U.S. Hot Stocks: Hot Stocks to Watch
July 01 2016 - 9:45AM
Dow Jones News
Among the companies with shares expected to trade actively in
Friday's session are Gran Tierra Energy (GTE), Thor Industries Inc.
(THO) and Parkway Properties (PKY).
Oil and natural gas producer Gran Tierra Energy Inc. said Friday
it agreed to buy PetroLatina Energy Ltd. in a $525 million cash
deal, widening its reach in Colombia by adding what it called a
"prolific" production site to its portfolio. Shares fell 0.3% to
$3.37 in premarket trading.
Recreational vehicle maker Thor Industries Inc. said Friday that
it agreed to acquire smaller peer Jayco Corp. for roughly $576
million in cash, expanding its offerings in towable RVs. Shares
rose 3.88% to $67.25 premarket.
Parkway Properties and Cousins Properties will each hold
shareholder meetings Aug. 23 to vote on a merger deal where Parkway
would merge with and into a unit of Cousins Properties. Parkway
Properties shares rose 19.55% to $20.00 premarket.
Arena Pharmaceuticals Inc. (ARNA) will eliminate 100 positions,
about three-quarters of its workforce.
Array BioPharma Inc. (ARRY) has filed a New Drug Application
with the Food and Drug Administration for its cancer drug
binimetinib to treat patients with advanced NRAS-mutant melanoma, a
particularly deadly form of skin cancer.
C&J Energy Services Ltd. (CJES) has reached an agreement in
principle with lenders on a debt-to-equity swap of about $1.4
billion. The oil-field services company also expects to raise new
equity through a rights offering.
CIT Group Inc. (CIT) on Thursday detailed in a regulatory filing
a potential spinoff of its aircraft-leasing business. CIT, which is
narrowing its focus to domestic banking, said it is considering a
spinoff or sale of the business by year's end.
DeVry Education Group Inc. (DV), under pressure from
shareholders and regulators, has added International Value
Advisers' managing partner Michael W. Malafronte to its board under
a standstill agreement that expands DeVry's board to 10 members.
The agreement caps IVA's control at 19.9%, just above the 19.5%
stake it disclosed last week.
Hertz Global Holdings Inc.(HTZ), now Hertz Global, on Thursday
raised $2 billion from the spinoff of its equipment-rental business
and said it would use $395 million to buy back stock. The rest of
the money will largely go to pay down debt, which as of March 31
stood at about $16 billion.
Nike Inc.'s (NKE) co-founder Phil Knight has retired as the
athletic-gear giant's chairman, turning over the position to Chief
Executive Mark Parker. Mr. Knight was appointed as chairman
emeritus and will be able to attend Nike board meetings as an
observer. Meanwhile, Apple Inc. Chief Executive Tim Cook, who has
been on Nike's board since 2005, was appointed lead independent
director.
NuVasive Inc. (NUVA) agreed to pay $45 million to Medtronic PLC
(MDT) in a preliminary settlement of a long-running patent dispute
between the medical device makers.
Steel Dynamics Inc. (STLD) has agreed to buy Vulcan Threaded
Products Inc. for $126 million as part of a strategy intended to
reduce volatility.
Fast-food restaurant chain Wingstop Inc. (WING) has taken on
more debt to pay a special dividend of $2.90 a share next month,
its first dividend payout as a public company.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
July 01, 2016 09:30 ET (13:30 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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