Stocks to Watch: Walgreen, Time Warner, Sprint

Video: Wed., Aug 6: Time Warner Among Stocks to Watch

Among the companies with shares expected to actively trade in Wednesday’s session are Walgreen Co.(WAG), Time Warner Inc.(TWX) and Sprint Corp.(S)

Walgreen said it would buy the remaining 55% of Alliance Boots GmbH() (AB.YY) that it doesn’t already own, while the drugstore chain confirmed it would keep its headquarters in the U.S. Shares slumped 14.2% to $59.30 in premarket trading.

Time Warner said its second-quarter earnings rose 10% as its revenue grew behind a surge in results at HBO and Turner. On Tuesday, 21st Century Fox Inc.(FOXA) abandoned its takeover pursuit of Time Warner, citing Time Warner’s unwillingness to “engage with us” and a sharp drop in Fox’s stock price. Time Warner’s shares sank 13.1% to $74 premarket, while Fox shares rose 5.4% to $33.

Sprint Corp. on Tuesday decided to end its pursuit of T-Mobile US Inc.(TMUS) in the face of stiff opposition from regulators and replace Chief Executive Dan Hesse with Marcelo Claure. Meanwhile, Iliad S.A.(ILD.FR) said it plans to push ahead with its offer for T-Mobile. Sprint shares dropped 17% to $6.04 premarket. T-Mobile shares fell 8.6% to $31.

Viacom Inc.(VIAB) said its fiscal third-quarter earnings fell 5.1% as a revenue decline in the company’s filmed entertainment business dragged down the top line, while its media networks unit logged tepid growth. Shares were inactive premarket.

Apollo Global Management LLC's(APO) second-quarter profit widely missed Wall Street expectations, as the private-equity firm hauled in less money cashing out on deals. Shares lost 3% to $25.12 premarket.

Cytori Therapeutics Inc.(CYTX) on Tuesday said it is putting a clinical hold on enrollment in two chronic-heart-failure clinical trials, citing safety concerns. Shares sank 32.9% to $1.41 premarket.

Dish Network Corp.(DISH) swung to a second-quarter profit as the satellite-television provider reported stronger revenue and narrower pay-TV subscriber losses. Shares ticked up slightly to $62.35 premarket.

Parker Hannifin Corp.(PH) said its fiscal fourth-quarter earnings rose 11% on higher results in its diversified industrial segment as the company continued its restructure efforts.

Mondalez International Inc. said its second-quarter earnings rose 3.5% as the food maker’s lower expenses offset a slight revenue decline. The company also lowered its full-year revenue outlook.

AOL Inc.(AOL) said its second-quarter profit edged down 1%, as higher costs masked a notable increase in advertising revenue from the Internet pioneer.

Spectra Energy Corp.(SE) said its second-quarter profit fell 26%, reporting weaker-than-expected results as plant turnarounds dented revenue growth and increased costs.

Devon Energy Corp.(DVN) reported stronger second-quarter earnings, excluding items, as the company’s revenue was boosted by production growth in high-margin oil, as well as higher prices.