Among the companies with shares expected to trade in Monday's
session are Cracker Barrel Old Country Store Inc. (CBRL), Synta
Pharmaceuticals Corp. (SNTA) and Affymax Inc. (AFFY).
Cracker Barrel's fiscal third-quarter earnings rose 30%, topping
expectations, amid strong sales and traffic. The country-style
restaurant and retail chain raised per-share earnings estimate for
the year. Shares rose 4% to $93.01 premarket.
Synta said results from an interim survival analysis of a trial
evaluating its lead drug candidate, the Hsp90 inhibitor ganetespib,
as a second-line treatment for patients with advanced nonsmall cell
lung adenocarcinoma were positives. Shares jumped 3.7% to $7.65
premarket.
Affymax will be delisted after Wednesday's trading by Nasdaq as
the biotech declines to appeal a ruling that because of the recall
of its anemia drug, "the company no longer has an operating
business" and is instead a "public shell." That is an entity the
exchange has previously said "could be detrimental to the interests
of the investing public." Affymax has also announced paying $6
million to two suppliers of the drug's ingredients. Shares dropped
24% premarket to $1.59.
Flamel Technologies S.A. (FLML) said the U.S. Food and Drug
Administration has approved its new drug application for Bloxiverz,
a drug used intravenously in the operating room for the reversal of
the effects of nondepolarizing neuromuscular blocking agents after
surgery. American depositary shares increased 22% to $5.88 in light
premarket trading.
Mid-America Apartment Communities Inc. (MAA) and Colonial
Properties Trust (CLP) have agreed to merge, creating a
Sunbelt-focused real estate investment trust with a total market
capitalization of $8.6 billion. The adjusted market capitalization
is about $5.1 billion. Colonial Properties shares increased 7.9% to
$23.85 in premarket trading.
Watchlist:
Beam Inc. (BEAM) received a modest response to its recent offer
to repurchase $326.5 million of notes that mature next year, though
the whisky maker's offer to buy back up to $175 million of other
debt received a stronger response.
Clovis Oncology Inc. (CLVS) said early results from two separate
studies suggest the potential cancer inhibitors rucaparib and
CO-1686 were well-tolerated by patients.
Depomed Inc. (DEPO) is scrapping development of its treatment
for menopause symptoms after the U.S. Food and Drug Administration
failed to approve it.
Standard & Poor's Ratings Services raised its outlook on
Express Scripts Holding Co. (ESRX) to stable from negative as the
pharmacy-benefit manager faces growing demand for
specialty-pharmaceutical services.
Halozyme Therapeutics Inc. (HALO) said results were positive for
an early-stage trial of its investigational new biologic, PEGPH20,
in combination with gemcitabine for the treatment of patients with
stage IV metastatic pancreatic cancer.
Standard & Poor's Ratings Services lifted its outlook on
Kinder Morgan Inc. (KMI) to positive from stable, citing the
midstream energy company's successful execution of its deleveraging
plan as well as its greater size and improved cash flow following
its merger with El Paso Corp.
Fitch Ratings lowered its outlook on MarkWest Energy Partners LP
(MWE) to negative from stable on concerns of limited liquidity and
covenant headroom at the natural-gas processor.
NewLink Genetics Corp. (NLNK) said results from a midstage study
of its resected pancreatic drug were positive.
Write to Anna Prior at anna.prior@dowjones.com.
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