Companies whose shares are expected to see active trading in today’s session are hhgregg, Inc. (NYSE:HGG), Apple Inc. (NASDAQ:AAPL), Aurizon Mines Ltd. (NYSEAMEX:AZK), SunPower Corporation (NASDAQ:SPWR) and Harry Winston Diamond Corporation (NYSE:HWD).
hhgregg Inc. (NYSE:HGG): The electronics and appliances retailer forcasts weaker than expected third quarter earnings with 10 percent decline in the same-store sales. For the quarter ending December 31, the company expects 52 cents in earnings on the net sales of $799 million. Analysts polled by Thompson Reuters estimate $845 million in revenues, with 59 cents in earnings per share. The company has also lowered its full-year earnings forecast. Shares plunged 7.73 percent to $7.28 in early market trading.
Odey Asset Management's Special Situations Fund was down 3.2% in March, compared to its benchmark, the MSCI World USD Index, which was up 3.3%. Through the end of March, the fund is up 8.7%, beating the benchmark's return of 4.9%. Q1 2021 hedge fund letters, conferences and more Odey's Special Situations Fund deploys arbitrage and Read More
Apple Inc. (NASDAQ:AAPL): The iPhone maker has indicated a weaker-than-expected demand of iPhone 5. The company has therefore cut orders for the smartphone components. People familiar with the situation told the Wall Street Journal that, for January-March quarter, the company has reduced orders for iPhone 5 screens by almost 50 percent. Share prices fell 3.26 percent to $503.71.
Aurizon Mines Ltd. (NYSEAMEX:AZK): The company has received an unsolicited acquisition offer from Alamos Gold Inc. for $792 million in cash and shares. Alamos said that Aurizon shareholders can choose any option: $4.73 per share in cash or 0.2801 Alamos share for each share of Aurizon they hold. Aurizon prices surged 31.50 percent to $4.55
SunPower Corporation (NASDAQ:SPWR): The solar panel maker announced Friday that it will incur approximately $40 million in restructuring charges that will be booked in the fourth quarter. Shares tanked 4.64 percent to $7.81.
Harry Winston Diamond Corporation (NYSE:HWD): The company’s timepiece and luxury brand diamond division are being acquired by Swatch Group Inc. for $750 million plus $250 million of pro forma net debt. Swatch said the acquisition will boost its presence in the U.S. market. Harry Winston said it’s not selling its mining division, whose name will be changed to Dominion Diamond Corp. once the transaction is complete. Shares surged 8.30 percent to $15.66.