Among the companies with shares expected to actively trade in
Monday's session are General Electric Co. (GE), Campbell Soup Co.
(CPB) and Multimedia Games Holding Co. (MGAM).
Electrolux AB (ELUXY) agreed to pay $3.3 billion for General
Electric's home-appliance division. The deal catapults the Swedish
group into the top ranks of home-equipment suppliers in North
America and allows GE to exit a business that it has been trying to
sell for several years. GE's shares edged up to $26.13 in premarket
trading.
Campbell Soup said it swung to a profit in its latest quarter,
as its Bolthouse and global baking and snacking segment led sales
growth across segments. But the company's expectations for
fiscal-year earnings fell short of market expectations, with
Campbell also warning its efforts to reshape the company are taking
longer than expected. Shares fell 3.2% to $43.12 premarket.
Global Cash Access Holdings Inc. (GCA) agreed to buy growing
casino-games maker Multimedia Games for $1.12 billion in cash.
Global Cash's shares jumped 12.2% to $8.44 premarket, while
Multimedia's shares surged 28.7% to $35.75.
Hertz Global Holdings Inc. (HTZ) said Chairman and Chief
Executive Mark Frissora stepped down for personal reasons and the
car-rental company's board named Brian P. MacDonald, head of its
equipment rental business, as interim CEO. Shares gained 4.6% to
$29.78 premarket.
Hyperion Therapeutics Inc. (HPTX) will end development of its
Type 1 diabetes drug after learning employees of a recently
acquired company manipulated unblinded data. Shares sank 13.7% to
$23.86 premarket.
Dow Chemical Co. (DOW) said Howard I. Ungerleider, a 24-year
veteran of the company, will take over as chief financial officer
on Oct. 1. William H. Weideman, who currently holds the role, will
officially retire at the end of the year after 38 years with
Dow.
KCG Holding Inc. (KCG) agreed to sell its Futures Commission
Merchant business to Wedbush Securities Inc., in a move that
enables Wedbush to expand its futures clearing and execution
services.
Chiquita Brands International Inc. (CQB) invited Brazilian
orange-juice producer Cutrale Group and investment firm Safra Group
to make their best and final offer for the company as it delayed
the shareholder vote on its deal with Irish fruit grower Fyffes PLC
(FFY.DB).
General Motors Co. (GM) plans to launch by 2016 cars with a
hands-free automated driving system and Wi-Fi-enabled
vehicle-to-vehicle communications systems designed to help avoid
collisions.
Baidu Inc. (BIDU) named Zhang Yaqin president for new business.
He had been Microsoft Corp.'s (MSFT) vice president and chairman of
its Asian-Pacific research and development group.
Watchlist:
Fashion-accessories retailer Fossil Group Inc. (FOSL) and Intel
Corp. (INTC) said on Friday they intend to jointly develop
"wearable technology."
Piedmont Natural Gas Co.'s (PNY) fiscal third-quarter loss
widened sharply as the natural-gas distributor reported higher
expenses that offset a meager increase in revenue.
Time Warner Cable Inc. (TWC) filed Friday proxy materials
concerning Comcast Corp.'s (CMCSA, CMCSK) pending $45 billion
purchase of the company.
Barron's Watchlist:
Look for Boeing Co.'s (BA) shares to climb 20% over the next
year to $150, according to a report in Barron's. The report said
growing demand for flights, especially in emerging markets,
combined with fuel-efficiency gains and cheap financing, should
keep earnings moving steadily higher and free cash flow
soaring.
Write to Tom Rojas at tom.rojas@wsj.com and Maria Armental at
maria.armental@wsj.com
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