Among the companies with shares expected to actively trade in
Tuesday's session are ExactTarget Inc. (ET), Dollar General Corp.
(DG) and G-III Apparel Group Ltd. (GIII).
Salesforce.com Inc. (CRM) agreed to buy ExactTarget for about
$2.5 billion, expanding the business-software company's marketing
portfolio. Salesforce offered $33.75 in cash for each ExactTarget
share, a 53% premium over Monday's close. ExactTarget shares jumped
53% to $33.85 premarket, while Salesforce.com shares slipped 3% to
$39.83.
Dollar General's fiscal first-quarter profit rose 3.1% as the
discount retailer's same-store sales improved, though margins were
down. Shares fell 6.3% to $50.20 premarket after the company
lowered its guidance for the year.
G-III Apparel swung to a surprise fiscal first-quarter profit as
the apparel maker posted double-digit sales growth and sharply
stronger margins. Shares were up 7% at $45.75 in premarket trading
as revenue topped expectations and the company raised its fiscal
year guidance.
Morgans Hotel Group Co. (MHGC) said its slate of board
candidates intends to begin exploring the luxury-hotel operator's
strategic alternatives upon election--including a possible sale of
the company, citing recent feedback from shareholders and
expressions of interest from five potential buyers. Shares jumped
17% to $7.80 premarket.
Microchip Technology Inc. (MCHP) lifted its fiscal first-quarter
guidance as the manufacturer of specialized semiconductor products
said it continued to see strong bookings and a strong business
environment during the period. Shares were up 7.4% to $39.55
premarket as the company also said it has taken steps to end its
rotating time-off program and to return employees to full-time work
earlier than expected as demand for the company's products
strengthens.
AstraZeneca PLC (AZN, AZN.LN) said Tuesday that it will incur a
$140 million pretax impairment charge for the second quarter after
late stage trials for its arthritis treatment fostamatinib failed
to live up to earlier expectations. Rights to the compound will be
returned to Rigel Pharmaceuticals Inc. (RIGL). Rigel shares dropped
20% to $3.60 premarket, while AstraZeneca shares slipped 0.5% to
$51.25.
Array BioPharma Inc. (ARRY) said it will offer about $100
million in debt and plans to use most of the proceeds to pay down
other debt. The drug developer's shares slid 6.4% to $5.41
premarket.
New York hedge-fund manager Bill Ackman is selling up to 29% of
his stake in Canadian Pacific Railway Ltd. (CP, CP.T), a year after
winning a high-profile proxy fight to install a new chief executive
at the company. Shares were off 2.9% to $128.01 premarket.
General Motors Co. (GM) will roll past another milestone when
the auto maker's stock returns to trading on the S&P 500 Index
later this week. GM's stock will be added to the 500 and 100
indexes at the closing of trading on Thursday, S&P announced
Monday. Shares were up 2.4% to $35.26 premarket.
U.S. Silica Holdings Inc. (SLCA) said GGC USS Holdings LLC plans
to further reduce its ownership stake in the company by offering 10
million shares. The commercial silica producer, which won't receive
any proceeds from the offering, had 53 million shares outstanding
as of April 26. Shares were down 3.9% to $20.75 premarket.
Watchlist:
ABM Industries Inc.'s (ABM) fiscal second-quarter earnings rose
65% as the facility-services contractor benefited from recent
acquisitions and organic growth in certain divisions. Core
per-share earnings topped analysts' expectations and the company
lifted its fiscal year earnings projection.
A group of top U.S. government officials has designated American
International Group Inc. (AIG) as "systemically important," meaning
it will potentially be subject to increased government
scrutiny.
Brown Shoe Co. (BWS) President and Chief Executive Diane
Sullivan will add the role of chairman to her duties in February
when current Chairman Ron Fromm steps down.
Carlyle Group LP (CG) said the California Public Employees'
Retirement System plans to offer 11.1 million units, exiting its
2001 investment in the private-equity firm. Carlyle, which won't
receive any proceeds from the offering, had 46.1 million units
outstanding as of May 10.
Elan Corp. (ELN) said it has received an injunction from the
Irish High Court restraining Royalty Pharma AG from distributing a
proxy statement to the Irish biotechnology company's
shareholders.
FedEx Corp. (FDX) said it is taking a $100 million impairment
charge for its quarter ended May 31 to park old, inefficient
aircraft as it accelerates an ongoing fleet modernization effort
amid the slow economy.
Enterprise-software vendor Qlik Technologies Inc. (QLIK) has
named Tim MacCarrick its new chief financial officer and Diane
Adams its new chief people officer.
SAIC Inc.'s (SAI) fiscal first-quarter earnings fell 31% as the
government-services contractor recorded expenses related to its
planned separation into two companies as well as weaker revenue
from its national security and technical services segments.
Continental Grain Co. has decided to exit its long-term
ownership stake in Smithfield Foods Inc. (SFD), saying it is
satisfied with its investment return after the world's largest hog
farmer and pork processor last week agreed to a $4.7 billion
acquisition by Shuanghui International Holdings Ltd.
Tile Shop Holdings Inc. (TTS) said certain stockholders,
including certain members of the board and management, have
commenced an offering of about 4.3 million shares. The specialty
retailer of manufactured and natural stone tiles had about 53
million shares outstanding as of May 8.
Verint Systems Inc. (VRNT) swung to a fiscal first-quarter loss
as the data-analysis software company recorded higher expenses and
an income-tax provision. Per-share earnings fell short of analyst
expectations.
Write to Anna Prior at anna.prior@dowjones.com
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