Among the companies with shares expected to actively trade in
Tuesday's session are Dole Food Co. (DOLE), Lululemon Athletica
Inc. (LULU) and Corinthian Colleges Inc. (COCO).
Dole Chairman and Chief Executive David H. Murdock has offered
to buy out the fruit-and-vegetable producer in a deal that values
Dole at roughly $1.5 billion. Mr. Murdock--Dole's largest
shareholder with about 40% of stock outstanding--has offered to pay
$12 per Dole share, an 18% premium to Monday's close. Shares rose
24% to $12.66 premarket.
Lululemon said Monday that Chief Executive Christine Day will
step down after her successor is found. The announcement comes
three months after the company was embarrassed by a recall of yoga
pants because the fabric was too see-through. Shares tumbled 15% to
$70.20 premarket.
Corinthian Colleges said it is under investigation by the U.S.
Securities and Exchange Commission, and has received a subpoena for
records related to recruitment, student-loan defaults and other
matters. Shares slumped 14% to $2.39 premarket.
Health insurer Cigna Corp. (CI) has decided to expand its
relationship with pharmacy-benefit manager Catamaran Corp. (CTRX)
through a new 10-year deal that Cigna said will combine the two
companies' drug-purchasing scale while adding to the insurers'
earnings. Catamaran's shares climbed 13% to $55.00 premarket.
Questcor Pharmaceuticals Inc. (QCOR) acquired rights to develop
Synacthen and Synacthen Depot in the U.S. from Novartis AG (NVS,
NOVN.VX) in a deal valued at least $135 million, expanding the
biopharmaceutical company's presence in treatments for inflammatory
and autoimmune disorders. Questcor shares rose 17% to $43.00
premarket.
CardioNet Inc. (BEAT) has signed a three-year deal allowing its
wireless medical devices to be covered by UnitedHealthcare Group
Inc. (UNH). Shares of CardioNet soared 42% to $4.55 premarket.
LDK Solar Co. (LDK) slightly widened its fiscal first-quarter
loss as the Chinese solar-wafer maker logged wafer shipments below
expectations, along with a double-digit percentage slump in
revenue. American depositary shares fell 13% to $1.43
premarket.
Crosstex Energy L.P. (XTEX) is offering 6 million units
representing limited partner interests. The company plans to use
the proceeds in part for capital expenditures, including for the
expansion of its Cajun-Sibon natural gas liquids pipeline. Units
slipped 5.4% to $19.96 premarket.
Diamond Foods Inc.'s (DMND) fiscal third-quarter loss narrowed
as the embattled snack-and-nut company's margins improved, though
nut sales weakened. Still, Diamond reported a surprise adjusted
profit and revenue beat analysts' expectations. The company also
appointed Raymond P. Silcock as its new chief financial officer.
Shares were up 2.1% to $17.91 premarket.
Canadian mining company Kinross Gold Corporation (KGC, K.T) said
Monday it will pull out of Ecuador after failing to reach a final
agreement with the government of President Rafael Correa on the
Fruta del Norte deposit. Shares slipped 5.5% to $5.97
premarket.
Excel Maritime Carriers Ltd. (EXM) reached a debt restructuring
agreement with senior lenders that will also give the dry bulk
carrier up to a $50 million capital infusion and access to
previously restricted cash. Shares dropped 14% to 40 cents in light
premarket trading as Excel said it and certain subsidiaries will
implement the restructuring through a court supervised prepackaged
plan of reorganization.
Watchlist:
Bright Horizons Family Solutions Inc. (BFAM) said certain
shareholders intend to offer 8.5 million shares. The child-care
services provider won't receive proceeds from the offering.
General Mills Inc. (GIS) raised its 2013 guidance and reiterated
its expectations for the next fiscal year.
Himax Technologies Inc. (HIMX) said its shareholder Innolux
Corp. (3481.TW) is offering 22.1 million of its American depositary
shares. Himax, which makes semiconductors for flat-panel screens,
won't receive any proceeds from the sale.
Navistar International Corp.'s (NAV) second-quarter loss swelled
from higher warranty expenses on truck engines and a 34% drop in
sales of trucks as the company switched it treatment system for
diesel engine exhaust.
Oneok Inc. (OKE) said it will exit the energy-services business,
resulting in a writedown and lower-than-expected income for the
full year.
Pep Boys-Manny Moe & Jack's (PBY) first-quarter profit more
than tripled as the auto-care company benefited from a large tax
benefit. However, per-share earnings missed analysts'
expectations.
Texas Instruments Inc. (TXN) narrowed its second-quarter profit
and revenue outlook.
Recreational-vehicle maker Thor Industries Inc. (THO) has named
Bob Martin, currently president and chief operating officer, as its
new chief executive officer, effective Aug. 1.
Timken Co. (TKR) said it is considering spinning off its steel
business, a move urged by an activist investor and supported by
shareholders.
United Continental Holdings Inc.'s (UAL) consolidated traffic
fell 0.8% in May, as the carrier's capacity also declined.
Write to Anna Prior at anna.prior@dowjones.com
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