Stocks that are expected to trade actively in U.S. markets on Thursday include: Facebook Inc (FB), Rite Aid Corporation (RAD), Barrick Gold Corporation (USA) (ABX), Newmont Mining Corp (NEM), Micron Technology, Inc. (MU), Ebix Inc (EBIX), Goldman Sachs Group Inc (GS), Jabil Circuit, Inc. (JBL), Annaly Capital Management, Inc. (NLY), Red Hat Inc (RHT), Wright Medical Group Inc (WMGI), SandRidge Energy Inc. (SD), Pier 1 Imports Inc (PIR) and Stratasys, Ltd. (SSYS).
Market Levels:
- US: Dow Futures: 14966.00 (-0.54%), S&P 500 Futures: 1612.20 (-0.71%), NASDAQ Futures: 2934.75 (-0.73%)
- Europe: CAC: 3737.77 (-2.65%), DAX: 7981.13 (-2.63%), FTSE: 6202.12 (-2.31%)
- Asia-Pacific: Australia: 4758.40 (-2.12%), China: 2084.02 (-2.85%), Hong Kong: 20382.87 (-2.96%), Japan: 13014.58 (-1.77%).
- Metals: Gold: 1302.80 (-5.18%), Silver: 20.08 (-7.11%), Copper: 3.08 (-1.80%)
- Energy: Crude Oil: 96.80 (-1.47%), Natural Gas: 3.90 (-1.69%)
- Commodities: Corn: 5.62 (3.44%), Soya Bean: 12.93 (1.24%), Wheat: 7.04 (2.63%)
- Currency: EUR/USD: 1.3210 (-0.64%), GBP/USD: 1.5473 (-0.07%), USD/JPY: 97.7000 (1.30%)
- 10-year US Treasury: 2.415% (0.063)
Micron Technology, Inc. (MU) reported third-quarter profit and sales that topped analysts’ estimates, as the company benefited from higher prices for its memory chips. The chipmaker posted earnings of 4 cents a share on sales of $2.32 billion, topping Street estimates for 2 cents a share on sales of $2.25 billion. Shares edged higher in early-hours trading.
Ebix Inc (EBIX), Goldman Sachs Group Inc (GS)
Insurance software provider Ebix Inc (EBIX) and an affiliate of Goldman Sachs Group Inc (GS) have agreed to cancel their planned merger after U.S. regulators started an investigation into allegations of intentional misconduct at Ebix. Ebix shares plunged 30 percent in early trade, after closing at $19.72 on the NASDAQ on Wednesday.
Jabil Circuit, Inc. (JBL)
The contract electronics maker posted better than expected third quarter results, but forecast current quarter earnings below estimates, sending shares lower in pre-open trading. Excluding one-time items, earnings came in at 56 cents a share, 2 cents above the average analysts’ estimate, on revenue of $4.47 billion that also edged past expectations $4.40 billion. For the current quarter, the company expects to earn between 50 cents and 58 cents a share, compared to analysts’ projections for earnings of 59 cents a share.
Annaly Capital Management, Inc. (NLY)
Annaly Capital Management, Inc. (NLY) cut its quarterly dividend by 11 percent to 40 cents a share from 45 cents a share. The dividend is payable July 29 to shareholders of record July 1. Earlier in the week, rival mortgage REIT American Capital Agency Corp. (AGNC) also slashed its quarterly dividend by 16 percent.
Red Hat Inc (RHT)
The software company reported better than expected first quarter profit, helped by a double-digit growth in subscription revenue. Excluding one-time items, earnings stood at 32 cents a share, edging past expectations by a penny a share. Revenue increased 15 percent to $363.3 million, also beating estimates of $360 million. Shares gained in early-hours trading.
Wright Medical Group Inc (WMGI)
Wright Medical Group Inc (WMGI) has agreed to sell its OrthoRecon hip and knee implants business to a unit of China’s MicroPort Scientific Corporation (HKG:0853) for $290 million in cash. The medical device maker said proceeds from the sale will be used to fund growth opportunities for its Extremities and Biologics business.
SandRidge Energy Inc. (SD)
The oil and natural gas producer said Chairman and CEO Tom Ward will leave the company, and named current CFO James Bennett as its new chief executive. SandRidge has been under intense pressure from activist investors led by TPG-Axon Capital to replace Ward. Shares rallied in early trade.
Pier 1 Imports Inc (PIR)
Pier 1 Imports Inc (PIR) said fiscal first-quarter earnings rose 14 percent, helped by stronger sales and higher margins. The home-furnishings retailer reported a profit of $20.3 million, or 19 cents a share, on sales of $394.9 million, for the quarter ended June 1. Analysts were expecting a profit of 19 cents and revenue of $395 million. In addition, the company raised its earnings outlook for the year, sending shares higher in early morning trade.
Stratasys, Ltd. (SSYS)
3D printer maker Stratasys, Ltd. (SSYS) has agreed to buy privately held MakerBot Industries LLC for about $403 million in an all-stock deal. Stratasys will issue about 4.8 million shares of its stock to MakerBot, the two companies said in a statement. Stratasys shares jumped 4 percent in pre-market trade following the announcement.
Economic Calendar for Thursday, June 20, 2013:
08:30 A.M. ET: Initial Jobless Claims (June 15)
08:30 A.M. ET: Continuing Jobless Claims (June 8)
08:58 A.M. ET: Markit Manufacturing PMI (June)
10:00 A.M. ET: Existing Home Sales Change (MoM) (May)
10:00 A.M. ET: Conference Board’s Leading Indicator (MoM) (May)
10:00 A.M. ET: Philadelphia Fed Manufacturing Survey (June)
10:30 A.M. ET: EIA Natural Gas Report (June 14)
04:30 P.M. ET: Fed Balance Sheet
04:30 P.M. ET: Money Supply
08:30 A.M. ET: Initial Jobless Claims (June 15)
08:30 A.M. ET: Continuing Jobless Claims (June 8)
08:58 A.M. ET: Markit Manufacturing PMI (June)
10:00 A.M. ET: Existing Home Sales Change (MoM) (May)
10:00 A.M. ET: Conference Board’s Leading Indicator (MoM) (May)
10:00 A.M. ET: Philadelphia Fed Manufacturing Survey (June)
10:30 A.M. ET: EIA Natural Gas Report (June 14)
04:30 P.M. ET: Fed Balance Sheet
04:30 P.M. ET: Money Supply