Pre Market Movers

Source 

“WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Thursday’s session are Ruby Tuesday Inc., Meru Networks Inc. and Bed Bath & Beyond Inc.

CarMax Inc. KMX +0.84% , Constellation Brands Inc. STZ +0.78% , WD-40 Co. WDFC -0.80% , Schnitzer Steel Industries Inc. SCHN -2.83% , AZZ Inc. AZZ -1.86%  and SemiLEDS Corp.LEDS +1.02%  are the featured companies on Thursday’s earnings calendar.

Standard & Poor’s said Cinemark Holdings Inc. CNK +5.14%  will take the place of NstarNST -1.00%  in the S&P MidCap 400 index after the close of trading April 9. Nstar and merger partner Northeast Utilities NU -0.83%  said they have received final approval, from Massachusetts regulators, for their transaction. The companies have set a closing date of April 10.

Meru Networks MERU +4.73% , citing business challenges that have proved “greater than expected,” said results for the first quarter ended March 31 will come in lower than forecast. The Sunnyvale, Calif.-based wireless technology company now projects quarterly revenue in a range of $19.0 million to $19.5 million. Meru is taking steps to limit growth in expenses and enhance productivity, according to Bami Bastani, president and chief executive, who began working in the post in a full-time capacity on Monday.

Nearly two years to the day after the tragedy, Alpha Natural Resources Inc. ANR +0.48% said the Upper Big Branch coal mine in West Virginia will be permanently closed. An explosion at the mine, owned at the time by Massey Energy Co., left 29 miners dead. Work on sealing off the mine is expected to be completed this summer, according to Bristol, Va.-based Alpha Natural, which acquired the mine property via its 2011 purchase of Massey Energy. “We are currently making significant safety-related investments in leading-edge technologies that will make coal mines safer throughout the industry,” said Kevin Crutchfield, CEO of Alpha Natural, in a statement.

Dick’s Sporting Goods Inc. DKS +0.10%  closed on the acquisition of the Top-Flite brand, including intellectual property rights, from Callaway Golf Co. ELY -2.02% , the companies said. Term were not disclosed. The deal means “we’ve added a strong, highly recognized name to our portfolio while gaining a valuable competitive advantage in the golf market,” said Edward Stack, chairman and CEO of the Pittsburgh-based Dick’s chain. Callaway said the disposal is in keeping with management’s plans for a business restructuring aimed at lowering costs and heightening focus on the Carlsbad, Calif.-based company’s core units.

Carmike Cinemas Inc. CKEC +0.21%  has commenced a secondary public offering of common stock, in the amount of 4 million shares. The Columbus, Ga.-based company said it plans to use net proceeds for general corporate purposes. Underwriters will have a 30-day option to buy up to 600,000 additional shares to satisfy investor demand if warranted.

Underwriters fully exercised their option to buy additional shares of Enphase Energy Inc.ENPH -2.49%  following the company’s initial public offering last week. As a result, Petaluma, Calif.-based Enphase said it sold more than 10.3 million common shares at a price of $6 each, yielding net proceeds of about $54.6 million.

Wednesday earnings recap

Bed Bath & Beyond BBBY +4.18%  reported a net profit of $351 million, or $1.48 a share, for the fourth quarter ended Feb. 25, up from $283.5 million, or $1.12 a share, earned in the final three months of fiscal 2011. Quarterly revenue generated by the Union, N.J.-based retailer of housewares reached $2.73 billion from the prior year’s $2.5 billion, chalking up growth in same-store sales of 6.8%. In a survey by FactSet Research, the consensus of analysts had been for a profit of $1.33 a share on $2.66 billion in revenue. Looking ahead to the first quarter, Bed Bath & Beyond pegged earnings in a range of 79 cents to 83 cents a share, with profit for the full fiscal year projected to increase at percentage pace in a range from the high single digits to the low double digits.  Read more on Bed Bath & Beyond’s results and outlook.“