Among the companies with shares expected to actively trade in Monday's session are Acura Pharmaceuticals Inc. (ACUR), Shaw Group Inc. (SHAW) and Trina Solar Ltd. (TSL).
Acura said Pfizer Inc. (PFE) has terminated the license to three development-stage products using the specialty pharmaceutical company's tamper-resistant technology and will return the products. Shares slumped 32% to $2.10 premarket.
Shares of Shaw surged 65% to $44.00 in premarket trading on news of a $3 billion takeover deal by peer Chicago Bridge & Iron (CBI). Shaw shares have generally been stuck below $30 the past 13 months, but CBI is offering $46 a share for the company, a price last seen for the stock four years ago. The companies say the combination will create one of the world's "most-complete" energy-focused services firms.
Solar company Trina (TSL, K3KD.SG) lowered its guidance for the second quarter, citing an overcapcity-induced deflationary-pricing environment and lower-than-expected shipment volume. The company now estimates solar-module shipments for the current quarter to be between 390 megawatts and 420 megawatts, compared with its previous guidance of 500 MW to 520 MW. Shares fell 7.8% to $4.99 in premarket trading.
Exelixis Inc. (EXEL), a biotechnology company, announced the U.S. Food and Drug Administration granted a priority review designation to its new drug application for cabozantinib, a potential treatment for medullary thyroid cancer, and set an action date of Nov. 29. The company says preclincial studies have shown the drug kills tumor cells, reduces metastases and inhibits the formation of new blood vessels necessary to support tumor growth. Shares rose 8.9% to $6.97 premarket.
Shares of Arch Coal Inc. (ACI) continue to rise--up 5.1% to $7.15 premarket--after a spike Friday following second-quarter results that weren't as bad as expected. The stock received two upgrades this morning, with freshly bullish analyst citing good performance on costs and improved financial flexibility.
Salix Pharmaceuticals Ltd. (SLXP) and Progenics Pharmaceuticals Inc. (PGNX) said the Food and Drug Administration has requested additional clinical data on their treatment for opioid-induced constipation in patients with chronic, non-cancer pain. Shares of Salix fell 10% to $47.75 premarket, while Progenics slipped 44% to $6.10.
Barclays lowered its target price for Credit Suisse Group AG (CS, CSGN.VX) to roughly $15.84 from about $17.37, saying challenges remain for the Swiss bank despite progress with its additional capital measures. Shares fell 3.3% to $17.30 premarket.
AT&T Inc. (T) boosted its buyback program by 300 million shares, as the telecommunications heavyweight seeks to bolster shareholder value.
CVR Energy Inc. (CVI) has named Susan M. Ball its new chief financial officer and treasurer, replacing Frank A. Pici, who is leaving the petroleum company to pursue other opportunities.
The U.S. Securities and Exchange Commission has accused a Hong Kong-based firm of insider trading ahead of the public disclosure that Chinese oil firm Cnooc Ltd. (CEO, 0883.HK) plans to acquire Canadian energy producer Nexen Inc. (NXY, NXY.T).
Quality Systems Inc. (QSII) dissident board member Ahmed Hussein defended his stock sale after the medical-records-software company censured him for violating its insider-trading policy amid an ongoing proxy battle.
Standard & Poor's Ratings Services raised its outlook on United Technologies Corp. (UTX) to stable from negative, after the industrial conglomerate agreed to divest from some businesses, allowing it to raise money that will help fund its roughly $16.4 billion acquisition of Goodrich Corp.
Write to Anna Prior at firstname.lastname@example.org
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