Among the companies whose shares are expected to actively trade
in Tuesday's session are Red Hat Inc. (RHT), AT&T Inc. (T) and
Sprint Nextel Corp. (S).
Red Hat's fiscal third-quarter earnings rose a
stronger-than-expected 47% as the software provider's margins
continued to expand. But shares dropped 8.7% to $42.06 after hours
as revenue rose in line with expectations rather than topping
estimates, as it had in previous quarters.
AT&T bowed to U.S. antitrust authorities and withdrew its
$39 billion acquisition of T-Mobile USA, ending a nine-month fight
to complete a deal many saw as a long shot and leaving both
carriers groping for a way forward. The high-profile defeat came
after AT&T had already pulled its application from the Federal
Communications Commission and put on hold efforts to fight the
Justice Department's suit to block the deal. AT&T shares fell
0.4% to $28.64 after hours. Competitor Sprint, meanwhile, jumped 6%
to $2.29 on the news. Clearwire Corp. (CLWR) a major Sprint
partner, was up 5.4% at $2.14.
Watch List:
AllianceBernstein Holding LP (AB) said the leader of its
sell-side research subsidiary would assume the role of chief
operating officer of the fund manager, as part of organizational
changes to streamline management.
Amgen Inc. (AMGN) and Watson Pharmaceuticals Inc. (WPI) agreed
to work together on several cancer antibody biosimilar products,
which they expect to sell under a joint label. Under the deal,
Amgen will lead the development, manufacturing and initial
commercialization of the oncology antibody products. Watson will
initially receive royalties and sales milestones from product
revenues, and it will contribute up to $400 million in
codevelopment costs as well as share product development risks.
Commercial Metals Co.'s (CMC) board recommended that
shareholders reject Carl Icahn's unsolicited $1.73 billion tender
offer as the scrap-metal processor also projected fiscal
first-quarter earnings far above Wall Street estimates thanks to a
tax benefit.
Moody's Investors Service put Constellation Energy Group Inc.
(CEG) on review for a possible upgrade from the brink of junk after
it and proposed merger partner Exelon Corp. (EXC) reached secured
support from Maryland officials.
Standard & Poor's Ratings Services heightened the chance of
an upgrade for Pall Corp. (PLL), citing solid credit metrics and
good operating performance by the maker of filtration and
purification products.
Sempra Energy (SRE) said it will likely meet or exceed the high
end of its previous full-year earnings guidance following
broad-based improvement in operating performance. The power company
is slated to report its full-year results on Feb. 28.
Southwestern Energy Co. (SWN) said it plans to boost its capital
investment to $2.3 billion in 2012, compared with this year's $2.1
billion outlay, as it looks to boost natural gas production in
regions like Pennsylvania's Marcellus Shale region.
Vulcan Materials Co. (VMC) said it will streamline its business
units and could cut about 200 jobs in a bid to lower costs amid a
hostile takeover bid.
-By Dow Jones Newswires; write to hotstocks@dowjones.com