A regional cola war could be in the making as Pepsi completes a distribution deal in Myanmar, weeks after Coca-Cola made clear its interest in the once-reclusive Southeast Asian nation. The WSJ's Patrick Barta gives Mariko Sanchanta the details.
Fusion-io Inc. FIO+27.78% shares rose 28%. The data-storage company said on Thursday that its revenue in the second quarter rose 82%.
Groupon Inc. GRPN+11.88% jumped 12% Friday, and could be on the move again in Monday’s action. The daily deals firm is slated to report its second-quarter results on Monday following the closing bell. In a note to clients on Friday, Morgan Stanley analyst Scott Devitt reiterated his bullish overweight rating on Groupon, writing that he expects “an in-line or better quarter” for the company.
Janus Capital Group Inc. JNS+10.01% shares rose 10%. The asset manager said it reached an agreement under which Japan’sDaiichii Life Insurance will buy up to a 20% stake in the company and invest $2 billion of its general account assets with the firm.
Research In Motion Ltd. RIMM+6.28% shares rose 6.3%. A California judge on Thursday overturned a jury finding that the BlackBerry maker had infringed the patents of Mformation Technologies Inc. Separately, Bloomberg News, citing unnamed sources, reported on Friday that International Business Machines Corp. IBM+0.44% has made an informal approach about potentially buying RIM’s enterprise-services unit.
Big Lots Inc. BIG-6.95% shares fell 7% after the retailer was downgraded from neutral to underweight by J.P. Morgan.
Codexis Inc. CDXS-21.29% shares fell 21% the day after the biochemical firm reported a wider quarterly loss, said that it expects partner Shell Oil to reduce certain collaborative funding next month and projected that pharmaceutical sales for 2012 will be largely flat.
Monster Beverage Corp. MNST-11.32% shares fell 11%. In a filing with the Securities and Exchange Commission, the company disclosed that that it has received a subpoena from an unnamed state attorney general regarding the “advertising, marketing, promotion, ingredients, usage and sale” of its energy drinks.
Supermarket chain Roundy’s Inc. RNDY-24.63% lowered its financial forecast late Thursday, citing an “increasingly price-conscious consumer and greater-than-anticipated pricing and promotional activity in several of our major markets.” The company’s shares fell 25%.
Spreadtrum Communications Inc. SPRD-11.73% shares fell 12%. The firm’s second-quarter profit dropped 36% as the chip maker logged heavy expenses, masking an increase in sales. The company’s revenue projections for the current quarter were lower than the expectations of most analysts polled by Thomson Reuters.
Internet equipment maker Ubiquiti Networks Inc. UBNT-41.97% shares fell 42%. The company warned late Thursday of the impact of counterfeit goods on demand as it issued weak guidance for the current period.
Yahoo Inc. YHOO-5.37% shares fell 5.4% after the company warned that it may not return all of the cash it gets from selling its stake in Alibaba to shareholders. It was also downgraded to neutral by Bank of America/Merrill Lynch.