NEW YORK ( TheStreet) -- Shares of Collective Brands (PSS) were plunging 16.6% to $15.32 in premarket trading Wednesday after the footwear retailer missed Wall Street's profit expectations by a wide margin.
California Pizza Kitchen (CPKI) was popping 12.5% to $18.80 after agreeing to sell itself to private-equity firm Golden Gate Capital for about $470 million, The Wall Street Journal reported.
Medical devices company Boston Scientific (BSX) was rising 3.3% to $6.89 after announcing that it has received approval from the U.S. Food and Drug Administration to market its 2.25 mm Promus Everolimus-Eluting Coronary Stent System for use in vessels as small as 2.25 mm in diameter. The stock has been upgraded to neutral from sell at Goldman Sachs.
Warehouse retailer Costco (COST) said third-quarter earnings rose 6% as net sales jumped 16% to $20.19 billion. Costco shares were falling 2.9% to $79.02.
Analog semiconductor company Avago Technologies (AVGO) was rising 2.7% to $32.56 after reporting second-quarter profit of 64 cents a share vs. the average analyst estimate of 60 cents a share.
Toll Brothers (TOL) was rising 2.6% to $20.80 after saying its second-quarter loss narrowed from a year earlier as the luxury homebuilder continues to see stability across its products.
Shares of Applied Materials (AMAT) were falling 2.4% to $13.38 after the chip equipment maker gave a below-consensus view for the July quarter, saying it sees a sequential decline of between 3% to 10% in net sales.
In a small step toward unwinding the government's significant stake in American International Group (AIG), the company and the U.S. Treasury priced an offering of 300 million of the insurer's common shares at $29 each, generating $8.7 billion in proceeds. Shares were down 2.4% to $28.74.
Meat company Hormel Foods (HRL) was down 1.7% to $29.50 after reporting second-quarter profit of 40 cents a share, in line with estimates.
The board of UnitedHealth (UNH) has approved the increase of the health care benefits company's quarterly dividend to 16.125 cents a share from 12.5 cents and renewed the company's share repurchase program, authorizing the purchase of 110 million shares over time. Shares were down 0.5% to $47.72.
Video game developer Take-Two Interactive (TTWO) posted a narrower-than-expected quarterly loss and said it has extended long-term employment agreements with key members of its Rockstar Games creative team while also inking a new management deal with ZelnickMedia. Shares were trading sideways at $16.11. >>Search for Highest Dividends by Rate or Yield
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