Among the companies whose shares are expected to actively trade
in Monday's session are Diamond Foods Inc. (DMND), ING Group NV
(ING) and Endo Pharmaceuticals Holdings Inc. (ENDP).
Some walnut growers have challenged Diamond Foods' explanation
of mysterious payments to them, according to The Wall Street
Journal, further tangling an accounting question that has delayed
the snack maker's planned $2.35 billion acquisition of Pringles
from Procter & Gamble Co. (PG). Diamond Foods has said a
sizable payment to its walnut growers in September was an advance
on their 2011 crop. But three growers said they told the company
they didn't intend to deliver their 2011 crops to Diamond, yet were
assured by company representatives they could cash the checks
anyway, The Wall Street Journal reported. Shares fell 7.3% to
$37.60 in recent premarket trading.
ING Monday announced plans to swap EUR5.8 billion in
subordinated debt for senior loans and cash, becoming the latest in
a string of European banks to exchange their own debt at discounted
values and use the gains to strengthen capital. The Dutch bank's
American depository shares fell 8.2% to $7.19 premarket.
Endo Pharmaceuticals said the U.S. Food and Drug Administration
has approved a new formulation of its Opana pain-relief tablets.
Shares climbed 6.6% to $36.25 recently in premarket trading.
Cheniere Energy Partners L.P. (CQP) said a unit has entered into
an agreement with India's GAIL (India) Ltd. (532155.BY) to sell
about 3.5 million metric tons of liquefied natural gas annually.
Shares gained 3.3% to $16.75 in recent premarket trading.
Shortages from Thailand's catastrophic flooding earlier this
year could spread to the market for aircraft tires as soon as
February or March, Goodyear Tire & Rubber Co. (GT) said Friday.
The looming supply squeeze represents a setback for yet another
industry after heavy rains swamped many manufacturing plants around
Thailand's industrial heart in October. Goodyear's shares slipped
1.6% to $14.32 in low volume premarket trading.
PDL BioPharma Inc. (PDLI) said Chief Financial Officer Christine
Larson resigned Friday and the company, which obtains most of its
revenue from development and licensing of antibodies, will
immediately begin a search for her successor. Shares dropped 1.6%
to $5.99 premarket.
Watch List:
Sales of new videogames, consoles and accessories in U.S. stores
were nearly flat again in November, as merchants cut selling prices
in the midst of the holiday-shopping season, according to data
tracker NPD Group. New physical sales of games rose 15% in
November. "Call of Duty: Modern Warfare 3" from Activision Blizzard
Inc. (ATVI) was the most popular game, having launched last
month.
AXIS Capital Holdings Ltd. (AXS) President and Chief Executive
John R. Charman said he plans to retire next year, with Chief
Financial Officer Albert Benchimol taking over.
Dollar Thrifty Automotive Group Inc.'s (DTG) board appointed
Chief Executive Scott L. Thompson its new chairman, replacing
Richard W. Neu, who became the board's lead independent director.
Thompson became CEO at the car-rental company in October 2008 and
was previously the company's chief financial officer.
Fitch Ratings raised the likelihood of a Fifth Third Bancorp
(FITB) upgrade, citing the regional bank's strong earnings, solid
capital-generation capabilities and good liquidity.
Ingersoll-Rand (IR) raised its quarterly dividend by 33%,
marking the second such increase this year from the diversified
manufacturer.
Industrial goods supplier W.W. Grainger Inc. (GWW) reported its
November daily sales rose 15% from a year earlier, helped by
acquisitions and strong volume.
-Edited by Ian Thomson and Corrie Driebusch; write to
ian.thomson@dowjones.com and corrie.driebusch@dowjones.com