Companies whose shares are expected to trade actively in today’s session are Adobe Systems Incorporated (NASDAQ:ADBE), New Mountain Finance Corp. (NYSE:NMFC), Maxwell Technologies Inc. (NASDAQ:MXWL), Erickson Air-Crane Inc (NASDAQ:EAC), Williams-Sonoma, Inc. (NYSE:WSM) and Francesca’s Holdings Corp (NASDAQ:FRAN).
Adobe Systems Incorporated (NASDAQ:ADBE): The software company’s first quarter profits plunged 65 percent due to higher expenses. But its subscription for creative and marketing services grew better than expectations. Adjusted earnings topped the company’s own expectations. Shares rose 5.60 percent to $43.02 in early trading.
In his first-quarter letter to investors of Greenlight Capital, David Einhorn lashed out at regulators. He claimed that the market is "fractured and possibly in the process of breaking completely." Q1 2021 hedge fund letters, conferences and more Einhorn claimed that many market participants and policymakers have effectively succeeded in "defunding the regulators." He pointed Read More
New Mountain Finance Corp. (NYSE:NMFC): The management investment company has begun to offer 2 million shares. A shareholder of the company, AIV Holdings Corp. has also put 4 million shares on sale. The company will use the proceeds to invest in portfolio firms, repay debts and for other corporate purposes. New Mountain will not receive any proceeds from the sale of AIV Holdings shares. The company has 24.4 million outstanding shares. Shares skidded 4.17 percent to $14.03 in the early session.
Maxwell Technologies Inc. (NASDAQ:MXWL): The energy and power development products maker’s accounting firm broke its tie-up with the company, saying that they don’t trust Maxwell’s management. Maxwell is unlikely to file its 2012 annual report by the deadline as it is about to restate the results. Shares plunged 9.81 percent to $6.71 in early market trading.
Erickson Air-Crane Inc (NASDAQ:EAC): The helicopter maker announced its plans to acquire Evergreen Helicopters Inc. which provides air transport services. The $250 million acquisition will help Erickson Air-Crane expand its global presence. Shares soared 13.23 percent to $16 in the early session.
Williams-Sonoma, Inc. (NYSE:WSM): The company’s fourth quarter profits soared 9.1 percent. Williams-Sonoma also announced the departure of its President Richard Harvey, who will leave the company May this year. The company board has increased its quarterly dividend by 41 percent to 31 cents, and gave a green signal to $750 million stock buyback program. Shares went up 5.77 percent to $47.82.
Francesca’s Holdings Corp (NASDAQ:FRAN): The retailer’s fourth quarter earnings jumped 78 percent and sales grew at double-digit rates. Earnings handily beat Wall Street estimates. Shares jumped 5.26 percent to $28.40 in early trading.