Among the companies with shares expected to actively trade in
Monday's session is Herbalife Ltd. (HLF).
Herbalife Ltd. (HLF) raised its fourth-quarter outlook and
boosted its stock buyback program, but provided a weak estimate for
its first quarter. Herbalife sells a range of products, including
weight-loss shakes and fitness supplements, operating through a
wide global network of independent distributors. Shares edged up
2.5% to $66 premarket.
Watch List:
Cigarette maker Altria Group Inc. (MO) agreed to buy Green Smoke
Inc. for about $110 million in cash, adding to a growing trend of
big tobacco companies jumping into the nascent e-cigarette market.
Green Smoke, founded in 2008, has operations in the U.S. and Israel
and has sold e-cigarette products since 2009, mostly in the U.S.
Its revenue last year was about $40 million, just a tiny fraction
of Altria's $24.5 billion in 2013 revenue.
Activist investor William A. Ackman's Pershing Square scaled
back its stake in Beam Inc. (BEAM) to 8.3%, weeks after the
alcoholic-beverage maker agreed to be taken over by Japanese
company Suntory. The firm had been the largest shareholder in Beam,
with a stake of about 13%.
International Business Machines Corp. (IBM) Chief Executive
Ginni Rometty and her senior executive team will forgo annual
bonuses for 2013 because of poor results. Ms. Rometty and the
executives had proposed the move last week after the company
reported that its revenue fell 4.6% in 2013 amid continued hardware
struggles. The computer giant said in a filing Friday that the
compensation committee approved the recommendation.
Pfizer Inc. (PFE) said a Phase 2 trial of its advanced breast
cancer treatment met its primary endpoint. A study comparing the
effects of a combination treatment of palbociclib and letrozole
with letrozole alone showed that the combination of treatments had
significantly improved progression-free survival in post-menopausal
women with certain types of locally advanced or newly diagnosed
metastatic breast cancer.
Post Holdings Inc. (POST) agreed to acquire the PowerBar and
Musashi brands from Nestle SA (NSRGY, NESN.VX), further expanding
the cereal maker's position in the active nutrition category.
Sysco Corp. (SYY) said its fiscal second-quarter earnings fell
4.8% as higher expenses overshadowed revenue growth. The
food-service distributor's revenue grew less than expected.
Violin Memory Inc. (VMEM) named Kevin A. DeNuccio as chief
executive after firing prior CEO Don Basile in December because of
the company's poor performance. The flash-storage company posted
disappointing third-quarter results and a sagging stock price.
Trucking company YRC Worldwide Inc. (YRCW) said Friday it had
cut its large debt load by about $300 million while offering $250
million in stock, the proceeds of which will be used to retire
convertible notes. About $50 million in the principal amount of
other convertible notes were swapped or converted to common stock,
the company said.
Write to Michael Calia at michael.calia@wsj.com and Lauren
Pollock at lauren.pollock@wsj.com
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