Mediaboss Marketing

By Corrie Driebusch and Drew FitzGerald

Among the companies with shares expected to actively trade in Wednesdays session are J.C. Penney Co. (JCP), Abercrombie & Fitch Co. (ANF) and General Motors Co. (GM).

J.C. Penney Co. (JCP) swung to a loss in its fiscal first quarter as restructuring expenses and other charges weighed on the retailers bottom-line results and revenue, and margins weakened. Shares fell 15% to $28.20 premarket.

Abercrombie & Fitch Co. (ANF) posted a sharp drop in fiscal first-quarter earnings as the teen-apparel retailers same-store sales declined amid weak European sales. Shares were 5.7% lower at $42.80 in premarket trading as its sales grew slower than expected.

Warren Buffetts Berkshire Hathaway Inc. (BRKA, BRKB) went long on autos, revealing a 10 million-share stake in GM in a securities filing Tuesday. Shares of the auto maker rose 3.7% to $22.21 premarket.

A U.S. Food and Drug Administration advisory panel on Tuesday asked the agency to allow an HIV test kit to be sold in retail stores so consumers dont have to go to a health facility to get tested for the virus. The mouth-swab test, made by OraSure Technologies Inc. (OSUR) is already sold commercially to health-care professionals. If approved by the FDA, test results could be obtained in the home like tests for pregnancy and blood sugar. Shares of OraSure jumped 36% to $12.37 premarket.

GE Capital Corp. will resume dividend payments to its parent, General Electric Co. (GE), after a three-year suspension as it continues to strengthen from the financial crisis. GE Capitals board declared a $475 million quarterly dividend and plans to payout 30% of its total 2012 earnings. The company also plans to pay GE a $4.5 billion special dividend this year. Shares of GE rose 3.2% to $18.99 premarket.

Sina Corp. (SINA) swung to a first-quarter loss as the Chinese Internet company posted significantly higher expenses, though revenue improved and the loss wasnt as heavy as expected. Shares jumped 9.5% to $56.60 premarket.

Target Corp.s (TGT) fiscal first-quarter earnings edged up 1.2%, helped by a stronger-than-expected top line, though costs tied to the retail giants plans for expansion in Canada weighed on results. Shares were up 2.2% to $56.30 in premarket trade as the nations second-largest retailer by sales behind Wal-Mart Stores Inc. (WMT) raised its earnings outlook for the year.

Staples Inc.s (SPLS) fiscal first-quarter earnings fell 5.6% as the office-supply giant grappled with weaknesses in international operations, particularly Europe. Shares slipped 2.4% to $14.39 premarket.

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Stocks to Watch: J.C. Penney, Abercrombie & Fitch, General Motors