Tuesday, March 11, 2014

Stocks to Watch: American Eagle, Boyd Gaming, Dick's Sporting Goods

Among the companies with shares expected to actively trade in Tuesday’s session are American Eagle Outfitters Inc.(AEO), Boyd Gaming Corp.(BYD) and Dick's Sporting Goods Inc.(DKS)

American Eagle Outfitters said its fiscal fourth-quarter earnings dropped 89% as the teen retailer resorted to discounting to drive sales, hurting its margins. “The company’s results in 2013 were highly disappointing,” interim Chief Executive Jay Schottenstein said. “While tough macro conditions have persisted in our retail sector, our merchandise and overall customer experience fell short of expectations.” Shares dropped 6.4% to $13.30 premarket

Activist investor Elliott Associates LP disclosed a nearly 5% stake in Boyd Gaming in a regulatory filing, helping send the casino operator’s shares 14% higher to $13.56 in premarket trading.

Bon-Ton Stores Inc.(BONT) said Chief Executive and President Brendan L. Hoffman won’t renew his deal to keep leading the retailer when his contract expires in February 2015. Mr. Hoffman, who took over as CEO in February 2012 when he was 43 years old, will also resign his role as a director on the company’s board. He cited personal reasons for his decision. Shares declined 8% to $10 premarket.

Dick’s Sporting Goods said its fiscal fourth-quarter profit rose 6.9%, driven by a jump in sales, despite one less week in the period. The results topped expectations, but Dick’s earnings outlook for the current quarter came in below the consensus view. Shares edged up 1.2% to $55 premarket.

Fuel Tech Inc.(FTEK) said its revenue fell 9% in the fourth quarter, dragged down by declines in its air pollution control segment. Revenue and earnings fell short of market expectations. Shares dropped 18% to $5.65 premarket.

FuelCell Energy Inc.(FCEL) said its fiscal first-quarter loss narrowed as strong gains in product sales drove the power-equipment maker’s overall revenue higher. Shares surged 18% to $4.64 premarket.

La Jolla Pharmaceutical Co.(LJPC) touted positive Phase 2 trial results for a chronic liver-disease treatment, saying the results showed “significant improvement in kidney function.” Shares soared 78% to $19.45 premarket.

Myriad Genetics Inc.(MYGN) slid 9.9% to $34 premarket after saying that a Utah court denied its motion for a preliminary injunction against Ambry Genetics’ breast cancer tests. Several companies began selling BRCA genetic tests after the Supreme Court invalidated some of Myriad’s patents last summer. Myriad alleges that Ambry’s testing services infringe various other patent claims.

PowerSecure International Inc.(POWR) said its revenue soared 57% in the fourth quarter, driven by strong gains in its energy efficiency and utility infrastructure businesses. Shares climbed 12% to $25.80 in light premarket trading.

Urban Outfitters Inc.(URBN) said its fiscal fourth-quarter profit improved 7.4% as the clothing retailer posted a rise in sales, though the company’s namesake brand continued to struggle causing the retailer to issue a light warning about the current quarter’s performance. Shares dropped 4% to $36 premarket.

Casey's General Stores Inc.(CASY) said its fiscal third-quarter earnings fell 5.1% as the convenience-store operator reported higher costs, which offset an increase in revenue.

Helen of Troy Ltd.(HELE) said it expects to buy back about $246 million of its shares through a Dutch auction tender offer that allowed the personal-care company to repurchase up to $300 million in stock. The company, whose products include OXO kitchen tools and Brut After Shave, said it expects to acquire about 3.7 million shares at $66.50 a share, the high end of its offering range.

Jana Partners LLC on Monday said it is pleased with shareholder-friendly steps taken by Outerwall Inc.(OUTR) as the activist investor disclosed it has pared its stake in the operator of Redbox video-rental kiosks.

Post Holdings Inc.(POST) lowered its fiscal-year adjusted profit view, as the company flagged cereal-demand weakness but also said results would include contributions from some recent acquisitions.

Quest Diagnostics Inc.(DGX) agreed to buy Summit Health to expand its prevention and wellness business, following a string of recent acquisitions. Michigan-based Summit Health provides on-site prevention and wellness programs for employers, health plans, retail clinics and other organizations.

United Natural Foods Inc.'s(UNFI) fiscal second-quarter profit grew 24% as the specialty-food distributor reported strong sales growth as consumers continue to purchase more natural and organic foods.

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