Among the companies with shares expected to trade actively in Monday's session are Forest Laboratories Inc. (FRX), Navistar International Corp. (NAV) and Centene Corp. (CNC).
Forest Laboratories lowered its fiscal year 2013 earnings guidance, saying the March patent exclusivity expiration on its depression treatment Lexapro turned out to hit the company harder than expected. Initial prices from authorized generic distributor Teva Pharmaceutical Industries Ltd. (TEVA) have been much lower than Forest Labs anticipated, cutting royalty income, the company said. Shares of Forest Labs dropped 5% to $33.90 premarket.
Activist investor Carl Icahn raised his stake in Navistar International, signaling his renewed interest in the commercial truck and engine maker as it attempts to recover from two straight quarterly losses with a revamped management team. Shares of Navistar climbed 5.8% to $30 in recent premarket trade.
Centene cut its full-year earnings guidance as the Medicaid insurer saw higher-than-expected medical costs in Kentucky and Texas, as well as in its Celtic business, and is bracing for an additional potential writedown. Shares of the operator of Medicaid and specialty-based programs tumbled 24% to $27 premarket.
Diamond Foods Inc.'s (DMND) shares fell 3.4% to $19.48 premarket as the beleaguered snack maker said it won't meet today's Nasdaq deadline to file delayed quarterly reports. As such, it expects to get a delisting warning, which the company would appeal in order to delay any potential pulling of its stock from the exchange. It will also seek an extension for holding its annual meeting, which it doesn't expect to happen before July 31.
Shares of Ampio Pharmaceuticals Inc. (AMPE) rose 9.4% to $3.50 premarket after the company announced positive results from a trial of its treatment of retina swelling related to diabetes.
EnergySolutions Inc. (ES) shares declined 13% to $3.11 premarket as the nuclear industry service provider appointed board member David Lockwood as its new chief executive, and lowered its full-year adjusted earnings estimate.
IntegraMed America Inc. (INMD) has agreed to go private in a cash deal that values the health-care management company at around $169.5 million. The company's agreement with Sagard Capital Partners L.P. offers shareholders $14.05 a share, a premium of roughly 24% to its Friday closing price. Shares jumped nearly 20% to $13.59 in premarket trading.
Mercury Computer Systems Inc. (MRCY) agreed to acquire Micronetics Inc. (NOIZ), a maker of radio and microwave frequency subsystems and components, in a roughly $67.7 million cash deal as it looks to bolster its sensor processing chain. Micronetics shareholders will receive $14.80 a share, nearly double the price of its Friday close. Shares of Micronetics jumped 95% to $14.57 premarket.
Healthways Inc. (HWAY) lowered its full-year earnings guidance to reflect increased interest expense from refinancing its lines of credit.
Johnson & Johnson (JNJ) said it plans to record a special charge of roughly $600 million in its second quarter to increase its accrual for potential legal settlements, as it has faced a series of lawsuits over accusations of bribery and improper drug-marketing practices.
LHC Group (LHCG) decided to remain independent, ending a strategic review that the home-health and hospice-services provider began late last year.
Shutterfly Inc. (SFLY) said its chief technology officer, Neil M. Day, Jr., will resign to spend time with his family.
WebMD Health Corp. (WBMD) said it will appoint a nominee of activist investor and largest shareholder Carl Icahn to its board, expanding its size by one seat.
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