Among the companies with shares expected to actively trade in
Monday's session are Hewlett-Packard Co. (HQP), Becton Dickinson
& Co. (BDX) and CareFusion Corp. (CFN).
Hewlett-Packard plans to separate its personal-computer and
printer businesses from its corporate hardware and services
operations, the latest attempt by the technology company to improve
its fortunes by breaking itself in two. Shares rose 6.4% to $37.45
in premarket trading.
Becton Dickinson on Sunday agreed to buy CareFusion in a $12.2
billion deal designed to provide a full range of medical products
to hospitals, which are under pressure to cut costs and improve
quality. Becton Dickinson's shares gained 8.3% to $125.50
premarket, while CareFusion's shares jumped 25.2% to $57.80.
Alcobra Ltd. (ADHD) said a late-stage study for a drug intended
to treat attention deficit hyperactivity disorder showed
statistically significant results, but the next steps toward
regulatory approval for the drug have yet to be determined. Shares
fell 40.5% to $8.39 premarket.
Actavis PLC (ACT) reached an agreement to acquire specialty
pharmaceutical company Durata Therapeutics Inc. (DRTX) in a deal
the Dublin-based drugmaker valued at about $675 million. Durata
shareholders would receive $23 a share in cash. Shares of Actavis
were inactive premarket. Durata's shares surged 77.2% to
$24.60.
Herbalife Ltd. (HLF) hired former FTC Commissioner Pamela Jones
Harbour to lead its compliance team, after the Federal Trade
Commission opened an investigation into the embattled
nutritional-supplement company in March. Shares were up 3.3% to
$46.08 premarket.
Chevron Corp. (CVX) said Monday it agreed to sell 30% of a key
shale play to a subsidiary of Kuwait Foreign Petroleum Exploration
Co. for $1.5 billion. Shares edged up slightly to $117.73
premarket.
Walt Disney Co. (DIS) on Monday announced plans to inject fresh
capital into its Euro Disney business, which operates the
Disneyland Paris theme parks, after attendance fell this year.
Shares ticked up 0.5% to $88.86 premarket.
Hilton Worldwide Holdings Inc. (HLT) agreed to sell the Waldorf
Astoria New York hotel to Anbang Insurance Group Co. for $1.95
billion. Shares advanced 2.6% to $24.95 premarket.
Teva Pharmaceutical Industries Ltd. (TEVA) plans to discontinue
or sell 14 pipeline projects and, in the process, hopes to save
more than $150 million in research and development costs next
year.
The National Basketball Association reached long-term media
rights deals with ESPN majority-owner Disney and Time Warner Inc.'s
(TWX) Turner Broadcasting, people familiar with the matter said,
more than doubling the fees it received under the previous
contracts.
Sprint Corp. (S) said Friday it would cut an unspecified number
of management and nonmanagement jobs this month to reduce costs.
The reductions will result in a charge of about $160 million in the
company's September quarter.
Barron's Watchlist:
Kroger Co. (KR), the No. 2 U.S. food retailer, is trying to
break out of mass retail by investing in everything from e-commerce
to natural foods, Barron's said in a recent report. Analysts say
the company's stock could rise 20% in the next 12 months, the
report added.
Write to Tom Rojas at tom.rojas@wsj.com
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