Companies whose shares are expected to trade actively in today’s session are ConAgra Foods, Inc. (NYSE:CAG), Zynga Inc (NASDAQ:ZNGA), Magnum Hunter Resources Corp (NYSE:MHR), Global Payments Inc (NYSE:GPN), Obagi Medical Products, Inc. (NASDAQ:OMPI) and Newfield Exploration Co. (NYSE:NFX).
ConAgra Foods, Inc. (NYSE:CAG): The food company’s third quarter net income declined from $280.1 million to $120 million. Excluding one time expenses, earnings came at 55 cents, which was just below Wall Street’s average estimate of 56 cents per share. The company posted $3.85 billion in revenues, slightly lower than analysts’ estimate of $3.87 billion. ConAgra also announced a dividend of 25 cents a share. Shares were down 2.64 percent to $34.60 in the early session.
Zynga Inc (NASDAQ:ZNGA): The social gaming company announced its plans to launch real money gaming in the United Kingdom in partnership with Bwin.Party Digital Entertainment. The company is trying to diversify its revenue stream to lower its dependence on Facebook. Now the company is betting on online gambling market. Shares soared 10.42 percent to $3.39 in the early session.
Magnum Hunter Resources Corp (NYSE:MHR): Penn Virginia Corporation (NYSE:PVA) announced its plans to acquire Magnum Hunter’s entire Eagle Ford shale properties for $401 million as it plans to expand in high margin play. Shares rose 6.56 percent to $4.06 in early trading.
Global Payments Inc (NYSE:GPN): The credit card processor’s third quarter earnings rose 1 percent due to stronger revenues. But earnings fell short of Wall Street’s estimates. Shares plunged 6.39 percent to $45.88.
Obagi Medical Products, Inc. (NASDAQ:OMPI): Obagi has received a counter bid from Valeant Pharmaceuticals. Earlier, Valeant had offered to acquire Obagi for $345 million, but Merz Pharma Group proposed a higher bid of $385 million or $22 per share. Valeant has again raised its offer price by 22 percent from $345 million to $420 million. Obagi shares jumped 9.35 percent to $25.02.
Newfield Exploration Co. (NYSE:NFX): The oil and gas exploration company has made a big natural gas discovery in Malaysia. Newfield also announced to exit its international business. Shares surged 6.52 percent to $23.54 in the early session.
