Among the companies with shares expected to actively trade in Wednesday’s session are Tesla Motors Inc.(TSLA) Humana Inc.(HUM) and Hospira Inc.(HSP)
Electric car maker Tesla Motors Inc. reported a narrower third-quarter net loss of $38 million and said it plans to expand production of its Model S sedans to meet rising demand in the U.S. and overseas. Though adjusted profit and revenue beat expectations, shares fell 11% to $157.25 in premarket trading as some had hoped for a bigger beat. The stock, meanwhile, has surged this year.
Humana’s third-quarter earnings fell 14% as the Medicare-focused insurer logged an increase in health-care and operating expenses, though membership continued to increase. Results beat expectations, but the company issued downbeat earnings guidance for 2014. Shares dropped 4.2% to $90 premarket.
Hospira’s third-quarter earnings rose 58% as the provider of injectable drugs and infusion technologies reported improved margins and higher sales for its Precedex sedative. Shares jumped 7.4% to $42.96 in light premarket trading as results topped Wall Street estimates.
Time Warner Inc.(TWX)'s third-quarter earnings jumped 44% as the media company’s cost cutting and asset gains helped make up for essentially flat revenue. The bottom line easily topped expectations, but the company kept its guidance for the year intact. Shares rose 2.2% to $69.75 premarket.
Abercrombie & Fitch Co.(ANF) appears to be in for a blue Christmas as the teen-apparel retailer reported a double-digit drop in sales for the fiscal-third quarter and expects the same for the upcoming holiday period. In premarket trading, the stock dropped 6.7% to $35.75.
BioTelemetry Inc.'s(BEAT) third-quarter loss narrowed slightly as the wireless medical technology company logged volume growth in its patient services segment, in part due to its contract with UnitedHealth Group Inc.(UNH) Shares jumped 12% to $10.12 premarket as the company reported a surprise adjusted profit.
Chesapeake Energy Corp.(CHK) swung to a profit in the third quarter as the natural-gas company posted improved oil and natural gas liquids production and a decrease in expenses. Revenue beat estimates, pushing shares up 2.9% to $28.95 premarket.
Devon Energy Corp.(DVN) swung to a third-quarter profit as the exploration and production company reported improved prices for oil and gas sold, helping push revenue significantly higher. The bottom line beat estimates, pushing shares up 1.6% to $64.79 in light premarket trading.
M/A-COM Technology Solutions Holdings Inc.(MTSI) agreed to acquire semiconductor manufacturer Mindspeed Technologies Inc.(MSPD) in a deal valued at $272 million, expanding the company’s markets to include enterprise applications. Mindspeed shares surged 70% to $5.04 premarket.
Molson Coors Brewing Co.'s(TAP) third-quarter earnings fell 39% as the beer company’s results were hurt by a write-down tied to two European brands and revenue weakened slightly. Results were mixed as the bottom line beat views and the top line missed. Shares edged up 1.8% to $55 in light premarket trading.
Skin-health company PhotoMedex Inc.(PHMD) issued a dour third-quarter report as it didn’t log any consumer sales to its Japanese distributor, which changed its business model and affected other companies besides PhotoMedex. Unless it generates revenue from Japan, the company’s current-quarter sales are poised to fall short of consensus views. Shares dropped 10% to $11.47 premarket.
Renewable Energy Group Inc.(REGI) swung to a third-quarter profit due to strong sales of biodiesel, news that sent shares sharply higher as the results easily exceeded Wall Street’s expectations. The strong earnings report pushed shares up 14% to $13.45 in premarket trading.
Shares of Tangoe Inc.(TNGO) slipped after the software and services provider issued weak outlook targets for the fourth quarter and trimmed full-year expectations. Tangoe’s stock slid 13% to $16.50 premarket. Investors appeared to ignore the company’s third-quarter results, as profit more than doubled on rising revenue and gross margins.
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