• Home
• News Article

US Stock Futures: HOT STOCKS TO WATCH

Tuesday, Nov 01, 2011

Among the companies whose shares are expected to actively trade in Tuesday's session are Allstate Corp. (ALL), AvalonBay Communities Inc. (AVB) and Leap Wireless International Inc. (LEAP).

Allstate's third-quarter earnings fell 55% in another quarter with significant catastrophe losses, as the insurer's operating profit also declined but stayed out of the red. Shares in the country's largest publicly traded home and auto insurer were up 3.8% at $27.33 after hours Monday as the core profit drop was less than expected.

AvalonBay's third-quarter earnings rose 82% on higher rents, though the multifamily housing real estate investment trust's occupancy slipped. Shares fell 5% to $127.01 after hours as the company also lowered its full-year funds from operations estimate.

Leap Wireless's third-quarter loss narrowed from a year-earlier period that included a big impairment charge, as the prepaid mobile phone company grew its subscriber base and improved its churn. Shares jumped 9.4% to $7.60 after hours.

Exelixis Inc. (EXEL) said it plans to launch a phase 3 trial of its prostate cancer treatment this year without an agreement over certain guidelines with the U.S. Food and Drug Administration. Shares sank 34% to $5.09 after the drug developer said it did not reach a timely agreement with the FDA under a so-called special protocol assessment, a setback that lessens the treatment's chances for formal regulatory approval.

SM Energy Co.'s (SM) third-quarter profit soared as gains on certain asset sales helped lift the oil-and-natural-gas producer's bottom line. Shares still fell 7.1% to $77.01 as the profit result missed Wall Street expectations.

China XD Plastics Company Ltd. (CXDC) said it will restate financial reports spanning from 2009 to the first quarter of 2011 to correct certain earnings-per-share and cash-flow figures. Shares still jumped 7.1% to $4.67 after hours as the company released its preliminary third-quarter results.

Cavium Inc.'s (CAVM) third-quarter earnings rose 21% on double-digit revenue growth, though margins narrowed. Shares fell 8.2% to $30 after hours Monday as the microprocessor maker's earnings missed company estimates.

Rogers Corp.'s (ROG) third-quarter profit rose 62% as strong sales of touch-screens and mobile devices continued to drive sales in its high-performance foam division. Shares still slid 7.3% to $40 in after-hours trading as the specialty-materials maker's fourth-quarter outlook was below analysts' expectations.

Winn-Dixie Stores Inc.'s (WINN) fiscal first-quarter loss narrowed as the regional supermarket chain reported another quarter of same-store sales growth. Shares were up 8.4% at $6.87 after hours.

   Watch List: 
 

Payment-systems provider ACI Worldwide Inc. (ACIW) extended its tender offer for S1 Corp. (SONE) until the end of November amid a modest shareholder response.

Anadarko Petroleum Corp. (APC) posted a sharply wider third-quarter loss due to a $4 billion settlement with BP PLC ( BP , BP .LN) tied to last year's Gulf of Mexico oil spill, but core earnings improved as the company reported higher production.

Standard & Poor's Ratings Service lowered its outlook on Avon Products Inc. (AVP) to negative from stable, citing the cosmetic company's weaker-than-expected third-quarter operating results and credit metrics.

Boyd Gaming Corp. (BYD) and MGM Resorts International (MGM) separately entered agreements with an online-gaming company as the casino operators position themselves to enter the online-poker industry, if it is legalized in the U.S.

CC Media Holdings Inc.'s (CCMO) third-quarter loss narrowed on revenue growth, while sister company Clear Channel Outdoor Holdings Inc. (CCO) swung to a third-quarter profit from a year-earlier period that included a hefty charge and also reported revenue growth.

DirecTV Group Inc. (DTV) and News Corp.'s (NWSA, NWS.AU) Fox Networks said on Monday they had reached a deal for the satellite TV provider to continue broadcasting all Fox channels, ending a protracted standoff over the media company's fees.

FMC Corp.'s (FMC) third-quarter profit rose 4.7% as the chemicals company reported double-digit earnings growth for its agricultural products and industrial chemicals segments.

Genesis Energy L.P. (GEL) agreed to acquire interests in three Gulf of Mexico crude-oil pipeline systems from Marathon Oil Corp. (MRO) in a deal valued at $205.8 million, including an estimated $29 million of crude oil at current market prices.

Fitch Ratings lowered its investment-grade credit rating on Kellogg Co. (K) one notch, citing the cereal maker's elevated leverage compared with historical levels.

MDU Resources Group Inc.'s (MDU) third-quarter earnings rose 4.9% as the company recorded double-digit earnings growth in its exploration-and-production segment.

MetLife Inc. (MET) said President and Chief Executive Steven A. Kandarian will take on the added post of chairman, succeeding C. Robert Henrikson at the beginning of the year.

PartnerRe Ltd. (PRE) third-quarter earnings slid 66% as the reinsurer's net investment gains slimmed and its loss expenses increased more than net written premiums.

Post Properties Inc.'s (PPS) third-quarter profit fell 64% absent a large one-time gain a year earlier but posted stronger-than-expected funds from operations, a key profitability metric for real-estate investment trusts.

-Edited by Corrie Driebusch and Ian Thomson; write to corrie.driebusch@dowjones.com and ian.thomson@dowjones.com

(END) Dow Jones Newswires

November 01, 2011 06:09 ET (10:09 GMT)