STZ Constellation Brands Inc

Among the companies with shares expected to trade actively in Wednesday's session are Pfizer Inc. (PFE), Allergan PLC (AGN) and Constellation Brands Inc. (STZ).

Pfizer said Wednesday that it would walk away from its planned $150 billion takeover of Allergan after the Obama administration took aim at the deal that would have moved the biggest drug company in the U.S. to Ireland to lower its taxes. Pfizer shares rose 1.23% to $31.74 in premarket trading. Allergan shares fell 1.92% to $232.00 premarket.

Constellation Brands on Wednesday said that it agreed to acquire the Prisoner Wine Co. portfolio of brands from Huneeus Vintners and that it is weighing a spinoff of its Canadian wine business. The company also posted better-than-expected results for its fourth quarter and gave upbeat guidance for the current year. Shares rose 4.12% to $157.60 premarket.

Monsanto Co. (MON) said profit tumbled in its latest quarter as the world's biggest seller of corn and soybean seeds continues to grapple with an unfavorable agricultural market. Shares fell 1.51% to $84.80 premarket.

Acuity Brands Inc. (AYI) reported its profit jumped 41% in its latest quarter as increased sales volume from recent acquisitions continued to bolster results. Shares rose 7.11% to $241.00 premarket.

Cree Inc. (CREE) said Tuesday that fiscal third-quarter revenue will be lower than expected due to product delays and other issues at its lighting business.

Intel Corp. (INTC) on Tuesday said it is changing its financial reporting structure, a move that will provide more details about three of the chip maker's businesses.

U.S. health regulators have approved for sale Pfizer's lower-priced "biosimilar" version of Remicade, a Johnson & Johnson (JNJ) and Merck & Co. (MRK) treatment for rheumatoid arthritis.

Lumber Liquidators Holdings Inc. (LL) received a favorable ruling Monday in a civil case that had accused it of violating a California state law that requires customer notification of exposure to toxic chemicals.

Plastic manufacturer A. Schulman Inc. (SHLM) on Tuesday reported lower adjusted earnings as the company had deep contractions in its oil and gas business as well as slowdowns in other markets in Europe and North America.

Wynn Resorts Ltd. (WYNN) on Tuesday reported a further slowdown in Macau weighed on its overall results for the March quarter. Preliminary results released by the casino operator for the quarter ended March 31 show revenue and a key earnings metric declining from the year-ago period in Macau, one of the world's biggest gambling centers. Results were relatively flat in Las Vegas.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

April 06, 2016 09:24 ET (13:24 GMT)

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