American Apparel, Micron, MetLife, TiVo: U.S. Equity Preview
Shares of the following companies may have unusual moves in U.S. trading tomorrow. Stock symbols are in parentheses.
American Apparel Inc. (APP) : The young-adult clothing retailer said preliminary total net sales increased 14 percent to $41.4 million in January while same-store sales rose an estimated 11 percent in January from the same month a year ago. Wholesale net sales increased an estimated 21 percent in January.
Buffalo Wild Wings Inc. (BWLD) : The restaurant chain that features Buffalo-style chicken wings may decline more than 22 percent as the rising costs of chicken wings hurts its earnings, Barron’s said, citing estimates from Hedgeye Risk Management analyst Howard Penney.
Depomed Inc. (DEPO) : The drugmaker said it will get “modest, single-digit royalties” on net product sales of Merck & Co.’s (MRK US) type-2 diabetes Janumet XR until the expiration of the licensed patents.
Iconix Brand Group Inc. (ICON) (ICON US): Iconix Brand Group may be attractive if the economy improves and demand for clothing and jewelry expands, Barron’s reported in its “The Trader” column.
MetLife Inc. (MET) : The biggest U.S. life insurer may propose a dividend increase or share buyback this year as it exits the banking business and faces fewer regulatory limitations, Barron’s reported in its “The Trader” column.
Micron Technology Inc. (MU) : The largest U.S. maker of computer-memory chips appointed Mark Durcan as chief executive officer and director after CEO Steven R. Appleton died in a Feb. 3 airplane accident in Boise, Idaho.
TiVo Inc. (TIVO) : The digital-video recording pioneer may rise to $18 or higher as patent-lawsuit settlements boost income and its digital-recording technology attracts takeover bids, Barron’s reported.
Zogenix Inc. (ZGNX) : The specialty pharmaceutical company filed a plan to sell as much as $75 million of securities. Proceeds will be used to help fund the commercialization of its Sumavel DosePro and Zohydro drugs and develop new product candidates.
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