Among the companies with shares expected to actively trade in Wednesday’s session are Macy's Inc.(M), Health Management Associates Inc.(HMA) and Mast Therapeutics Inc.
Macy’s fiscal third-quarter earnings rose 22% as sales edged up and the department-store operator rebounded after posting disappointing results in the previous quarter. Shares of Macy’s, which affirmed its outlook for the fiscal year, rose as the results beat expectations and the company’s chief executive expressed optimism about the current quarter.
Health Management’s new board urged shareholders to approve the hospital operator’s roughly $3.9 billion deal to be acquired by peer Community Health Systems Inc.(CYH) after completing a review, and the company also reported swinging to a third-quarter loss.
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Mast Therapeutics Inc.(MSTX) said the U.S. Food and Drug Administration gave orphan-drug designation to its MST-188 drug for the treatment of acute limb ischemia, providing a boost for the biopharmaceutical firm. Shares surged.
Chelsea Therapeutics International Ltd.(CHTP) said an offering of 6.67 million shares priced at $3 each, a 9.9% discount to Tuesday’s close. The development-stage pharmaceutical company said it intends to use the proceeds to fund its droxidopa program, including regulatory and possible initial commercialization activity for its lead investigational drug candidate Northera, and for general corporate purposes. Shares dropped.
Perry Ellis International Inc.(PERY) cut its outlook for the fiscal year, citing weakness in its third quarter. The clothing company said revenue was hurt by reduced shipments, primarily due to the reduction of private-label business for the mid-tier channel, as well as reduced sales through its direct retail channel. Shares fell.
Safe Bulkers Inc.(SB) plans to offer 5 million shares and also unveiled plans to sell 1 million shares in a private placement to an entity associated with its chief executive at the public offering price. The drybulk shipping company has about 77 million shares outstanding. Shares dropped.
Synta Pharmaceuticals Corp.(SNTA) said it intends to offer an unspecified number of shares to the public. The biopharmaceutical company has about 69 million shares outstanding. Shares dropped.
xG Technology Inc.(XGTI) said an offering of 5.72 million of its shares priced at $1.75 each, a 13% discount to the wireless technology company’s previous close. Shares dropped.
YRC Worldwide Inc.(YRCW) swung to a third-quarter loss as the trucking company’s results were stung by driver shortages and higher expenses, offsetting higher revenue from the regional transportation segment. Shares slumped, as results for the period missed expectations.
Potbelly Corp.'s(PBPB) third-quarter profit slid 15% as higher expenses more than offset a jump in revenue–the first quarterly results the sandwich chain unveiled since debuting on the public market last month. Shares jumped, as Potbelly’s adjusted profit for the quarter exceeded expectations.
MagicJack VocalTec Ltd.(CALL) has repurchased $13 million in shares held by founder Daniel Borislow, who in turn agreed to end any further involvement with the beleaguered Internet-phone company’s operations. Investors cheered the news, sending shares up.
Sina Corp.'s(SINA) third-quarter profit more than doubled, while the Chinese Internet company’s social-media platform, Weibo, continued to post revenue growth. Shares of Sina rose as the company’s third-quarter earnings and fourth-quarter revenue guidance surpassed Wall Street expectations.
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