Among the companies with shares expected to actively trade in
Monday's session are Cardinal Health Inc. (CAH), Pike Corp. (PIKE)
and Michael Kors Holdings Ltd. (KORS).
Cardinal Health said its fiscal fourth-quarter revenue declined,
hampered by the expiration of the drug wholesaler's contract with
Walgreen Co. (WAG). But results still topped consensus estimates.
Shares fell 1.2% to $71.52 in premarket trading.
Pike agreed to be taken private by investment firm Court Square
Capital Partners and Chief Executive J. Eric Pike in a deal that
values the company at about $383 million. Shares jumped 47.7% to
$11.76 premarket.
Michael Kors said its fiscal first-quarter profit and sales
jumped as the retailer continued to see strength across its retail,
wholesale and licensing segments. But the company said retail gross
margins declined due to increased markdowns. Shares fell 3.5% to
$79 premarket.
Loews Corp.'s (L) second-quarter net profit fell 57%, but income
from continuing operations rose, driven by higher earnings at CNA
Financial Corp. (CNA) and increased parent company investment
income. Shares were inactive premarket.
Amgen Inc. (AMGN) said its Kyprolis drug met its primary
endpoint in an interim analysis, showing progression-free survival
for patients treated with relapsed multiple myeloma. Shares climbed
3.5% to $129.95 premarket.
Insmed In. (INSM) said it plans to file by the end of 2014 a
marketing authorization application with the European Medicines
Agency for Arikayce for the treatment of nontuberculous
mycobacteria lung infections in treatment refractory patients as
well as for Pseudomonas aeruginosa lung infections in cystic
fibrosis patients. The company also said it will proceed with its
Phase 3 study of the effectiveness of Arikayce for the treatment of
lung infections in the broad NTM population. Shares sank 26.2% to
$12.73 premarket.
Watchlist:
KKR & Co. (KKR) and Rhone Group LLC on Sunday made a
sweetened $3.15 billion takeover bid for Treasury Wine Estates Ltd.
(TSRYY, TWE.AU), prompting the vintner to open up its books as it
continues to grapple with poor U.S. sales and intense competition
at home.
Allergan Inc. (AGN) on Friday filed a federal lawsuit
challenging the legality of Valeant Pharmaceuticals International
Inc.'s (VRX) joint takeover bid with investor William Ackman,
saying their pursuit of the company violated securities laws meant
to prevent investors from profiting from inside information.
Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) posted a
record quarterly profit, a 41% jump tied to gains at its railroad,
energy and other businesses as the U.S. economy continued its
recovery.
Barron's Watchlist:
Shares of EMC Corp. (EMC) have risen nearly 10% recently,
largely as a result of hedge-fund firm Elliott Management taking a
nearly 2% stake in the data-storage company, according to a report
in Barron's. Elliott wants EMC to spin off its VMware unit, which
specializes in data-center software for servers and other
hardware.
Write to Tom Rojas at tom.rojas@wsj.com and Maria Armental at
maria.armental@wsj.com
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