Among the companies with shares expected to actively trade in
Monday's session are Supernus Pharmaceuticals Inc. (SUPN), Edwards
Group Ltd. (EVAC) and GTx Inc. (GTXI).
Supernus Pharmaceuticals, a specialty pharmaceutical company,
received final approval from the U.S. Food and Drug Administration
for its epilepsy treatment, Trokendi XR. Shares jumped 33% to $8.85
premarket as the company said it expects to launch the product and
for it to be available in pharmacies over the next few weeks.
Edwards Group has agreed to be acquired by Atlas Copco AB
(ATCO-A.SK, ATLKY) for up to $1.2 billion in a deal that will boost
the vacuum pump maker's prospects for growth. The deal is valued at
up to about $1.6 billion, including the assumption of debt. Atlas
Copco will pay up to $10.50 a share to buy Edwards, representing a
24% premium to the company's Friday's closing price. The price
includes a fixed cash payment of $9.25 at closing and an additional
payment of up to $1.25 a share post-closing, depending on Edwards
achieving certain milestones. Edwards shares rose 23% to $10.40
premarket.
GTx said two late-stage clinical trials of its treatment for
patients with non-small cell lung cancer receiving chemotherapy
failed to meet their endpoints. Shares tumbled 70% to $1.24
premarket.
Cobalt International Energy Inc. (CIE) said Monday that it had
confirmed oil in a West African well, while it had not found oil in
a well in the Gulf of Mexico. Shares of the oil-and-gas exploration
company fell 12% to $25.80 premarket.
RBC Capital Markets downgraded Trulia Inc. (TRLA) to sector
perform from outperform while maintaining its $47 price target,
saying in a note to clients that with shares trading near its price
target, the risk-reward profile for the online real-estate-listing
service's stock has become "less compelling." Shares fell 4.6% to
$44.00 premarket.
Activist investor Carl Icahn increased his ownership stake in
energy producer Chesapeake Energy Corp. (CHK) to 9.98%, according
to a regulatory filing. Chesapeake shares rose 2.8% to $25.70 in
premarket trading.
Watchlist:
ConocoPhillips (COP) has sold its midstream asset in Trinidad
and Tobago for $600 million to the National Gas Company of Trinidad
and Tobago Ltd., as the exploration-and-production company
continues to divest noncore assets.
Pinnacle Entertainment Inc. (PNK) has agreed to sell its Lumiere
Casino and Hotels in St. Louis to Tropicana Entertainment Inc.
(TPA) for $260 million in cash.
Saks Inc.'s (SKS) fiscal second-quarter loss widened as the
retailer's overhead costs increased and sales grew more slowly than
expected. The high-end retailer, which agreed in July to be
acquired by Canadian firm Hudson's Bay Co. (HBC.T) in a $2.4
billion deal, said its moderate sales growth was driven by
categories such as women's designer apparel and accessories,
children's apparel and men's accessories.
Moody's Investors Service upgraded Sprouts Farmers Market Inc.
(SFM) a notch, noting that the grocery chain's recent public launch
eased its debt burden.
After a string of heavy losses and share-price declines, U.S.
Steel Corp. (X) said Chief Executive John Surma is stepping down
and will be succeeded by Mario Longhi, effective Sept. 1.
Write to Anna Prior at anna.prior@wsj.com
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