Among the companies with shares expected to actively trade in
Tuesday's session are Elizabeth Arden Inc. (RDEN), Vertex
Pharmaceuticals Inc. (VRTX), Walgreen Co. (WAG) and xG Technology
Inc. (XGTI).
Elizabeth Arden unveiled details of a cost-savings plan that
will include job cuts, supply-chain reorganization and closing its
Puerto Rico affiliate, among other things. Shares fell 7.4% to
$26.20 premarket.
Vertex said that an experimental treatment combined with its
Kalydeco drug significantly improved lung function for a certain
type of cystic fibrosis in a pair of Phase 3 studies. Shares jumped
51% to $100.43 in premarket trading.
Shares of Walgreen fell 1.3% to $72.75 premarket as its top and
bottom lines grew less than expected and the company pulled its
goals for fiscal year 2016, saying key decisions still need to be
made about its Alliance Boots partnership.
xG Technology said the U.S. Army chose it as a subcontractor on
a $497 million communications and networking contract. Shares rose
68% to $3.10.
Watchlist:
Abbott Laboratories (ABT) agreed to acquire Russian drug maker
Veropharm for up to $495 million, a deal that give the U.S.
pharmaceutical company a manufacturing presence in that country.
The deal marks the biggest U.S. deal for a Russian firm since the
Ukraine crisis spiraled out of control this year.
Avon Products Inc. (AVP) plans to cut an additional 600 jobs,
largely in its corporate staff and North America business, as part
of the beauty-products company's ongoing turnaround efforts.
Blackstone Group LP (BX) set plans to pare its stake in Hilton
Worldwide Holdings Inc. (HLT) by about $2 billion, following the
end of the lockup period for the hotelier's initial public
offering.
Dean Foods Co. (DF) recently received a subpoena from criminal
authorities ordering the company to produce information for an
insider-trading investigation of activist investor Carl Icahn, pro
golfer Phil Mickelson and sports bettor William T. Walters, The
Wall Street Journal reported, citing a person familiar with the
matter.
Forest Laboratories Inc. (FRX) reported positive top-line
results from three Phase 3 trials of vilazodone in adult patients
with generalized anxiety disorder.
Micron Technology Inc.'s (MU) profit surged in its fiscal third
quarter, buoyed by the company's acquisition of Elpida Memory Inc.
and signs of stability in one of tech's most turbulent markets.
Refiner Tesoro Corp. (TSO) outlined plans to shift some terminal
and pipeline properties to its limited partnership. Tesoro
Logistics LP (TLLP) plans to acquire three marketing terminals, a
storage facility and a refined-products pipeline for about $270
million, with $243 million expected to be in cash and the remainder
in equity.
Write to Maria Armental at maria.armental@wsj.com
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