Among the companies with shares expected to actively trade in
Monday's session are Furiex Pharmaceuticals Inc. (FURX) and Susser
Holdings Corp. (SUSS).
Pfizer Inc. (PFE) confirmed Monday that it made a renewed
approach to AstraZeneca PLC (AZN, ANZ.LN) regarding a takeover
valued at nearly $100 billion, but the U.K.-listed pharmaceutical
firm had declined to engage in talks. AstraZeneca's American
depositary shares climbed 16% to $79.60 premarket, while Pfizer
edged up 2% to $31.35.
Biotechnology company Athersys Inc. (ATHX) said interim results
of a mid-stage study of its MultiStem cell therapy for ulcerative
colitis failed to show meaningful benefit in certain cases, though
the treatment had favorable safety and tolerability. Shares plunged
52% to $1.30 premarket.
Comcast Corp. (CMCSA) and Charter Communications Inc. (CHTR)
reached an agreement for Comcast to divest millions of subscribers,
helping it smooth over regulatory concerns involving its $45
billion deal for Time Warner Cable Inc. As part of the agreement,
Comcast will divest about 1.4 million existing Time Warner Cable
customers directly to Charter for cash. Shares of Charter edged up
1.5% to $132 premarket.
Corning Inc. (GLW) said first-quarter earnings slid 39% as the
maker of TV-screen glass posted higher expenses, masking a rise in
revenue. The bottom line slightly topped estimates, pushing shares
up 3.7% to $21.50 premarket.
Forest Laboratories Inc. (FRX) agreed to acquire Furiex
Pharmaceuticals in a deal worth up to $1.33 billion that expands
Forest Labs' presence in gastroenterology. Furiex surged 28% to
$102.21 premarket.
GW Pharmaceuticals PLC (GWPH, GWP.LN), a biopharmaceutical
company, said the U.S. Food and Drug Administration will allow pain
treatment Sativex, which is used for patients with advanced cancer,
to be fast tracked. Shares climbed 10% to $68.53 premarket.
Energy Transfer Partners LP (ETP) on Monday said it reached a
deal to buy Susser for about $1.8 billion, as it looks to create a
standalone retail business with ETP's Sunoco Inc. as the
centerpiece. Susser shares surged 33% to $76.10 premarket.
Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) and
OncoGenex Pharmaceuticals Inc. (OGXI) said their experimental drug
for hard-to-treat cases of prostate cancer didn't result in
statistically significant improvement in overall survival in a
Phase 3 study. OncoGenex shares dropped 48% to $5 premarket.
Watch List:
Laboratory Corp. of America Holdings (LH) said its first-quarter
earnings fell 23%, as severe winter weather dented its sales.
Results missed expectations, but the company raised its earnings
guidance for the year.
Loews Corp. (L) and CNA Financial Corp. (CNA) each posted a
decline in first-quarter profit related to the pending sale of an
annuity and pension business. Loews, controlled by the Tisch
family, owns 90% of CNA, which usually contributes nearly
two-thirds of Loews' top line.
Chinese solar-products company Renesola Ltd. (SOL) on Monday
said it had appointed Daniel Lee as its chief financial officer,
effective May 5. Mr. Lee will take over for Henry Wang, who is
resigning May 4 for personal reasons, the company said.
Write to Lauren Pollock at lauren.pollock@wsj.com
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