IBM TO TRANSFER CHIP OPS; REVENUE DROPS AGAIN

IBM posted sharply lower earnings in its third quarter as sales fell across most of its segments and it unveiled a deal to transfer its semiconductor operations to Globalfoundries. IBM shares down 7% premarket.

SAP NET PROFIT RISES 15%, CUTS OUTLOOK

Enterprise software provider SAP lowered its earnings outlook for this year Monday, even as it reported a 15% increase in third-quarter net profit, boosted by growth in subscriptions for its cloud-based software products.

SEARS SEEKS NEW CASH VIA TWO PATHS

Sears unveiled measures in a bid to raise cash, one of which again taps into the hedge fund of its billionaire CEO. It said it would lease seven locations to European fashion retailer Primark, and it unveiled an offering of debt rights and warrants.

CANADIAN PACIFIC, CSX TALKS END

Canadian Pacific Railway said exploratory talks with CSX about a possible merger have ended and no further discussions are planned. CP didn't provide a reason for the scuttled talks.

PLATFORM SPECIALTY PRODUCTS TO BUY ARYSTA LIFESCIENCE

Platform Specialty Products, an acquisitive chemical company part-owned by activist investor William Ackman, confirmed it will acquire rival Arysta LifeScience for about $3.51 billion.

SHELL MIDSTREAM PARTNERS LAUNCH IPO IN NEW YORK

Shell Midstream Partners, a limited partnership formed by Anglo-Dutch Oil giant Royal Dutch Shell, Monday launched an initial public offering of 37.5 million common units in New York.

VENTURE CAPITALIST ANDREESSEN TO LEAVE EBAY BOARD

EBay said venture capitalist Marc Andreessen has decided to resign from the company's board. His resignation follows eBay's announcement last month that it would spin off its PayPal unit.

RUSSIA, UKRAINE EDGE CLOSER TO NATURAL-GAS DEAL

Russia and Ukraine have agreed a price for winter gas supplies, officials from both countries said, moving closer to a deal that would ease concerns that the countries' dispute could disrupt supplies to Europe.

CONSORTIUM SEEKS TO BUY REEBOK FROM ADIDAS

A consortium of investors from Hong Kong and Abu Dhabi is launching a bid to buy Reebok from Adidas, in a move that, if successful, would unwind an eight-year-old marriage of sneaker makers that has shown disappointing results.

HALLIBURTON INCREASES DIVIDEND; REVENUE RISES 16%

Halliburton said its board has approved a 20% increase to its quarterly dividend, raising it to 18c a share, while also reporting a 16% jump in 3Q revenue. Overall, the company reported a profit of $1.2 billion, or $1.41 a share.

BOYS' TOYS DRIVE HASBRO TO PROFIT BUMP

Toy maker Hasbro said that strong sales growth in its boys' division helped drive a 43% earnings boost. Hasbro posted a profit of $180.5 million, or $1.40 a share as revenue increased 7.2% to $1.47 billion.

VALEANT PUSHES BUSINESS STRENGTH AS EARNINGS TOP EXPECTATIONS

Valeant Pharmaceuticals, whose business model has been criticized by buyout target Allergan, posted earnings of $275.4 million, or 81c a share, exceeding expectations. Revenue improved 33% to just under $2.06 billion.

NUTRECO AGREES TO SHV'S TAKEOVER OFFER

SHV said it will buy Dutch animal-feed maker Nutreco for EUR2.7 billion ($3.4 billion), in the latest sign that the growing global demand for meat and fish is fueling appetite for acquisitions in the food industry.

EU, CHINA COMPLETE DEAL ON TELECOMS EQUIPMENT

The E.U. and China completed a deal that will end the threat of punitive import tariffs on Chinese telecommunications equipment makers Huawei Technologies Co. and ZTE Corp., people familiar with the agreement said.

LUFTHANSA PILOTS TO EXPAND STRIKE

German union Vereinigung Cockpit said Monday it has called Deutsche Lufthansa pilots to expand their strike to some long-haul flights on Tuesday.

PHILIPS SWINGS TO LOSS

Royal Philips' CEO vowed to get the Dutch electronics and lighting group's business back on track after it swung to a net loss in the third quarter due to problems at one of its U.S. health-care plants and legal provisions.