Among the companies with shares expected to actively trade in
Monday's session are Bridgepoint Education (BPI), Hillshire Brands
Co. (HSH) and Pinnacle Foods Inc. (PF).
Bridgepoint warned that it will miss the deadline to file its
latest quarterly report to the Securities and Exchange Commission
and projected disappointing results for the period. The company
said the delay is related to an SEC comment that the company's
revenue recognition policy and accounting for doubtful accounts may
need revising. Shares dropped 12% to $14 in light premarket
trading.
Hillshire on Monday said it agreed to buy Pinnacle Foods for
roughly $4.3 billion in cash and stock, giving the packaged-meat
producer a broader line of grocery staples. Pinnacle shareholders
will receive consideration of $36.48---a 20% premium over Friday's
closing price. Pinnacle shares surged 20% to $36.50 premarket,
while Hillshire edged up 2.3% to $37.80.
Watch List:
Allergan Inc. (AGN) formally rejected the $46 billion
unsolicited takeover bid made by Valeant Pharmaceuticals
International Inc. (VRX), saying the proposal substantially
undervalues the botox maker. A Valeant representative wasn't
immediately available for comment.
Amgen Inc. (AMGN) and AstraZeneca PLC (AZN) said Friday a
potential treatment for moderate-to-severe plaque psoriasis showed
positive results. The drug makers said the Phase 3 of the
brodalumab 661-patient study met all primary and secondary
endpoints.
Drug researcher Compugen Ltd. (CGEN) said Chief Financial Offer
Dikla Czaczkes Axselbrad agreed to step down and it named Avihai
Shen as the interim replacement. Last month, the company responded
to newspaper reports alleging that the Israel Securities Authority
was investigating Ms. Axselbrad's husband for insider trading.
New York hedge fund Standard General L.P. on Friday disclosed a
9.8% passive stake in struggling consumer-electronics chain
RadioShack Corp. (RSH).
Xerox Corp. (XRX)--whose contract to administer Texas Medicaid
program was terminated Friday, a day after the state filed a
lawsuit over alleged Medicare orthodontics fraud--called the
lawsuit misdirected, saying the state should go after the dentists
who took advantage of the program.
Write to Maria Armental at maria.armental@wsj.com
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