Pre-Market Outlook; U.S. Equity Market (AVAV, AGN, AEO, PSS, FACT)
March 09, 2010 9:30 PM
According to Bloomberg, shares of the following companies may see unusual movements in trading on Wednesday.
Aerovironment, Inc. (NASDAQ: AVAV), maker of U.S. military spy planes, reported third-quarter profit of $0.30 per share. The company has reduced its sales forecast for 2010 to $240-$250 million.
Allergan, Inc.´s (NYSE: AGN) facial wrinkle-reducing Botox was approved by regulators in the U.S. for treating spasticity in the flexor muscles of the elbow, wrist, and fingers.
American Eagle Outfitters (NYSE: AEO), the U.S. clothing retailer, said that it plans to close its Martin + Osa concept, which includes 28 stores, and the online business. The company forecasts $29 million of non-cash, pretax impairment charges, and inventory write-downs.
Collective Brands, Inc. (NYSE: PSS), the Kansas-based owner of footwear chains, reported a fourth-quarter loss of $0.18 per share.
Facet Biotech Corporation (NASDAQ: FACT) surged by 67% in afterhours trading after Abbott Laboratories (NYSE: ABT) reached an agreement to buy the biotechnology company for $450 million, a 67% premium to Tuesday´s closing price. Abbott declined 1.1% to $54.21.
Micromet, Inc. (NASDAQ: MITI) fell 3.09% in afterhours trading to $7.84. The drug maker has offered to sell 10 million in common stock.
