Stocks To Watch: PetSmart, Ciena, Semtech, Acura, James River, MGIC

Stocks To Watch: PetSmart, Ciena, Semtech, Acura, James River, MGIC
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Companies whose shares are expected to trade actively in today’s session are PetSmart, Inc. (NASDAQ:PETM), Ciena Corporation (NASDAQ:CIEN), Semtech Corporation (NASDAQ:SMTC), Acura Pharmaceuticals, Inc. (NASDAQ:ACUR), James River Coal Company (NASDAQ:JRCC) and MGIC Investment Corp. (NYSE:MTG).

Stocks To Watch: PetSmart, Ciena, Semtech, Acura, James River, MGIC

PetSmart, Inc. (NASDAQ:PETM): The pet supplies producer’s fourth quarter profits soared 31 percent amid continued growth in same-store sales and profit margins. However, the company issued pessimistic guidance for 2013. Shares tumbled 7.54 percent to $61.53 in early trading.

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Ciena Corporation (NASDAQ:CIEN): The communications and networking equipment manufacturer’s first quarter losses narrowed as the company posted better than expected revenues and margins. Excluding one-time charges, Ciena showed a surprising profit. Shares soared 14.79 percent to $17.15 in early market trading.

Semtech Corporation (NASDAQ:SMTC): The chip manufacturer’s fourth quarter profits rose 5.9 percent amid stronger revenues, though the company’s results were affected by higher costs. Semtech issued first quarter revenue guidance that handily topped Wall Street estimates. Shares rose 7.19 percent to $32.93 in early trading.

Acura Pharmaceuticals, Inc. (NASDAQ:ACUR): Acura is planning to offer common stock, debt securities and warrants totaling $75 million. The biotherapeutics firm will use the proceeds from the offering for general corporate purposes. Shares tumbled 9.36 percent to $2.42 in the early session.

James River Coal Company (NASDAQ:JRCC): The coal producer was badly hit by lower coal prices and a goodwill write-down. As a result, its fourth quarter losses widened. Earnings missed analysts’ expectations, and the company failed to provide any guidance for the current year as CEO Peter Socha said, “there are just too many moving pieces.” Shares tumbled 9.02 percent to $2.32 in early market trading.

MGIC Investment Corp. (NYSE:MTG): The company is offering 135 million shares priced at $5.15 each. The company is also issuing $350 million principal of senior notes due 2020. The offering is the first test for the company as sentiments improved recently. However, market is still skeptical as shares tumbled 8.20 percent to $5.15 in the early session.

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