Stocks to Watch: Mylan, Merck, Booz Allen, Cooper Tire, Mohawk Industries and More
July 29 2019 - 9:47AM
Dow Jones News
By Ira Iosebashvili
Here are some of the companies with shares expected to trade
actively in Monday's session. Stock movements noted by ticker
reflect movements during regular trading hours; premarket trading
is specified separately.
Mylan N.V. -- Up 14% premarket: The drug company said Monday
that it is merging with Upjohn, an off-patent branded division of
Pfizer. Mylan and Pfizer expect between $19 billion and $20 billion
in pro forma revenue from the deal.
Merck & Co. Inc. -- Up 0.7% premarket: The pharmaceutical
company said that a phase 3 study of its cancer drug Keytruda
reached one of dual-primary endpoints in patients with
triple-negative breast cancer when the drug was used with
chemotherapy.
Booz Allen Hamilton Holding Corp. -- Up 4.9% premarket: The
company reported a 13% increase profit, and reported earnings per
share and revenue that beat analysts' estimates. The company also
reaffirmed its guidance.
Cooper Tire & Rubber Co. -- Down 11% premarket: The tire
manufacturer said Monday that it took a combined $15 million hit
from tariffs associated from Chinese-imported goods and
restructuring costs from stopping light vehicle tire production at
an England facility. The company said that it doesn't expect full
year unit volume to rise year over year.
Mohawk Industries Inc. -- Down 0.3% premarket: Shares of the
flooring company fell 17.6% Friday, a day after it reported
lackluster second-quarter sales and said its business environment
would remain challenging.
Cabot Oil & Gas Corp. -- Up 0.3% premarket: The company's
shares fell 12% after it reduced production estimates amid a
meltdown in the natural-gas market.
Zimmer Biomet Holdings Inc. -- Up 0.7% premarket: The
medical-device maker's stock hit a new all-time high Friday, after
the company reported better-than-expected second-quarter results
and boosted its financial forecast for 2019.
This is a version of the "Stocks to Watch" section of our
Markets newsletter. To receive it every morning via email, click
here.
Write to Ira Iosebashvili at ira.iosebashvili@wsj.com
(END) Dow Jones Newswires
July 29, 2019 09:32 ET (13:32 GMT)
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