U.S. Hot Stocks: Hot Stocks to Watch

Among the companies with shares expected to actively trade in Friday's session are Diamond Foods Inc. (DMND), Hertz Global Holdings Inc. (HTZ) and VeriFone Systems Inc. (PAY).

Diamond Foods posted a wider fiscal third-quarter loss, hurt by refinancing charges and weakness in its nuts segment. Diamond warned in March that higher tree nut costs would hurt results during the second half of the fiscal year. Its snack business, meanwhile, posted higher sales. Shares dropped 7.5% to $30.83 premarket.

Hertz said it would have to restate and correct results from the past three years, according to a regulatory filing that indicated more widespread accounting problems at the auto-rental company than had been thought. Shares declined 10% to $27.30 premarket.

VeriFone reported fiscal said it planned to cut 500 jobs by year's end amid a restructuring. Meanwhile, the maker of merchant-payment terminals reported second-quarter results that topped its own expectations as demand for its terminals rose. Shares edged up 2.6% to $34.70 premarket.

 
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American International Group Inc. (AIG) said its board approved the repurchase of up to an additional $2 billion in stock. The New York City financial services company, which has been focusing on global property-casualty insurance and U.S. retirement services, has a market capitalization of about $79.4 billion, according to FactSet.

Analogic Corp.'s (ALOG) fiscal third-quarter profit rose 50% as improved margins helped offset a decline in the electronics-component maker's revenue. The results were in line with the downbeat outlook the company offered last week.

Cooper Cos. (COO) posted stronger results for its fiscal second quarter, with market grains across its vision and surgical businesses. The results led the Pleasanton, Calif., global medical device company to again raise the lower end of its earnings projection for the year.

Coty Inc. (COTY) said Friday it will buy back $468 million in shares from affiliates of Berkshire Partners and Rhone Capital. As part of the agreement, Brad Bloom, managing director at Berkshire, and Steve Langman, managing director at Rhone, will resign from Coty's board, bringing the board to eight members.

Piedmont Natural Gas Co. (PNY) said its fiscal second-quarter profit rose 12% as the natural-gas distributor reported a significant jump in revenue despite higher gas costs. Results easily topped analysts' expectations.

Vail Resorts Inc. (MTN) posted a higher-than-expected 21% earnings increase for the fiscal third quarter, driven by strength at its Colorado resorts. The company raised its outlook for the year.

United Parcel Service Inc. (UPS) named Chief Operating Officer David Abney as its next chief executive, again promoting an insider to its highest post. Mr. Abney, who started with the shipping giant as a part-time package loader in 1974, will succeed Scott Davis.

Write to Maria Armental at [e-mail]

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