Among the companies with shares expected to actively trade in
Monday's session are Visa Inc. (V), MasterCard Inc. (MA) and Par
Pharmaceutical Cos. (PRX).
Merchants reached a $7.25 billion settlement with Visa Inc. (V),
MasterCard Inc. (MA) and several large banks in long-standing
antitrust lawsuits brought by hundreds of merchants over
credit-card processing fees. The deal potentially puts to rest a
lengthy legal battle that has raged on for seven years and been an
overhang on Visa's and MasterCard's shares. Visa shares were last
up 3.5% to $128.40 premarket while MasterCard's shares were up 3.1%
to $443.
Par Pharmaceutical Cos. (PRX) agreed to be taken private by
investment firm Tarrant Capital for $1.84 billion in cash. Under
the pact disclosed Monday, Par has 40 days to seek other proposals.
Shares were last up 36% to $49.92 in premarket trade, nearing the
$50-a-share offer price.
Alnylam Pharmaceuticals Inc. (ALNY) said a Phase 1 study
demonstrated progress for its genetic-disorder treatment ALN-TTR02.
Shares jumped 7.8% to $13.50 premarket.
Analysts at BMO cut their recommendations on Arch Coal Inc.
(ACI) and Alpha Natural Resources Inc. (ANR), citing weak margins
and balance sheets for the energy names. Expected mine closures in
Appalachia could exacerbate financing issues for the companies, BMO
adds. After a "long, hard look at the sector," the firm decides
Cloud Peak Energy Inc. (CLD) and Canada's Teck Resources Ltd. (TCK
TCK.A.T) are relatively better positioned. Shares of Arch Coal
slumped 5.5% to $5.80 premarket while Alpha Natural lost 6.2% to
$7.16.
Watchlist:
Exchange operator CME Group Inc. (CME) said its current system
of customer protection is inadequate after two major futures
brokers failed in less than a year.
Duke Energy Corp. (DUK) named Keith Trent, who most recently led
Duke's commercial business, as the new head of its regulated
utilities business, following the resignation of John McArthur
earlier this week.
Forest Laboratories Inc.'s (FRX) board sent a letter to the drug
maker's shareholders criticizing billionaire investor Carl Icahn's
slate of four board candidates, the latest in a back-and-forth
between the company and the activist shareholder.
J.C. Penney Co. (JCP) was dealt another setback Friday when a
judge granted a preliminary injunction to Macy's Inc. (M) in its
case against Martha Stewart Living Omnimedia Inc. (MSO).
United Parcel Service Inc. (UPS) said its proposed acquisition
of TNT Express N.V. (TNTE.AE, TNTEY) is expected to close in the
fourth quarter as European Union regulatory authorities need more
time to analyze certain areas of the deal.
-Write to Mia Lamar at mia.lamar@dowjones.com