Among the companies with shares expected to actively trade in
Monday's session are Acura Pharmaceuticals Inc. (ACUR), Shaw Group
Inc. (SHAW) and Trina Solar Ltd. (TSL).
Acura said Pfizer Inc. (PFE) has terminated the license to three
development-stage products using the specialty pharmaceutical
company's tamper-resistant technology and will return the products.
Shares slumped 32% to $2.10 premarket.
Shares of Shaw surged 65% to $44.00 in premarket trading on news
of a $3 billion takeover deal by peer Chicago Bridge & Iron
(CBI). Shaw shares have generally been stuck below $30 the past 13
months, but CBI is offering $46 a share for the company, a price
last seen for the stock four years ago. The companies say the
combination will create one of the world's "most-complete"
energy-focused services firms.
Solar company Trina (TSL, K3KD.SG) lowered its guidance for the
second quarter, citing an overcapcity-induced deflationary-pricing
environment and lower-than-expected shipment volume. The company
now estimates solar-module shipments for the current quarter to be
between 390 megawatts and 420 megawatts, compared with its previous
guidance of 500 MW to 520 MW. Shares fell 7.8% to $4.99 in
premarket trading.
Exelixis Inc. (EXEL), a biotechnology company, announced the
U.S. Food and Drug Administration granted a priority review
designation to its new drug application for cabozantinib, a
potential treatment for medullary thyroid cancer, and set an action
date of Nov. 29. The company says preclincial studies have shown
the drug kills tumor cells, reduces metastases and inhibits the
formation of new blood vessels necessary to support tumor growth.
Shares rose 8.9% to $6.97 premarket.
Shares of Arch Coal Inc. (ACI) continue to rise--up 5.1% to
$7.15 premarket--after a spike Friday following second-quarter
results that weren't as bad as expected. The stock received two
upgrades this morning, with freshly bullish analyst citing good
performance on costs and improved financial flexibility.
Salix Pharmaceuticals Ltd. (SLXP) and Progenics Pharmaceuticals
Inc. (PGNX) said the Food and Drug Administration has requested
additional clinical data on their treatment for opioid-induced
constipation in patients with chronic, non-cancer pain. Shares of
Salix fell 10% to $47.75 premarket, while Progenics slipped 44% to
$6.10.
Barclays lowered its target price for Credit Suisse Group AG
(CS, CSGN.VX) to roughly $15.84 from about $17.37, saying
challenges remain for the Swiss bank despite progress with its
additional capital measures. Shares fell 3.3% to $17.30
premarket.
Watchlist:
AT&T Inc. (T) boosted its buyback program by 300 million
shares, as the telecommunications heavyweight seeks to bolster
shareholder value.
CVR Energy Inc. (CVI) has named Susan M. Ball its new chief
financial officer and treasurer, replacing Frank A. Pici, who is
leaving the petroleum company to pursue other opportunities.
The U.S. Securities and Exchange Commission has accused a Hong
Kong-based firm of insider trading ahead of the public disclosure
that Chinese oil firm Cnooc Ltd. (CEO, 0883.HK) plans to acquire
Canadian energy producer Nexen Inc. (NXY, NXY.T).
Quality Systems Inc. (QSII) dissident board member Ahmed Hussein
defended his stock sale after the medical-records-software company
censured him for violating its insider-trading policy amid an
ongoing proxy battle.
Standard & Poor's Ratings Services raised its outlook on
United Technologies Corp. (UTX) to stable from negative, after the
industrial conglomerate agreed to divest from some businesses,
allowing it to raise money that will help fund its roughly $16.4
billion acquisition of Goodrich Corp.
Write to Anna Prior at anna.prior@dowjones.com
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