Among the companies with shares expected to actively trade in
Monday's session are Clearwire Corp. (CLWR), Enzon Pharmaceuticals
Inc. (ENZN) and Tronox Ltd. (TROX).
Sprint Nextel Corp. (S) agreed to acquire the rest of Clearwire
for $2.97 a share, moving to consolidate a longtime partner key to
the cellphone carrier's strategy. Clearwire shares slumped 8.9% to
$3.07 in premarket trading, while Sprint shares added 2% to
$5.66.
Enzon is considering selling some assets or the entire company
itself, the biotech said Monday. The company also said will suspend
all clinical development in an effort to conserve capital. Shares
jumped 8.3% to $4.95 in premarket trading.
A weak global economy has quashed demand for titanium dioxide, a
white pigment used in paints and coatings, notes Barron's. That's
left shares of Tronox, one of the largest producers of titanium
dioxide, looking cheap, the investment news outfit added, pointing
to a stock that is trading at a roughly 37% discount to its stated
book value of $25 and for 6.6 times next year's estimated earnings.
Shares jumped 5.6% to $16.66 premarket.
Watchlist:
Anacor Pharmaceuticals Inc. (ANAC) said it may offer as much as
$75 million in stock, preferred stock, debt securities or warrants,
as it seeks to raise funds for research-and-development activities,
including clinical trials, for acquisitions or to pay down
debt.
Canadian energy company Calvalley Petroleum Inc. (CVYPF,
CVI.A.T) said it is investigating a targeted attack against an oil
well it operates in Yemen.
Consol Energy Inc. (CNX) said it will lay off 147 workers as the
energy company completes the idling of its Fola mining operations
in West Virginia.
GlaxoSmithKline PLC (GSK, GSK.LN) said the U.S. Food and Drug
Administration has approved raxibacumab to treat patients with the
potentially lethal disease anthrax.
Helix BioPharma Corp. (HBP.T) said it has ended its
collaboration with a Merck & Co. (MRK) unit to develop drugs
containing a type of interferon. With the termination of the
agreement, Merck will no longer have the option to license Helix's
Biphasix technology and will no longer supply interferon-alpha 2b,
which Helix uses to develop cancer drugs.
Liberty Global Inc. (LBTYA, LBTYB) has added $1 billion to its
share-repurchase program, and plans to buy back the shares by the
end of 2013 as the broadband and cable operator seeks to boost
shareholder returns.
The U.S. Food and Drug Administration has approved the use of
Novartis AG's (NVS, NOVN.VX) drug Signifor to treat patients with
Cushing's disease who aren't helped by surgery.
Sonic Foundry Inc. (SOFO) plans to offer up to 900,000 shares,
intending to use the proceeds for general purposes that may include
capital expenditures and research-and-development support.
SunPower Corp. (SPWR) has agreed to pay $19.7 million to settle
a lawsuit filed by investors who alleged certain financial results
were misstated or omitted. The agreement will dismiss all claims
against the solar-products manufacturer and certain current and
former members of management named in the suit.
Universal Insurance Holdings Inc. (UVE) said it plans to offer
up to $100 million in mixed securities, potentially including
stock, as it seeks greater flexibility to finance future business
opportunities. The company also said Chief Executive Bradley I.
Meier may offer as many as seven million shares, which would reduce
his stake in the company to around 14%, from roughly 31%.
Write to Mia Lamar at mia.lamar@dowjones.com
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