Companies whose shares are expected to trade actively in today’s session are Cliffs Natural Resources Inc (NYSE:CLF), Access Midstream Partners LP (NYSE:ACMP), SAIC, Inc. (NYSE:SAI), Biomed Realty Trust Inc (NYSE:BMR), Landec Corporation (NASDAQ:LNDC) and Francesca’s Holdings Corp (NASDAQ:FRAN).
Cliffs Natural Resources Inc (NYSE:CLF): The mining and natural resources company’s shares continue to fall as Credit Suisse and Morgan Stanley both slashed their price targets for the company. Credit Suisse analysts said that the company is going through structural changes in its Great Lakes market, and these changes will hamper the company’s earnings potential. Shares slipped 13.11 percent to $18.62 in the early session.
Michele Ragazzi's Giano Capital returned 1.9% for March, taking the fund's year-to-date performance to 1.7%. Since its inception, Ragazzi's flagship fund has produced a compound annual return of 7.8%. According to a copy of the €10 million fund's March update, a copy of which ValueWalk has been able to review, Giano's most significant investment at Read More
Access Midstream Partners LP (NYSE:ACMP): The energy company announced to put 9 million units on sale. Proceeds will be used to repay debts and for other corporate purposes. Before the offering Access had 97.4 million outstanding units. Unit prices fell 3.40 percent to $39.85 in early trading.
SAIC, Inc. (NYSE:SAI): The government-services contractor swung to a fourth quarter profit due to strong revenues growth. The company was hit by provisions in the same period last year. Earnings were better than analysts’ estimates, and the company issued a special $1 cash dividend per share. Prices surged 4.29 percent to $13.37 in the early session.
Biomed Realty Trust Inc (NYSE:BMR): The real estate investment fund announced to offer 15 million shares. Proceeds will be used to finance the pending purchase of Wexford Science & Technology LLC. The remaining amount will be used for other corporate purposes, to pay off debts and improve working capital. Shares skidded 1.26 percent to $21.53.
Landec Corporation (NASDAQ:LNDC): The food-packaging product maker’s third quarter earnings were almost flat due to higher costs and other charges. Though revenues grew marginally. The company issued downbeat guidance for the fourth quarter as bad weather in Florida would negatively affect its earnings. Shares were down 5.57 percent to $12.60 in the early session.
Francesca’s Holdings Corp (NASDAQ:FRAN): The retailer announced that some of its shareholders, including private equity firm CCMP Capital are offering 7.4 million shares. As of March 1, the company had 43.9 million shares outstanding. Shares fell 5.08 percent to $28.62 in the early session.