The stocks that are expected to trade actively in today’s session include, Boston Beer Co Inc. (NYSE:SAM), Harbinger Group Inc. (NYSE:HRG), Endo Health Solutions Inc. (NASDAQ:ENDP), Regal-Beloit Corp. (NYSE:RBC), The Pep Boys-Manny Moe & Jack’s (NYSE:PBY) and Platinum Underwriters Holdings Ltd. (NYSE:PTP).
Boston Beer Co Inc. (NYSE:SAM): The Sam Adams brewer has increased its earnings targets for 2012. The company said the depletion of products at wholesalers and distributors’ warehouses has been much higher than expected, and that resulted in stronger shipments. Boston Beer (NYSE:SAM) shares surged 12% to $128.50 in early hours of trading.
Harbinger Group Inc. (NYSE:HRG): The company announced that some of shareholders linked to Harbinger Capital Partners have decided to offer an undisclosed number of shares. Harbinger Capital Partners currently has a controlling stake in the holding company. Harbinger Group (NYSE:HRG) said it will not receive any proceeds from the secondary offering. The company’s shares declined 26% to $7.65 in early morning trading.
Regal-Beloit Corp. (NYSE:RBC): The electric motor maker is offering 2.75 million shares. The company said it will use proceeds for general purposes including acquisitions. Regal-Beloit (NYSE:RBC) has 41.8 million outstanding shares. The stock dipped 3.5% to $67.75 in this morning’s trading session.
Endo Health Solutions Inc. (NASDAQ:ENDP): The pharmaceutical company revealed that its president and chief executive David P. Holveck is retiring next year. Additionally, Endo Health Solutions Inc. (NASDAQ:ENDP) said it may not be able to meet the full-year earnings forecasts for 2012, and may also miss the 2013 prior guidance. Shares declined 5.8% to $26 in trading this morning.
The Pep Boys-Manny Moe & Jack’s (NYSE:PBY): CEO Mike Odell said Wednesday that the company board has approved a $50 million share repurchase program. The company thinks that its current stock price is heavily undervalued, so a share buyback program is a good investment of cash in hand. Shares are up 3.70% to $10.10 at the time of this writing.
Platinum Underwriters Holdings Ltd. (NYSE:PTP): The reinsurer estimates that its fourth quarter earnings will be negatively impacted by approximately $30 million due to catastrophe losses related to superstorm Sandy that hammered Northeastern United States in October. Shares are up 1.01% to $45.03 at the time of this writing.
