Stocks to Watch: Protective Life, Tibco Software, Yingli Green Energy

June 5, 2014 by  
Filed under Green Energy News

Among the companies with shares expected to actively trade in Wednesday’s session are Protective Life Corp., Tibco Software Inc. and Yingli Green Energy Holding Co.

Ascena Retail Group Inc. is planning promotions to adjust its inventories ahead of the fall season, amid challenging sales trends that have continued into the apparel retailer’s current quarter. Shares dropped 5.2% to $15.55 premarket.

FuelCell Energy Inc.’s loss more than doubled in the fiscal second quarter on higher operating expenses and lower revenue. Shares dropped 14% to $2.04 premarket.

Leidos Holdings Inc. said fiscal first-quarter earnings slumped 52%, as revenue declined amid what the company described as a continued constrained federal funding environment. Shares dropped 3.5% to $36.61 premarket.

Pandora Media Inc. said listener hours and active listeners rose in May, as the online radio company increased its market share from a year earlier. Shares dropped 3.8% to $23.67 premarket as listener growth brings higher royalty costs for the songs it plays.

Dai-ichi Life Insurance Co. said it will acquire Alabama-based Protective Life for about $5.7 billion, the largest purchase of a foreign company by a Japanese life insurer. The deal is worth $70 a share in cash, a 34% premium over Protective Life’s closing stock price Friday. Shares surged 18% to $69.24 premarket.

Tibco Software cut its forecast for its fiscal second quarter, citing weak sales of its analytics software called Spotfire. Shares dropped 13% to $18.08 premarket.

Yingli Green said it will continue to fight a U.S. plan to close a loophole that allowed Chinese solar manufacturers to avoid tariffs by assembling their products outside China. Yingli shares dropped 6.4% to $2.76 premarket. Among the other Chinese solar stocks trading lower Wednesday are JinkoSolar Holding Co., Trina Solar Ltd. and JA Solar Holdings Co.

Align Technology Inc., maker of the Invisalign system used to straighten teeth, said the International Trade Commission on Monday stayed cease-and-desist orders against ClearCorrect pending an appeal.

A. Schulman Inc. agreed to buy a majority of Ferro Corp.’s specialty plastics business for $91 million in cash, an effort to expand its geographic footprint.

Brown-Forman Corp. said its fiscal fourth-quarter earnings jumped 17% as the Jack Daniel’s whiskey maker posted higher sales and wider margins. Earnings beat expectations.

HeartWare International Inc. said it received a warning letter from the U.S. Food and Drug Administration, citing concerns about procedures for validating device design and other issues.

Mattress Firm Holding Corp. said its fiscal first-quarter earnings fell 36% on higher costs that masked the bedding specialty retailer’s sales growth. The company raised its revenue forecast for the year.

NRG Yield Inc. confirmed it has agreed to pay $870 million to acquire the Alta Wind Energy Center, the largest wind farm in North America.

Rentrak Corp.’s revenue rose 40% with help from its television business revenue, but the box-office tracking and TV-ratings firm posted a slightly wider loss for its fiscal fourth quarter.

Stifel Financial Corp. agreed to buy Legg Mason Inc.’s investment-advisory and trust-services unit, which manages more than $9 billion in assets, the companies said. Terms of the deal weren’t disclosed.

UnitedHealth Group Inc. said its board has increased the health insurer’s quarterly dividend by 34% and renewed the company’s share repurchase program.

Walgreen Co. said its sales, excluding newly opened or closed stores, rose 4.4% in May, helped by increases in pharmacy prescriptions and basket size, though traffic declined slightly in the front of the store.

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