Among the companies with shares expected to actively trade in
Monday's session are BioDelivery Sciences International Inc.
(BDSI), CASI Pharmaceuticals Inc. (CASI) and PetSmart Inc.
(PETM).
A pain drug developed by Endo Pharmaceuticals PLC and
BioDelivery Sciences met its primary endpoint in a Phase 3 study,
the companies said Monday. Shares of BioDelivery Sciences jumped
14% to $13.69 in premarket trading as the companies prepared to
meet with the U.S. Food and Drug Administration over a potential
new drug application for BEMA buprenorphine.
CASI Pharmaceuticals said that its treatment ENMD-2076 has
received orphan drug designation from the U.S. Food and Drug
Administration for the treatment of hepatocellular carcinoma.
Shares rose 3.2% to $2.04 premarket.
PetSmart said its board has been reviewing potential changes to
the pet-supply retailer's capital structure, including returning
capital to shareholders, amid activist pressure. Shares rose 1.1%
to $68.00 premarket.
Watchlist:
American Apparel Inc. (APP) is in talks to raise new financing
from hedge fund Standard General that would allow the company to
pay off a loan that came due after it ousted founder Dov Charney,
according to The Wall Street Journal, which cited people familiar
with the matter.
Archer Daniels Midland Co. (ADM) said Monday it would buy
food-ingredients provider WILD Flavors GmbH for EUR2.2 billion
($2.99 billion) to boost its product offering. ADM is acquiring
WILD from shareholders Hans-Peter Wild, the company's chairman, and
private-equity firm Kohlberg Kravis Roberts & Co. ADM will also
assume EUR100 million of WILD's net debt.
Japan has approved Bristol-Myers Squibb Co.'s (BMY) all-oral
Daklinza and Sunvepra dual regimen to treat hepatitis C, the
company said Monday.
Expedia Inc. (EXPE) on Monday called certain rumors reported in
Chinese media about the company's majority ownership of Chinese
online travel services provider eLong Inc. (LONG) inaccurate. The
Bellevue, Wash., online travel site said it remains a long-term
investor in eLong and supports eLong's drive to become the leading
Chinese travel site.
Appalachia gas driller Rice Energy Inc. (RICE) has agreed to
purchase about 22,000 acres of land and 12 developed Marcellus
shale wells in western Pennsylvania in a $336 million deal, the
company said Monday. Rice said it would buy the land and wells in
Greene County, Penn., from Chesapeake Appalachia LLC through a
combination of cash and credit.
Sensata Technologies Holding NV (ST) said Monday that it reached
an agreement to buy DeltaTech Controls in a deal valued at $190
million, as the sensors and controls supplier looks to broaden its
offerings.
Warren Resources Inc. (WRES) said Monday it has agreed to
acquire essentially all of the Marcellus assets of Citrus Energy
Corp. and two working interest owners for $352.5 million.
Barron's Watchlist:
Dish Network Corp. (DISH), which has 14 million TV subscribers,
has its value basically tied to spectrum, or wireless real estate,
that it has acquired since 2008, according to Barron's. Bullish
analysts think the spectrum alone could be worth $25 billion, after
taxes, if sold. With a stock-market value of just $30 billion,
investors are giving Dish short shrift for its satellite-TV
business, which is highly profitable, even if slow-growing. As
investors get a better handle on the spectrum's worth, Dish shares
could rise 20%. The stock has shown surprising resilience since the
company was left out of the merger parade. It closed the week at
$66.37, a 52-week high.
Realogy Holdings Corp. (RLGY), the nation's largest owner and
franchiser of residential real-estate brokerages, has seen its
stock tumble 23% this year amid concerns about the pace of the U.S.
housing recovery and an earnings miss. Yet, the company is no
fixer-upper, said Barron's. The company boasts strong brokerage
franchises, healthy cash flow, an improving balance sheet, and
shareholder-friendly management. As Wall Street wakes up to
Realogy's growth prospects and investor focus, the stock could
rally as much as 25%.
Write to Anna Prior at anna.prior@wsj.com
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