McDonald's global same-store sales rose a smaller-than-expected 3.1% in May as growth in all regions fell short of Wall Street projections. Analysts at Morgan Stanley Research North America expected the fast-food chain to post a 4.1% increase. Shares were trading 1.84% lower at $79.65 premarket.
Ciena's fiscal second-quarter loss narrowed thanks to lower acquisition and integration-related costs as the networking-equipment company continued to post strong sales growth. However, the adjusted loss was more than analysts anticipated, and the company projected fiscal third-quarter revenue below expectations. Its shares were down 8.3% to $22.20 in recent premarket trading.
Ulta Salon's fiscal first-quarter profit jumped 71% as surging same-store sales and store growth boosted its top line and margins climbed. Shares were up 13% at $56 in premarket trading as the results handily topped the company's expectations.
Molycorp Inc. (MCP) detailed plans to sell 10 million shares of common stock and offer $200 million of convertible senior notes, with proceeds from the latter offering to be used to fund the rare-earth mining company's facility expansion. Shares of Molycorp, which has about 82 million shares outstanding, slid 3.8% to $56.46 in premarket trading.
Somaxon Pharmaceuticals Inc. (SOMX) and Canada-based Paladin Labs Inc. (PLDLF, PLB.T) agreed to a collaboration under which Paladin will have exclusive rights to commercialize Somaxon's insomnia drug in Canada, South America and Africa. Somaxon shares were up 16% at $2.67 in recent premarket trading.
Samsung Electronics Co. (005930.SE, SSNHY) has declined to comment on market speculation that it could be preparing a bid for ailing Finland-based handset maker Nokia Corp. (NOK). The speculation comes a week after Nokia described as unfounded and baseless a report that Microsoft Corp. (MSFT) wanted to buy the Finnish company, which has been rocked by a recent profit warning and downgrades from ratings agencies. Shares of Nokia, which also declined to comment on what it called rumors, fell 3.2% to $6.33 premarket.
International Game Technology (IGT) authorized the repurchase of up to $500 million in common stock, adding the gaming-machine maker to the growing list of companies opting to reward shareholders by tapping into cash stockpiles they have less need for in an improving economy. Shares were trading 1% higher at $16.26 premarket.
LDK Solar Co.'s (LDK) first-quarter profit soared, easily topping Wall Street's expectations, as the Chinese maker of solar wafers and modules reported higher shipments and improved margins. But LDK's American depositary shares fell 2.8%, to $6.90 in premarket trading, as it issued a weak revenue outlook for the current quarter.
Layne Christensen Co.'s (LAYN) fiscal first-quarter profit jumped 99% as revenue from its surging minerals exploration business and a gain from a California property sale lifted the bottom line. Shares gained 8.6% to $29.76 premarket as the results topped Wall Street expectations.
Cytori Therapeutics Inc.'s (CYTX) Celution system to treat heart attacks showed positive results in a long-term study compared with a placebo. Shares of the drug developer rose 8.1% to $5.50 premarket.
Oxford Industries Inc.'s (OXM) fiscal first-quarter profit grew 45% as the company's top line growth was driven by higher sales in the Tommy Bahama and Lanier Clothes brands, as well as the contribution of recently acquired Lilly Pulitzer. Shares rose 4.3% to $35.98 in premarket trading, as the adjusted bottom line exceeded the company's expectations and it lifted its full-year targets.
Analogic Corp.'s (ALOG) fiscal third-quarter earnings fell 11% on higher compensation expenses, without which the imaging-systems company's bottom line would have risen on better-than-expected revenue growth. Shares were up 1.3% at $50.97 premarket.
Hovnanian Enterprises Inc.'s (HOV) fiscal second-quarter loss widened as revenue fell more than expected amid a drop in orders and bigger land-related charges weighed on the bottom line. Shares were down 4.7% at $2.23 in premarket trading.
QuinStreet Inc. (QNST) Tuesday predicted weaker revenue in the coming fiscal year than analysts were expecting and said sales in the current and coming quarter would be flat. Shares in the online advertising company tumbled 23% to $11.25 premarket.
Odyssey Marine Exploration Inc. (OMEX) detailed plans Tuesday to offer at least 4 million shares of its common stock, as the company seeks to raise proceeds for shipwreck exploration and recovery projects. Shares of Odyssey, which locates and recovers shipwrecks and other objects lost at sea, slid 5.5% to $3.98 in premarket trading.
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ABM Industries Inc.'s (ABM) fiscal second-quarter earnings jumped 65%, with adjusted results above analysts' expectations, as the company reported broad revenue gains across all segments, led by engineering and parking services.
Standard & Poor's Ratings Services raised its rating on American Axle & manufacturing Holdings Inc. (AXL) Tuesday, saying a recovery in light-vehicle demand in North America and a lower cost structure have aided the auto supplier's credit measures.
Bob Evans Farms Inc.'s (BOBE) fiscal fourth-quarter earnings fell 12% as the latest results went up against a prior-year period with an extra week of sales, and the restaurant-chain operator's results were below expectations.
Comtech Telecommunications Corp. (CMTL) posted a 35% drop in fiscal third-quarter profit Tuesday as sales fell more than expected.
Lorillard Inc. (LO) named a former U.S. Food and Drug Administration analyst as its chief compliance officer and as an executive of product-related regulation, ahead of expected FDA comments about menthol-cigarette sales.
Merck & Co. (MRK) and Intercell AG (ICLL.VI) terminated a clinical trial of the V710 vaccine for Staphylococcus aureus infection over safety concerns at the recommendation of an independent data-monitoring committee. S. aureus is a leading cause of hospital-acquired infections.
MGIC Investment Corp.'s (MTG) inventory of delinquent loans fell in May, while the amount of new insurance written by the company grew.
Piedmont Natural Gas Co.'s (PNY) fiscal second-quarter profit edged up 1.3% as the regional distributor benefited from lower gas costs, which offset a double-digit drop in revenue.
Prudential Financial Inc. (PRU) unveiled a share-repurchase program Tuesday worth roughly 5% of its current market value.
United Continental Holdings Inc.'s (UAL) traffic data returned to decline in May on tightened capacity, although its estimate for a key measure of profitability jumped to its highest level since the merged company began reporting combined operating details.
Shuffle Master Inc.'s (SHFL) fiscal first-quarter earnings edged up 1% as the company's focus on leasing versus selling products helped its top line though weighed on margins.
SunPower Corp. (SPWRA) trimmed its full-year adjusted earnings outlook, as the U.S.-based solar-panel maker said changes to Italian solar policy this year has had a significant impact on the global market.
Verint Systems Inc.'s (VRNT) fiscal first-quarter loss narrowed sharply amid fewer charges and improved sales and margins. The adjusted bottom line topped analysts' expectations, and the company said it expects revenue growth for the current year at the upper end of its April forecast.
Waste Management Inc. (WM) said Chief Financial Officer Robert G. Simpson plans to retire by the end of September, while a search for his replacement has already begun. For the latest updates PRESS CTR + D or visit Stock Market news Today
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