Among the companies whose shares are expected to actively trade
in Friday's session are Research In Motion Ltd. (RIMM), Cablevision
Systems Corp. (CVC) and ISTA Pharmaceuticals Inc. (ISTA).
Research In Motion said its fiscal third-quarter earnings fell
71% after taking a $485 million, pretax, mostly noncash charge
related to unsold PlayBook tablets. The company's quarterly
earnings topped forecasts, but shares tumbled 11% to $13.54 in
recent premarket trading as revenue slightly missed expectations
and it gave downbeat fourth-quarter guidance.
Cablevision Systems said Chief Operating Officer Tom Rutledge
will resign, ending his nearly 10-year tenure at the fifth-largest
U.S. cable company. Shares dropped 9.1% to $12.66 in recent
premarket trading.
Valeant Pharmaceuticals International Inc. (VRX) is proposing to
acquire Irvine, Calif.-based ISTA Pharmaceuticals, a pharmaceutical
company with eye-care and allergy drugs, for $6.50 a share in cash,
a premium of about 67% over ISTA's closing price Thursday. ISTA's
shares surged 64% to $6.37 in recent premarket trading.
Accenture PLC's (ACN) fiscal first-quarter earnings rose 18%,
continuing a streak of better-than-expected results, as each of the
consulting and outsourcing company's five business segments
reported double-digit revenue growth. But the consulting company
lowered its full-year earnings forecast to reflect revised
expectations for the effect of foreign-exchange rates. Shares
slipped 1.3% to $55.40 premarket.
Adobe Systems Inc.'s (ADBE) fiscal fourth-quarter earnings fell
35% on restructuring charges, but the software company's adjusted
profit returned to growth on higher sales. Shares climbed 3.2% to
$27.30 premarket.
Frontline Ltd. (FRO, FRO.LN) said it has raised $285 million in
proceeds from the private placement of 100 million new ordinary
shares to a group of institutional investors as part of its
restructuring plan to create a new company Frontline 2012. Shares
slipped 3.4% to $3.37 in premarket trading as the shipping company
said it can't guarantee at this stage that the restructuring can be
successfully completed by its target date of Dec. 31.
Spreadtrum Communications Inc. (SPRD) received approval to
repurchase up to $50 million of its American depositary shares,
coming on the heels of another buyback plan unveiled earlier this
year. Shares rose 1% to $19.70 in light premarket trading.
Affymax Inc. (AFFY) said partner Takeda Pharmaceutical Co.
(TKPYY, 4502.TO) opted not to commercialize its anemia treatment in
Japan, deciding the product didn't fit with its strategic plans.
Affymax shares fell 4.2% to $6.92 premarket.
United Rentals (URI) agreed to buy RSC Holdings Inc. (RRR) in a
cash-and-stock deal valued at $1.87 billion that will expand the
equipment rental company's presence in North America and accelerate
its growth with industrial customers. United Rentals shares gained
5% to $27.34 premarket, and RSC surged 57% to $17.90.
AK Steel Holding Corp. (AKS) said it expects shipments and
selling prices to rise in the fourth quarter from a year earlier,
while operating costs are expected to fall from the previous
quarter. Shares gained 1.8% to $7.46 premarket.
Tilman Fertitta, owner of Landry's Restaurants Inc., agreed to
buy Morton's Restaurant Group Inc. (MRT) in a deal that values the
high-end steakhouse restaurant company at $116.6 million. Morton's
shares jumped 32% to $6.80 premarket.
Quiksilver Inc. (ZQK) swung to a profit in its fiscal fourth
quarter as a tax adjustment and improved revenue lifted the outdoor
sports outfitter's bottom-line results. Shares gained 6.2% to $3.26
in recent premarket trading.
StemCells Inc. (STEM) said it plans to sell more common stock
and warrants. The biomedical company disclosed a new offer to raise
funds for general corporate purposes, including product
development. Shares dropped 17% to $1.16 premarket.
Watch List:
AAR Corp.'s (AIR) fiscal second-quarter earnings rose 4.3% as
the aircraft-leasing-and-maintenance company posted double-digit
sales gains in its supply chain business.
Amgen Inc. (AMGN) Chairman and Chief Executive Kevin W. Sharer
said he will retire next year, prompting the company to tap Chief
Operating Officer Robert Bradway to steer it as its once-small
businesses mature.
Anadarko Petroleum Corp. (APC) disclosed plans to sell midstream
assets in Wyoming for $483 million to Western Gas Partners LP
(WES), a limited partnership formed by the oil-and-gas
explorer.
Spirits maker Beam Inc. (BEAM) said it has agreed to buy the
only remaining independent Irish whiskey distillery, Cooley
Distillery, for about $95 million, in a deal that marks the
company's entrance into one of the industry's fastest-growing
categories.
Centene Corp. (CNC) gave a mostly upbeat view for the coming new
year, as the Medicaid insurer also affirmed its 2011 view.
Electronics-components maker CTS Corp. (CTS) increased its
quarterly dividend a half a cent to 3 cents a share.
Darden Restaurants Inc.'s (DRI) fiscal second-quarter earnings
fell 28% on continued woes at the casual-dining company's Olive
Garden restaurant chain.
Deer Consumer Products Inc. (DEER) affirmed its full-year
guidance and said it remains on track to pay its quarterly dividend
in the wake of what it called "false market rumors by a distressed
online blogger" that sent its stock sharply lower at the end of
Thursday's trading session.
Flowserve Corp. (FLS) issued a 2012 earnings guidance range
largely below analysts' expectations, while the valve and pump
producer's board outlined a plan for returning earnings to
shareholders through dividends and share repurchases.
Heico Corp.'s (HEI, HEIA) fiscal fourth-quarter earnings rose
18%, helped by record high profit in its flight-support arm.
New York Times Co. (NYT) said Chief Executive Janet L. Robinson
would retire at the end of the year, and Chairman Arthur Sulzberger
Jr. would serve as interim CEO while the company searches for a
successor.
Activist investor Carl Icahn's slate of candidates for the
Oshkosh Corp. (OSK) board would support merging Oshkosh with truck
maker Navistar International Corp. (NAV), according to a regulatory
filing Thursday.
St. Jude Medical Inc. (STJ) said its November letter about
problems with some defibrillator wires was designated a Class I
voluntary recall by the FDA, but the medical-device maker did not
disclose any change in its instructions to doctors treating
patients already using the product.
Stewart Enterprises Inc.'s (STEI) fiscal fourth-quarter profit
fell 5.9% on a sharply higher tax rate though the
funeral-provider's funeral and cemetery segments benefited from
higher revenue.
United Technologies Corp. (UTX) predicted the addition of
Goodrich Corp. (GR) and the absence of share buybacks next year
would pressure earnings in 2012, though it expected profit would
grow excluding that takeover, despite revenue below analysts'
estimates.
Global payments company Western Union Co. (WU) will pay $220
million to the Internal Revenue Service and various state tax
authorities to resolve tax issues stemming from the restructuring
of its international operations in 2003.
YRC Worldwide Inc. (YRCWD) said it sold some of the assets of
its Glen Moore truckload unit to Celadon Group Inc. (CGI) as the
struggling company continues to streamlines its operations.
-Edited by Ian Thomson and Corrie Driebusch; write to
ian.thomson@dowjones.com and corrie.driebusch@dowjones.com
