Among the companies with shares expected to actively trade in
Friday's session are Infosys Ltd. (INFY, 500209.BY), Wells Fargo
& Co.'s (WFC) and Walter Energy Inc. (WLT, WLT.T).
Infosys reported that its fiscal fourth-quarter net profit rose
3% from a year earlier but revenue came in below expectations. The
company blamed a "volatile" world for disappointing results and
said sales will grow at just 6% to 10% over the next 12 months,
well below industry forecasts. American depositary shares of the
India-based software exporter plunged 18% to $44.57 premarket.
Wells Fargo's first-quarter profit jumped 22%, topping Street
estimates, as the San Francisco bank reported stronger credit and
controlled expenses, although it logged lower mortgage-banking
income as mortgage originations and applications both fell. Shares
fell 1.5% to $36.95 premarket.
Walter Energy said its first-quarter performance has improved
from the previous quarter, mainly on higher metallurgical-coal
sales volume and pricing, increased production and lower costs.
Shares rose 6.6% to $25.70 premarket.
New York hedge fund Jana Partners LLC unveiled a major stake in
Ashland Inc. (ASH), saying it believes the specialty chemical
company's shares are undervalued. Shares rose 5.9% in premarket
trading to $83.50, after Jana disclosed its 7.4% stake in a filing
with the U.S. Securities and Exchange Commission.
Forest Oil Corp. (FST) announced the signing of a definitive
agreement with oilfield services company Schlumberger Ltd. (SLB)
for the future development of Forest's Eagle Ford Shale acreage in
Gonzales County, Texas. Shares of Forest Oil--which buys, explores,
develops, produces and markets natural gas and crude oil in North
America--rose 12% to $5.60 premarket.
Watchlist:
Fitch Ratings lowered its outlook on aluminum maker Alcoa Inc.'s
(AA) investment-grade rating, saying oversupply in the aluminum
market may pressure its earnings.
Chuy's Holdings Inc. (CHUY) said an offering of three million
shares sold by certain shareholders priced at a 3.4% discount to
the restaurant chain's Thursday closing price. The company said the
secondary offering priced at $33 a piece.
Durata Therapeutics Inc.'s (DRTX) offering of about 7.2 million
shares priced at a 3.8% discount to the drug company's Thursday
closing price. The shares priced at $7 each.
Harris Corp. (HRS) reported preliminary fiscal third-quarter
results that missed analysts' expectations and unveiled
restructuring plans that include job cuts, as uncertainty related
to government spending continues to weigh on the military
contractor's results. The company also lowered its full-year
estimates.
Ixia (XXIA) cut its first-quarter revenue view, after the
provider of Internet-protocol testing systems restated prior
results.
J.B. Hunt Transport Services Inc.'s (JBHT) first-quarter
earnings rose 8.4% as the trucking company reported stronger
revenue and volume at most of its business segments. However,
per-share earnings missed expectations.
LinkedIn Corp. (LNKD) has agreed to acquire mobile news reader
Pulse for $90 million, a deal that will help the professional
social network accelerate its mobile efforts.
SLM Corp. (SLM) has sold an interest in a student-loan
securitization, in a deal that will boost the company's
second-quarter earnings.
Weyerhaeuser Co.'s (WY) board approved an 18% increase in the
forest-product company's quarterly dividend.
Energy company Williams Partners LP (WPZ) said it will form a
joint venture with Royal Dutch Shell PLC (RDSA, RDSB) to provide
gas-gathering and gas-processing services for production located in
northwest Pennsylvania.
Write to Anna Prior at anna.prior@dowjones.com
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