Among the companies with shares expected to actively trade in
Friday's session are Santarus Inc. (SNTS) and AVG Technologies NV
(AVG).
Salix Pharmaceuticals Ltd. (SLXP) agreed to pay roughly $2.15
billion to acquire specialty pharmaceutical company Santarus, a
deal the buyer said will boost earnings in 2014 and expand its
pipeline. The per-share price Salix agreed to pay, $32, represented
a 38% premium over Santarus's closing price Thursday. Shares of
Santarus, which went public in 2004, jumped 37% to $31.87 in
premarket trading, and Salix was up 11% to $79.20.
AVG's third-quarter earnings declined 75%, with a higher tax
provision and thinner operating margins weighing on results. Shares
were down 13% at $17.10 in premarket trading as the company lowered
its revenue outlook for the year and issued downbeat guidance for
the fourth quarter.
Alcoa Inc. (AA) unveiled its business targets for the next three
years as Chairman and Chief Executive Klaus Kleinfeld said the
aluminum company has made "significant strides" in repositioning
its business. Shares edged up 1.3% to $9.07 premarket.
Allscripts Healthcare Solutions Inc. (MDRX) swung to a
third-quarter loss on transaction-related costs and other one-time
items, but the electronic health-records company also reported
sharp growth in bookings from a year earlier. Shares were up 5.4%
at $14.95 in recent after-hours trading.
Gap Inc. (GPS) reported better-than-expected fiscal
third-quarter sales growth, results that benefited from a strong
showing in October. The company's stock jumped 7.7% to $40.65 in
after-hours trading, as the apparel retailer also provided a rosy
earnings outlook for the quarter.
Groupon Inc. (GRPN) posted a wider third-quarter loss and sales
below expectations. But it also said it is testing a version of its
website that wouldn't require an email address and account to look
at deals. That could potentially expand the number of customers it
reaches because it would eliminate the need to get daily emails and
unveiled plans to buy Korean e-commerce firm Ticket Monster for up
to $260 million. Shares climbed 5% to $9.97 premarket.
Horizon Pharma Inc. (HZNP) smashed analysts' estimates as the
biopharma company saw revenue from its Duexis arthritis double
again sequentially. Prescriptions rose 18% and price increases
aided the top line as well. Shares rose 13% to $4.21 premarket.
Lions Gate Entertainment Corp.'s (LGF) fiscal second-quarter
profit declined 99% as the company logged an increase in charges
for the early extinguishment of debt and as it faced a tough
comparison from the year-earlier home entertainment release of "The
Hunger Games." The bottom-line results beat views, and shares edged
up 1.4% to $32.60 premarket.
Nvidia Corp.'s (NVDA) fiscal third-quarter earnings fell 43% as
the chip maker posted weaker revenue and was hit by higher costs.
Adjusted earnings declined less than expected, and the company
raised its quarterly dividend. Shares rose 1.8% to $14.80
premarket.
Priceline.com Inc. (PCLN) replaced its longtime chief executive
with the boss of its most profitable hotel-booking unit, ending an
11-year tenure that oversaw one of the most dramatic turnarounds of
the past decade. Quarterly results beat the company's August
outlook. Shares edged up 1.8% to $1,041.12 premarket.
Walt Disney Co.'s (DIS) fiscal fourth-quarter profit rose 12%
thanks in large part to revenue growth across its segments, but the
company pushed back the expected release date of the new
installment in the "Star Wars" franchise. Shares edged down 1.4% to
$66.20 premarket.
Watch List:
CareFusion Corp.'s (CFN) fiscal first-quarter earnings fell 7.1%
as the medical-equipment company's revenue slipped, with declines
in its medical systems segment offsetting growth in its procedural
solutions business.
Covidien PLC's (COV) fiscal fourth-quarter earnings fell 19% as
the company recorded an increase in expenses and a slight decline
in medical-supplies sales, while core earnings improved and just
topped estimates.
Ensign Group Inc. (ENSG) said it plans to spin off its
real-estate business into a separate, publicly traded company.
After the split, expected to be completed in the first quarter of
next year, the two companies will be Ensign Group, which will focus
on health-care services, and CareTrust REIT Inc., which will buy,
own and lease real estate for the health-care industry.
International Business Machines Corp. (IBM) appointed insider
Martin Schroeter to the chief financial officer role, succeeding
Mark Loughridge, as the latter executive will reach Big Blue's
customary retirement age next month.
McDonald's Corp.'s (MCD) global same-store sales grew 0.5% in
October, with results in the U.S. and Europe offsetting weakness in
Asia. McDonald's last month predicted sales to be relatively flat,
despite what should have been an easy comparison from a year ago,
when the company reported its first monthly same-store sales
decline in nine years.
Molycorp Inc.'s (MCP) third-quarter loss widened on a
double-digit decline in revenue, though the rare-earth mining
company also trimmed costs and saw some sequential improvement.
Pfizer Inc. (PFE) said its organ-transplant drug Rapamune drug
didn't meet its primary endpoint in a late stage study of kidney
transplant patients. Pfizer said there was no statistically
significant difference in renal function improvement between
patients who continued receiving tacrolimus-based therapy and those
who switched to Rapamune.
E.W. Scripps Co. (SSP) swung to a third-quarter loss as the
newspaper and television company was hurt by a loss of political
advertising revenue because of the off-year for elections. Results
missed estimates.
Write to Lauren Pollock at lauren.pollock@wsj.com
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