to its Wednesday
closing price. CommonWealth reaffirmed plans to proceed with the
stock sale and debt-buyback offer, even as activist investors
Related Cos. and Corvex Management LP--which combined have a 9.8%
stake in the company--filed a lawsuit in Maryland state court to
block the move and suggested they are willing to raise their bid to
take over the company. Shares fell 4.5% to $21.50 premarket.
MGIC Investment Corp.'s (MTG) fourth-quarter loss widened as the
private-mortgage insurer's results were dragged down by a one-time
settlement charged involving Freddie Mac (FMCC) and as revenue
slid. Shares fell 14% to $2.40 premarket.
American Capital Agency Corp. (AGNC) plans to offer 50 million
shares as the real-estate investment trust looks to raise funds to
acquire additional agency securities and for general corporate
purposes. It had 338.9 million shares outstanding as of Jan. 31.
Shares were off 3.7% to $31.56 premarket.
Medical Properties Trust Inc. (MPW) intends to sell nine million
shares and will use proceeds to pay down debt and for general
corporate purposes, including investing in additional health-care
properties. The health-care REIT had 137.1 million shares
outstanding as of Feb. 18. Shares were down 3.1% to $14.21
premarket.
Watchlist:
AFC Enterprises Inc.'s (AFCE) fiscal fourth-quarter earnings
rose 51% as the restaurant operator posted stronger revenue across
its segments.
Assured Guaranty Ltd. (AGO) swung to a fourth-quarter profit as
the bond insurer recorded a smaller loss on credit derivatives.
Babcock & Wilcox Co. (BWC) swung to a fourth-quarter profit
as the power-plant technology company benefited from lower
pension-related effects and its power generation and nuclear
operations units posted revenue growth. Adjusted earnings and
revenue topped expectations, and the company projected 2013
per-share earnings that topped Wall Street estimates.
Chicago Bridge & Iron Co.'s (CBI) fourth-quarter earnings
rose 27% as the engineering and construction company saw sales
growth across its segments. Results also topped analysts'
expectations.
Oklahoma City-based Continental Resources Inc. (CLR) swung to a
fourth-quarter profit as the oil and natural-gas company's
production increased and as a loss on derivatives weighed on
year-ago results. Results beat analyst expectations.
Copart Inc.'s (CPRT) fiscal second-quarter earnings slipped 2.4%
as the car auctioneer recorded higher expenses, though revenue
continued to improve.
DCP Midstream Partners LP (DPM) has commenced an offering of
about 10.3 million units representing limited partner interests.
The energy company had 61.3 million units outstanding as of Feb.
22.
Del Frisco's Restaurant Group Inc. (DFRG) said an affiliate of
its largest shareholder, Lone Star Fund, is offering 4.8 million
shares. The steakhouse operator had 23.8 million shares outstanding
as of Feb. 22.
Greif Inc.'s (GEF, GEFB) fiscal first-quarter earnings rose 15%
as the packaging company posted lower restructuring expenses and
revenue improved.
Liberty Interactive Corp.'s (LINTA, LINTB) fourth-quarter
operating earnings fell 6.6% as its e-commerce business recorded a
loss, while Liberty Media Corp. (LMCA, LMCB) reported its operating
profit fell 91% as revenue declined.
Limited Brands Inc.'s (LTD) fiscal fourth-quarter earnings rose
14% as the retailer posted stronger revenue and margins. It offered
downbeat guidance for the new fiscal year and the fiscal first
quarter.
MarkWest Energy Partners LP (MWE) swung to a fourth-quarter
profit as the natural-gas processor's year-earlier results were
hurt by derivative losses and debt-redemption losses, while core
revenue declined.
MBIA Inc. (MBI) swung to a fourth-quarter profit as the bond
insurer posted net gains on insured credit derivatives, compared
with net losses a year earlier.
Monster Beverage Corp.'s (MNST) fourth-quarter earnings rose
5.3% as the energy-drink maker's revenue continued to improve,
though sales growth fell short of analyst expectations.
Morgan Stanley (MS) has agreed to sell the Europe, Middle East
and Asia-based portion of its global stock plan services business
to Computershare Ltd. (CMSQY, CPU.AU), as Morgan Stanley looks to
focus its stock plan services offerings on U.S.-based
companies.
Mylan Inc.'s (MYL) fourth-quarter earnings rose 25% as the
generics-drug maker reported revenue gains and unveiled plans to
acquire Agila Specialties Private Ltd. for $1.6 billion in cash,
strengthening its global injectables business.
Nordstrom Inc.'s (JWN) board has authorized up to $800 million
in additional share repurchases and also increased its quarterly
dividend by 11%, as the high-end shoe and apparel retailer looks to
boost shareholder returns.
Pall Corp.'s (PLL) fiscal second-quarter profit fell 9.4% as the
manufacturer of filtration and purification products posted a loss
from assets of the blood product line it sold last year, although
overall sales improved. Results beat analysts' expectations.
Pandora Media Inc. (P) said it will introduce a
40-hour-per-month limit on free mobile listening, as the Internet
radio company looks to manage rising royalty costs.
Prothena Corp. (PRTA) said the European Medicines Agency has
granted orphan designation for its treatment of diseases caused by
abnormal protein buildup.
Moody's Investors Service upgraded Rite Aid Corp.'s (RAD) credit
rating by four notches after the drug-store operator refinanced its
debt.
Riverbed Technology Inc.'s (RVBD) chief operating officer and
chief financial officer, Randy Gottfried, plans to retire in May,
and the networking company named former Lam Research Corp. (LRCX)
financial chief Ernie Maddock as its CFO starting at the end of
April.
Western Gas Partners LP (WES) has agreed to acquire interests in
gas-gathering systems from Anadarko Petroleum Corp. (APC) and
Chesapeake Energy Corp. (CHK) for a combined $623.5 million.
Whiting Petroleum Corp.'s (WLL) fourth-quarter income rose 30%
as the energy company benefited from stronger production and
derivatives gains, though prices for oil and natural gas fell.
Write to Anna Prior at anna.prior@dowjones.com
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