June 25, 2014 / 12:12 PM / 3 years ago

BUZZ-U.S. Stocks on the Move-General Mills, CVR Refining, Apollo Education

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U.S. stock index futures were flat on Wednesday, following a sharp decline in the previous session, as investors looked ahead to a read on GDP expected to show the economy shrank in the first quarter: Dow Jones industrial average futures were down 0.06 percent at 16,742, S&P 500 futures were up 0.01 percent at 1,943.5 and Nasdaq 100 futures were down 0.07 percent at 3,792.

** APOLLO EDUCATION GROUP INC, Tuesday close $29.28, +2.29 pct premarket

The owner of the University of Phoenix, which has been struggling with falling enrollments and stricter regulation, is scheduled to report third-quarter results before market opens. Investors will be watching for comments from Apollo after its peer, Corinthian Colleges, said its ability to function as a going concern was uncertain without federal aid.

** GENERAL MILLS INC, Tuesday close $53.7, -3.17 pct premarket

The food manufacturer said quarterly net sales fell 2.8 percent to $4.41 billion, while sales in its U.S. branded goods retail business fell 1 percent to $2.4 billion

** CVR REFINING LP, Tuesday close $27.14, -6.23 pct premarket

The oil and gas refining company launched a public offering of 6 million common units - representing 4 percent of its total outstanding units.

The company said net proceeds of the offering will be used to redeem its common units from CVR Refining Holdings LLP.

** PENGROWTH ENERGY CORP, Tuesday close $6.79

The Canadian oil and gas explorer said proved and probable reserves at thermal oil Lindbergh project in east central Alberta rose 61 pct in the five months to end-May.

The company said additional proved reserves rose 24 percent adding that it expects first commercial bitumen production at Lindbergh to be achieved in first quarter of 2015.

** AERIE PHARMACEUTICALS INC, Tuesday close $21.03, +33.14 pct premarket

The drug developer said its single-drop eye treatment was shown to be superior to each of its two components in a mid-stage trial. The drug, Roclatan, is a combination of Aerie’s other experimental eye drug, Rhopressa, and a glaucoma medication called latanoprost.

** HARLEY-DAVIDSON INC, Tuesday close $70.66, -1.50 pct premarket

KeyBanc Capital Markets cut rating on the motorcycle-maker’s stock to “hold” from “buy”, saying motorcycle industry retail trends appear sluggish.

** HANESBRANDS INC, Tuesday close $88.54, +4.19 pct premarket

The underwear maker said it will buy Paris-based DBApparel from Sun Capital Partners Inc in a deal valuing the company at 400 million euros ($545 million) on an enterprise basis. The cash deal values DBApparel at about 7.5 times EBITDA, Hanesbrands said.

** PIONEER NATURAL RESOURCES CO, Tuesday close $221.65, +2.36 pct premarket

** ENTERPRISE PRODUCT PARTNERS LP, Tuesday close $76.11, +1.47 pct premarket

The Department of Commerce, which has come under growing pressure to ease restrictions amid a resurgence in domestic production, has given approval via a private ruling to Pioneer Natural Resources and Enterprise Product Partners to export a light oil called condensates.

** GOLAR LNG, Tuesday close $55.3, -1.81 pct premarket

The Norwegian shipping firm priced its offering of 11 million shares - representing 14 percent of total outstanding shares - at $54 each.

** MONSANTO CO, Tuesday close $120.63

The world’s largest seed company is scheduled to report third quarter results before the bell. It reported a higher-than-expected profit in the previous quarter with its corn business on track to post record volume for the fiscal year. The company had said it expected full-year earnings of $5-5.20 per share on an ongoing basis and $5.02-5.22 on a net basis. (Compiled by Amrutha Gayathri in Bangalore; Editing by Joyjeet Das)

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