Among the companies with shares expected to actively trade in
Monday's session are McDonald's Corp. (MCD), NRG Energy Inc. (NRG)
and GeoEye Inc. (GEOY).
McDonald's Corp. (MCD) second-quarter earnings fell 4.5% as a
stronger U.S. dollar outweighed better-than-expected same-store
sales at the world's largest fast-food chain. Shares fell 2.2% to
$89.55 premarket as both earnings and revenue for the quarter fell
short of analyst expectations.
NRG Energy Inc. (NRG) said Sunday that it plans to acquire rival
GenOn Energy Inc. (GEN) in a $1.7 billion all-stock deal that would
create the largest competitive power company in the U.S. Shares of
NRG were up 14% to $20.50 premarket while shares of GenOn surged
31% to $2.39.
DigitalGlobe Inc. (DGI) agreed to acquire fellow satellite
imagery company GeoEye Inc. (GEOY) for about $450 million, turning
the tables after GeoEye made public a bid for DigitalGlobe in May.
Shares of GeoEye climbed 45% to $22 premarket; DigitalGlobe shares
were up 15% to $16.30.
China's Cnooc Ltd. (CEO, 0883.HK) said Monday it has reached an
agreement to acquire oil and gas producer Nexen Inc. (NXY) for
$15.1 billion, in what will be China's biggest overseas energy
acquisition to-date. Shares of Nexen surged 56% to $26.52 in
premarket trade, nearing the $27.50 per-share price offered by
Cnooc.
Genesee & Wyoming Inc. (GWR) has agreed to buy RailAmerica
Inc. (RA) for $1.39 billion in cash, a move that combines the two
largest short-line and regional railroad operators in North
America. Shares of RailAmerica jumped 9.2% to $27.10 premarket,
just short of the $27.50 per-share offer price.
Leerink Swann raised its rating for biological testing supplies
producer Luminex Corp. (LMNX) to outperform from market perform,
citing the company's planned acquisition of molecular diagnostic
company GenturaDx and upcoming FDA clearance for its
gastrointestinal pathogen panel. The firm also points out in a note
to clients that Luminex "has less exposure to government budgets
and the weaker euro than many peers." Shares of Luminex were up
2.8% to $17.43 premarket.
Watchlist:
AT&T Inc. (T) said it has reached agreements "in concept"
with the Communications Workers of America in wireline contract
negotiations for about 18,700 employees.
Moody's Investors Service downgraded Booz Allen Hamilton (BAH)
credit rating one notch further into junk territory, pointing to
the consulting firm's shift to an aggressive financial policy after
it proposed paying a special $1 billion dividend.
Halliburton Co.'s (HAL) second-quarter earnings slipped 0.3% as
rising costs and pricing pressures masked the oil-field-services
provider's revenue growth.
Hasbro Inc.'s (HAS) second-quarter profit fell 25% as sales slid
across nearly all major segments, with the boys business suffering
the most as demand for toys tied to Marvel films couldn't match a
strong performance led by "Transformers" and "Beyblade" last
year.
Standard & Poor's Ratings Services boosted its
investment-grade rating on J.B. Hunt Transport Services Inc.
(JBHT), saying the trucking company's earnings and free cash flow
generation have continued to improve.
Mission West Properties (MSW), one of the largest office
landlords in California's Silicon Valley, is in talks to sell
itself to Divco West, a San Francisco real-estate investment firm,
and private equity firm TPG, according to people who have been
briefed on the deal.
Nasdaq OMX Group Inc. (NDAQ) announced plans Friday to increase
compensation to brokers that lost money trading in Facebook Inc.'s
(FB) problematic stock-market debut to $62 million.
PetMed Express Inc.'s (PETS) fiscal first-quarter net income
fell 18% as the retail pet-pharmacy saw declines in average order
sizeits sales weigh on sales. Earnings and revenue for the quarter
missed Wall Street estimates.
Pfizer Inc. (PFE) said its nerve-pain drug Lyrica didn't affect
reproductive function in healthy males compared with a placebo in a
post-approval study required by the U.S. Food and Drug
Administration.
Star Bulk Carriers Corp. (SBLK) said one of its ships has been
docked in South Korea for an estimated four months of repairs after
its engine failed.
Talbots Inc. (TLB) said Pension Benefit Guaranty Corp. won't
take action related to the retailer's acquisition by private-equity
firm Sycamore Partners, paving the way for the deal to close.
Retailer Wet Seal Inc. (WTSLA) fired Chief Executive Susan
McGalla and lowered its current quarter guidance after reporting a
sharp decline in sales so far in July.
-Write to Mia Lamar at mia.lamar@dowjones.com
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