U.S. Hot Stocks: Hot Stocks to Watch

Among the companies with shares expected to trade actively in Friday's session are Gap Inc. (GPS), Alliance Fiber Optic Products Inc. (AFOP), and DepoMed Inc. (DEPO).

Gap Inc. (GPS), which is trying to pay down debt as it deals with a sales slump, on Thursday reported sales declined further across brands in the latest period. The resulting higher inventory will pressure profit margin in the current quarter, the retailer said. Shares declined 6.9% to $25.76 premarket.

Corning Inc. (GLW) has made a $350 million offer, or $18.50 a share, for Alliance Fiber Optic Products Inc. (AFOP), a deal that would expand its presence in Asia and strengthen cloud data-center market position. Shares of Alliance Fiber Optic climbed 19% to $18.41 premarket.

Starboard Value LP is pushing DepoMed Inc. (DEPO) to consider selling itself, according to the latest missive by the activist investor, made public a day after it disclosed a 6.8% stake in the biopharmaceutical company. Shares of DepoMed rose 18% to $17.70.

Ruby Tuesday Inc. (RT) on Thursday sharply cut its financial projections for the year as its third-quarter loss widened more than fourfold. Shares fell 15% to $4.42 premarket.

Intercept Pharmaceuticals Inc. (ICPT) rose 0.6% to $164.50 in premarket trading Friday after an FDA panel recommended the approval of its liver-disease treatment.

U.S. health regulators have approved the use of Abiomed Inc.'s (ABMD) micro heart pumps in patients with a type of heart failure known as cardiogenic shock.

MGM Growth Properties LLC on Friday put a price range of $18 to $21 a share on its initial offering of stock, which could raise as much as $1.2 billion for the real-estate investment trust being created by casino operator MGM Resorts International (MGM).

Write to Jenny Roth at [e-mail] and Maria Armental at [e-mail]

(END) Dow Jones Newswires

April 08, 2016 09:40 ET (13:40 GMT)

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