Among the companies with shares expected to actively trade in
Tuesday's session are Conn's Inc. (CONN), Norwegian Cruise Line
Holdings Ltd. (NCLH) and Dollar General Corp. (DG).
Conn's reported lower-than-expected fiscal second-quarter
earnings as more customers failed to make payments for its
consumer-credit division. The Woodland, Texas, seller of furniture
and home appliances also cut its earnings outlook for the year.
Shares sank 29% to $31.95 premarket.
Norwegian Cruise said it has agreed to buy Prestige Cruises
International Inc. for about $3 billion in cash and stock,
including the assumption of debt, as the cruise-operator looks to
add luxury brands to its offerings. Shares rose 15% to $38.43
premarket.
The battle for Family Dollar Stores Inc. (FDO) escalated as
Dollar General slightly raised its bid for its smaller rival and
took steps to help allay antitrust concerns. The sweetened all-cash
bid is worth $80 a share. Dollar General shares rose 1.3% to $64.84
premarket, while Family Dollar shares edged up 0.7% to $80.40.
Exelixis Inc. (EXEL) said it would cut its workforce by 70%
after clinical trials for the drugmaker's prostate cancer drug
didn't meet its goals. Shares plummeted 54% to $1.90 in premarket
trading.
1-800-Flowers.com Inc. (FLWS) said that it would acquire Harry
& David Holdings Inc. (HARR) for $143 million in cash in a bid
to expand its offerings of gift brands and gourmet food.
1-800-Flowers shares jumped 11% to $5.70 premarket.
Darden Restaurants Inc. (DRI) unveiled a new slate of nominees
and structure for its board to be voted on at its annual
shareholder meeting in October. Shares slipped 1.6% to $46.55.
Aastrom Biosciences Inc. (ASTM) filed to offer $35 million of
common stock. Shares slipped 11% to $3.44 premarket.
Watchlist
Autozone Inc. (AZO) agreed to acquire Interamerican Motor Corp.,
a deal to boost its offerings of import car parts.
Covenant Transportation Group Inc. (CVTI) said an unfavorable
pretrial court decision related to a 2008 cargo claim will lead the
trucking company to raise its reserves related to the case by $7
million to $8 million before taxes during the third quarter.
Four major U.S. energy companies disclosed plans Tuesday to form
a joint venture to build the proposed Atlantic Coast Pipeline,
which would funnel natural gas from West Virginia to North
Carolina. The companies forming the joint venture--Dominion
Resources Inc. (D), Duke Energy Corp. (DUK), Piedmont Natural Gas
Co. (PNY) and AGL Resources Inc. (GAS)--said the partnership,
called Atlantic Coast Pipeline LLC, will own the pipeline, which
was initially proposed by Dominion as the Southeast Reliability
Project.
Select Income REIT (SIR) said it has agreed to acquire nonlisted
real-estate investment trust Cole Corporate Income Trust in a
cash-and-stock deal valued at $3 billion, including the assumption
of $298 million of mortgage debt, in a move that will create an
office and industrial net lease REIT.
Fleet-management software company Omnitracs LLC agreed to
acquire XRS Corp. (XRSC) for $178 million, expanding the privately
held firm's presence in fleet management and compliance
technology.
Write to Anna Prior at anna.prior@wsj.com
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