Among the companies with shares expected to actively trade in Monday's session are MannKind Corp. (MNKD) and Philips NV (PHG).

The Food and Drug Administration on Friday approved a powder form of insulin, made by MannKind and known as Afrezza, which is inhaled instead of injected, to help diabetics control their blood sugar levels. MannKind shares jumped 11.8% to $11.18 premarket.

Philips said on Monday that it is spinning off its lighting components business in the latest stage of the once-diversified Dutch electronics group's plan to focus on a handful of higher-margin activities. Philips said it would seek outside investors for its Lumileds Lighting unit, which it will combine with its automotive-lighting business. Shares rose 3.1% to $31.40 premarket.

TreeHouse Foods Inc. (THS) said that it agreed to buy private-label trail-mix maker Flagstone Foods for $860 million in cash. The move comes as TreeHouse has grown in recent quarters by buying up companies and expanding its portfolio. Shares rose 5.1% to $83.98 premarket.

Dicerna Pharmaceuticals Inc. (DRNA) announced the presentation of preclinical data demonstrating the promise of the company's therapeutic candidate for the treatment of primary hyperoxaluria type 1, a rare inherited liver disorder that often results in progressive and severe kidney damage. Shares jumped 13% to $21.35 premarket.

Flamel Technologies SA (FLML) said the U.S. Food and Drug Administration has approved the company's new drug application for Vazculep, an alpha-1 adrenergic receptor agonist indicated for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia. American depositary shares rose 5.1% to $14.78 in premarket trading.

 
    Watchlist: 
 

Bebe Stores Inc. (BEBE) is exiting its value-oriented 2b concept and is cutting jobs as part of a cost-reduction program. The women's apparel and accessories retailer said Friday that a workforce reduction affected about 9% of its nonstore employees, excluding the distribution center, and less than 1% of its store operations team.

Darden Restaurants Inc. (DRI) said Monday that it has launched a tender offer for as much as $600 million of its debt.

Consolidated Communications Holdings Inc. (CNSL) has agreed to acquire broadband communications provider Enventis Corp. (ENVE) in an all-stock deal that values Enventis at about $228 million. The deal values Enventis at about $16.50 a share, a 17% premium to Friday's close.

HNI Corp. (HNI) said it plans to close its Midwest Folding Products facility as part of an ongoing cost-cutting effort. The Iowa office-furniture maker said it would consolidate the Chicago production into an existing education-furniture manufacturing facility and estimated it would save $2.3 million a year starting in 2015.

Kraton Performance Polymers Inc.'s (KRA) board is no longer pushing for the company's stockholders to approve its plans to combine with LCY Chemical Corp.'s styrenic block copolymer operations.

Martin Marietta Materials Inc. (MLM) will replace United States Steel Corp. (X) in the Standard and Poor's 500-stock index after the market closes July 1, according to S&P.

PPG Industries Inc. (PPG) agreed to acquire architectural and industrial coatings company Consorcio Comex SA for $2.3 billion. PPG Chief Executive Charles E. Bunch said the acquisition is complementary to the paint and coatings maker's business.

Stryker Corp. (SYK) said Monday that it will acquire an ankle replacement system and other assets from Small Bone Innovations Inc. for up to $375 million in cash. The move aims to expand Stryker's focus on orthopedics, the company said.

 
    Barron's Watchlist: 
 

ResMed Inc. (RMD) seems like a solid growth stock, but March sales reportedly were aided by a quarter-end deal with a large customer, while profit was boosted by noncash accruals, according to Barron's. The strains evident in march-quarter results may grow, if Medicare and other insurers decide to pay a bundled price for continuous positive airway pressure treatments. Shares slipped 3.8% to $50.49 in recent trading.

International Paper Co. (IP) is ramping up payouts and stock buybacks, according to Barron's, which called the company a cash machine. With the debt from recent acquisitions now paid down to a comfortable level, the company is turning its attentions to returning more capital to shareholders. The company's shares have been under pressure from unusual factors, from a weak ruble to bad weather, but the company looks poised to regain momentum as it continues to improve operations, expand margins, and use its enormous free cash flow for dividend increases and share buybacks. Some on Wall Street see the shares rising as high as $66 to $70 a share-as much as 43% higher-in the next 12 months, as strong demand leads to tighter supplies in the containerboard market, eventually leading to rising prices and substantial earnings growth.

With a free cash flow yield of 14%, NetApp Inc. (NTAP) is dirt cheap, according to Barron's. NetApp shares have fallen from $50 three years ago to $35.48 recently, in part because revenue has decelerated fast enough to set off air bags: from 22% growth in fiscal 2012 to a projected decline of 0.4% for its current fiscal year, which runs through April. But profits remain rich, and there's reason to believe NetApp will soon return to revenue growth. NetApp shares could rise more than 25% to $45 in the coming year. In a takeover they could fetch $50.

Write to Anna Prior at anna.prior@wsj.com

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