Wet Seal FIRES CEO and 3 Morning Hot Stocks Making Market Waves
Undeterred by the tragic Friday shooting in Denver, Warner Bros.‘ (NYSE:TWX) “The Dark Knight Rises” collected $161 million in one of the best opening weekends of all time, according to WSJ, though it was still off the initial estimate of $185 million before the shooting.
Halliburton’s (NYSE:HAL) Q2 operating margins slipped from 19.6 percent to 16.6 percent, as North American margins were pressured by short supply of guar beans; net profit is down 0.3 percent to $737 million, also reflecting higher fracking costs and pricing issues that somewhat countered the higher revenues realised from increased international drilling.
Genesee & Wyoming (NYSE:GWR), which owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands, is acquiring short-line and regional railroad operator RailAmerica (NYSE:RA) for $1.39 billion paying $27.50 per share. The price marks a 10.6 percent premium to RailAmerica’s Friday close.
Teen apparel chain Wet Seal (NASDAQ:WTSLA) fires CEO Susan McGalla with immediate effect and starts hunting for a new chief executive, even as it revises FQ2 guidance to a loss of $0.06-0.07 per diluted share vs. earlier guidance of $0.03-0.06 and a fall in same store sales by as much as 10-11 percent at the lower band of its earlier forecast.