Among the companies with shares expected to actively trade in Friday's session are Ulta Salon Cosmetics & Fragrance Inc. (ULTA), Bank of America Corp. (BAC) and Great Lakes Dredge & Dock Corp. (GLDD).
Ulta Salon's fiscal fourth-quarter net rose 39% as the beauty-products retailer continued to record strong sales gains from its new and existing stores. But shares fell 12% premarket to $77.63 as the company's first-quarter forecast fell short of Wall Street expectations.
A number of big U.S. banks Thursday unveiled plans for dividends and stock buybacks following the latest round of the Federal Reserve's stress tests. In all, 14 of the 18 largest U.S. banks received unconditional approval from the Fed for their plans to distribute capital to shareholders as part of the second step in the central bank's annual stress test of the biggest banks. Among the largest U.S. banks, Bank of America said its board approved the repurchase of $5 billion of its shares and the redemption of about $5.5 billion in preferred stock. Bank of America's shares were up 3.8% to $12.57 premarket. Two companies, Ally Financial Inc. and BB&T Corp. (BBT) had their plans rejected. BB&T's shares slid 3.3% to $30.70.
Great Lakes has restated its second-quarter and third-quarter results after the company found instances in its demolition segment where revenue was incorrectly recognized for those periods. Shares tumbled 32% to $6.10 premarket as Great Lakes also reported fourth-quarter earnings that sharply missed analyst expectations.
Aeropostale Inc. (ARO) forecast a surprise loss for the current quarter as it reported a fiscal fourth-quarter loss amid higher impairment charges and weaker sales during its critical holiday selling season. The youth-focused apparel retailer's shares slid 5.6% to $13.70 premarket.
A federal jury in Texas sided Thursday with Cisco Systems Inc. (CSCO) in a patent-infringement case brought by VirnetX Holding Corp. (VHC). The verdict dealt a serious blow to VirnetX, a company that uses its patent portfolio to seek revenue from licensing fees or court judgements. VirnetX shares closed down 28% to $25.75 Thursday, erasing more than $500 million of market value. Shares recently fell an additional 5.4% to $24.35 in premarket trading.
Jefferies upgraded ARM Holdings PLC (ARMH, ARM.LN) to buy from hold, saying the U.K.-based microchip designer remains well-positioned for the mid to long term, given rising royalty rates and record licensing, among other things. Overall, Jefferies said it expects earnings growth to continue largely unperturbed through 2013-2016. American depositary shares rose 4.2% to $43.53 premarket.
Zogenix Inc. (ZGNX) reported a narrower-than-expected fourth-quarter loss sending shares of the drug developer up 12% to $2.10 premarket.
CenterPoint Energy Inc. (CNP), OGE Energy Corp. (OGE) and ArcLight Capital Partners LLC are combining their pipeline and related assets into a partnership, a move that would give them a fresh source of capital as they seek to take advantage of booming demand for shipping oil and natural gas. CenterPoint shares jumped 6.7% to $23.30 in light premarket trading.
Krispy Kreme Doughnuts Inc.'s (KKD) fiscal fourth-quarter profit fell 97% from a year ago, when the doughnut chain posted a substantial gain related to income taxes. Revenue and same-store sales showed continued improvement in the results released Thursday. However, shares fell 5.4% premarket to $14.14, after the company missed adjusted earnings expectations.
TherapeuticsMD Inc. (TXMD) said its previously announced $50 million stock offering priced at $1.70 a share for roughly 29.4 million shares. The company recently had about 99.8 million shares outstanding, according to FactSet. Shares fell 22% to $1.80 premarket.
Angie's List Inc. (ANGI) said Robert R. Millard will step down as finance chief at the end of the quarter.