Among the companies with shares expected to actively trade in
Monday's session are Theravance Inc. (THRX), Endo Health Solutions
Inc. (ENDP) and Perion Network Ltd. (PERI).
Elan Corp. (ELN) Monday said it had reached a $1 billion deal
with Theravance for a share in the royalty stream of four
respiratory drug programs, as the Irish company fends off
approaches from pharmaceutical investor Royalty Pharma. Theravance
shares rose 13% to $39.50 premarket.
Endo Health Solutions said Friday the U.S. Food and Drug
Administration has denied its petition that would have halted
generic competition to its Opana painkiller on safety grounds. The
move will impact the company's earnings and lead it to explore
options to mitigate the damage. Shares were off 4.9% to $33.25 in
premarket trading.
Digital media company Perion Network reported first-quarter
results that beat analysts' estimates amid record organic and total
revenue growth and what Chief Executive Josef Mandelbaum described
as "enthusiastic acceptance of our new Incredimail for iPad
product." The company also said that it will achieve, and likely
exceed, its 2013 financial outlook. Shares rose 14% to $14.30
premarket.
Bears' skepticism of Uni-Pixel Inc. (UNXL) seems well-placed as
the company is entering a crowded field and aiming to compete
against far more experienced producers, said a recent story in
Barron's. Shares fell 5% to $33.00 premarket.
Watchlist:
Alliant Techsystems Inc. (ATK) has agreed to buy hunting rifles
and shotgun company Caliber Co. for $315 million in cash, a move
that would add long guns to its brands in commercial and security
ammunition, shooting sports and security-related accessories.
Standard & Poor's Ratings Services lowered its outlook on
Alpha Natural Resources Inc. (ANR) to negative from stable, saying
continued weakness in coal markets will likely challenge the
company's operating conditions.
Digital-content distributor Cinedigm Digital Cinema Corp. (CIDM)
cut its view for fiscal 2013, citing delayed delivery and customer
product acceptance.
S&P raised the credit rating on Delta Air Lines Inc. (DAL)
by one step, citing the carrier's gradually improving financial
profile.
S&P boosted its rating on Gap Inc. (GPS) by a notch into
investment-grade territory, saying it expects the retailer to be
able to sustain recent trends in same-store sales growth and margin
expansion.
The U.S. distributor of injectable drugs made by Hospira Inc.
(HSP) is recalling certain lots because of a risk of vein
inflammation, kidney impairment and other serious harm to patients.
Hospira has been troubled by a series of quality-control problems
related to its manufacturing of injectable drugs and infusion
technologies.
Nielsen Holdings NV (NLSN) said some selling shareholders are
offering 35 million shares of the market-research company's stock.
The company, which had 375 million shares outstanding as of March
31, won't receive any proceeds from the offer.
Restoration Hardware Holdings Inc. (RH) has unveiled an offering
of 7.5 million of its shares, as shareholders are continuing to
trim their stake in the retailer. The company won't receive any
proceeds from the sale of shares, which are being offered by
existing shareholders. As of April 16, Restoration had about 38.1
million shares outstanding.
Tessera Technologies Inc. (TSRA) unveiled a special cash
dividend and expects at least $16 million of stock repurchases
through its buyback program over the next year. The dividend of 30
cents a share, payable at the end of May, was determined based on
the episodic revenue the company generated over the preceding four
quarters, net of certain costs. It will cost Tessera $16
million.
Write to Anna Prior at anna.prior@dowjones.com
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