Among the companies with shares expected to actively trade in Wednesday’s session are Kate Spade Co.(KATE), Deere(DE) & Co. and Fossil Group Inc.(FOSL)
Kate Spade said its first-quarter sales grew, driven by a surge in its core Kate Spade brand. The company posted a wider loss from continuing operations, however. Shares rose 3.2% to $35.76 premarket.
Deere & Co. said its fiscal second-quarter profit fell 9.5% as equipment sales slumped, but top- and bottom-line results still outpaced market expectations. Deere said it expects global agricultural-equipment sales to slip 4% in the current period, less than the 7% drop forecast by market analysts. Shares fell 1.2% to $92.50 premarket.
Fossil Group’s first-quarter earnings fell 8.2% as higher operating expenses more than offset sales growth. The watch and fashion accessories retailer’s forecast for the current quarter fell below analysts’ earnings expectations. Shares fell 6.7% to $103.94 premarket.
Coty Inc.(COTY) swung to a loss for the first three months of the year after the beauty-products maker posted a large write-down in its skin and body care segment. However, results beat expectations. Shares rose 1% to $15.60 premarket.
Gaming & Leisure Properties Inc.(GLPI) on Wednesday said it reached a deal to buy Pittsburgh-area Meadows Racetrack and Casino from Cannery Casino Resorts LLC for $465 million. Shares rose 1.1% to $35.35 premarket.
Macy's Inc.(M) said winter weather took a toll on business in the fiscal first quarter, weighing on the retailer’s sales. Revenue missed analysts’ expectations, while earnings topped them. The department-store operator, which reaffirmed its full-year sales and earnings guidance, also boosted its share-buyback plan by $1.5 billion and raised its dividend 25%. Shares rose 1.6% to $58.79 premarket.
Sears Holdings Corp.(SHLD) on Wednesday said it is exploring strategic options for its interest in Sears Canada(SCC.T), including a sale. Sears, which owns a 51% stake in Sears Canada, said it is looking into whether to sell its holdings or the operation as a whole. Shares rose 1.3% to $43.80 premarket.
Take-Two Interactive Software Inc.(TTWO) swung to a fourth-quarter loss on a drop of nearly 35% in revenue, but topped analyst expectations and pointed to steady sales of new videogame titles including “Grand Theft Auto.” Shares fell 3.4% to $19.93 premarket.
URS Corp.'s(URS) first-quarter earnings slumped 63% on a sharp drop in revenue related to some government contracts that the engineering company is winding down. Shares fell 7.1% to $43.85 premarket.
Anadarko Petroleum Corp.(APC) is boosting its quarterly dividend to 27 cents a share, from 18 cents a share, a move the company had forecast following the settlement of a long-running lawsuit.
Avago Technologies Ltd.(AVGO) plans to cut a “substantial number” of jobs across the company following its recently completed acquisition of LSI Corp., according to a filing with the Securities and Exchange Commission on Tuesday.
SeaWorld Entertainment Inc.(SEAS) is raising its yearly dividend to 84 cents a share, an increase of four cents a share.
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