Among the companies with shares expected to actively trade in
Monday's session are Allscripts Healthcare Solution Inc. (MDRX),
TPC Group Inc. (TPCG) and Green Dot Corp. (GDOT).
Electronic health-records company Allscripts, which is looking
to be taken private after an earlier board shakeup and legal
squabbles, received first-round bids from Blackstone Group LP (BX),
Carlyle Group LP (CG) and Silver Lake Management LLC, Bloomberg
reported Monday, citing people familiar with the talks. Allscripts
is using Citigroup Inc. (C) to run its sale and is seeking
second-round offers in three to four weeks. Shares rose 7.1% to
$14.27 premarket.
Petrochemical-product producer TPC Group's shares rose 11% to
$45.01 premarket amid a more than $700 million takeover offer from
specialty-chemicals maker Innospec Inc. (IOSP). As part of the
proposal, Innospec would pursue an acquisition of all of TPC
Group's common shares for an all-cash purchase in the range of $44
to $46 a share. The offer comes as investors led by Sandell Asset
Management have been fighting against a $627 million bid from a
pair of private-equity firms.
Green Dot shares slump as American Express Co. (AXP) decides to
enter the prepaid card realm in full force, including going forward
to launch Bluebird at Wal-Mart Stores Inc. (WMT) locations.
American Express has been testing it for nearly a year, and March's
disclosure of that caused shares of prepaid-card purveyor Green
Dot--which has relied heavily on Wal-Mart customers for its own
business--to slide. Green Dot shares were off 21% to $10.13
premarket.
Affymetrix Inc. (AFFX), a provider of genetic analysis
technologies to pharmaceutical, diagnostic and biotechnology
companies, expects third-quarter revenue to fall short of consensus
estimates as a tightening academic funding environment worldwide
has hurt its gene expression and eBioscience business units. Shares
fell 9.7% to $3.89 premarket.
EXACT Sciences Corp.'s (EXAS) shares rise 9.2% to $12.70
premarket amid a story in Barron's saying that while the stock is
risky, there could be more appreciation potential into the high
teens or $20s, if the company's colon-cancer test clears key
hurdles. Some investors, says Barron's, are betting that the U.S.
Food and Drug Administration approval could prompt a takeover of
Exact Sciences at a nice premium to the current share price by a
larger health-care outfit.
Watchlist:
Celadon Group Inc. (CGI) projected first-quarter earnings above
analyst expectations, as acquisitions have boosted the trucking
company's revenue and a newer fleet of vehicles helped it cut
maintenance costs.
Oclaro Inc. (OCLR) reported preliminary fiscal first-quarter
revenue below its own estimates, as the optical components company
pointed to slower-than-expected recovery from last year's floods in
Thailand and slower-than-expected ramp of new products.
Wet Seal Inc. (WTSLA) said late Friday the head of its
merchandising division, Harriet Sustarsic, has resigned and will be
joining True Religion Apparel Inc. (TRLG).
Write to Anna Prior at anna.prior@dowjones.com
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