BEFORE THE BELL -2: US HOT STOCKS TO WATCH

9th Jul 2010 13:20

Among the companies whose shares are expected to actively trade in Friday's session are Google Inc. (GOOG), Conceptus Inc. (CPTS) and Continental Resources Inc. (CLR). Google said Friday its Internet license has been renewed in China, and it looks "forward to continuing to provide web search and local products to our users in China." Google made the statement on its company blog, giving no further details. Chief Executive Eric Schmidt had said Thursday he expected the renewal, raising hope of uninterrupted operations after many months of uncertainty. Shares rose 4.4% to $476.56 in premarket trading. Meanwhile, China's competitor of Google, Baidu Inc. (BIDU) saw its American Depositary shares slide 5.9% to $68.26 as it had been rising on the hopes Google would leave. Conceptus lowered its second-quarter and full-year guidance, citing the weak economy--which has reduced visits to doctors--as well as the stronger dollar and company initiatives related to competitive trialing. Shares of the contraceptive developer sank 24% to $11.94 in premarket trading. Continental Resources raised its 2010 capital-spending forecast by 53% to accelerate its drilling and increase land positions in U.S. shale plays. The oil and natural-gas explorer also reached agreements to boost the maximum size of its credit facility to $2.5 billion from $750 million. Shares rose 3% to $45.90 in premarket trading. Lawson Software Inc.'s (LWSN) fiscal fourth-quarter earnings fell 30% as restructuring charges and other effects again obscured core-profit growth, better sales and improved margins. Shares fell 6.4% to $7.13 in premarket trading as the business-software maker gave a weak outlook. Big 5 Sporting Goods Corp. (BGFV) cut its second-quarter earnings guidance as it posted a surprise 0.5% drop in same-store sales, which it blamed on the sluggish economic recovery. Shares of the regional sporting-goods retailer slid 2.9% to $11.66 before the bell. Citigroup downgraded London's National Grid PLC (NGG, NG.LN) to hold from buy saying now the dust has settled on the surprise rights issue, three issues will determine the company's future: "the UK capex surge, how the capex/dividend is funded, and the likely strategic review of National Grid's US operations." The firm said the new UK government seems committed to the environmental targets it inherited and in response, National Grid has upped its capex. And unless the government policy changes, the capex is only likely to rise further, Citi added. The ADRs slid 3.2% to $37.36 in premarket trading. ScanSource Inc. (SCSC), a distributor of security devices, such as bar-code scanners and card readers, raised its fiscal fourth-quarter sales guidance, becoming yet another technology provider to see demand top expectations. Shares gained 8.5% to $27.23 in after-hours trading. Watch List Air Products & Chemicals Inc. (APD) said it is raising its offer for Airgas Inc. (ARG) from $60 a share to $63.50. The new price represents a 46% premium over Airgas's share price the day before Air Products launched a hostile takeover Feb. 4. Cemex SAB (CX, CEMEX.MX) said it has agreed to sell noncore facilities to Bluegrass Materials Co. for $90 million. The sale involves seven quarries, three distribution centers and a manufacturing plant in Kentucky that the Mexican cement and building-materials company got in its 2007 acquisition of Rinker Group. Regis Corp.'s (RGS) fiscal fourth-quarter revenue fell a bigger-than-expected 5.6%, the third-straight quarter the top line came in below analysts' expectations for the parent of haircut chains such as Supercuts. "The beauty salon segment of retailing is still experiencing the lengthening of time between customer visits," said Chairman and Chief Executive Paul Finkelstein. United Airlines parent UAL Corp. (UAUA) said a key measure of profitability surged in June, as the carrier joined the wide ranks of airlines reporting improved traffic, greater capacity and fuller planes. -By Dow Jones Newswires; write to [email protected] (END) Dow Jones Newswires July 09, 2010 08:20 ET (12:20 GMT)