Among the companies with shares expected to actively trade in
Monday's session are Arkansas Best Corp. (ABFS), Tyson Foods Inc.
(TSN) and Apollo Global Management LLC (APO).
Transportation company Arkansas Best said its largest
subsidiary, ABF Freight System Inc., reached a tentative agreement
on a five-year labor contract with the Teamsters National Freight
Industry Negotiating Committee, the negotiating arm of the
International Brotherhood of Teamsters, according to a regulatory
filing after market hours on Friday. Shares rose 19% to $12.60
premarket.
Tyson's fiscal second-quarter earnings fell 43% as higher beef
and chicken prices weren't enough to offset the meat processor's
increased costs. Earnings-per share surprisingly fell 18% last
quarter, while revenue didn't rise as much as analysts anticipated.
The company also lowered its full-year sales estimate. Shares fell
6.1% to $23.41 premarket.
Apollo Global Management reported a big first-quarter beat, as
the private-equity company saw a large jump in assets under
management, particularly in the credit space, while the firm
continued to cash in on winning past investments. Class A shares
rose 9.1% to $29 premarket.
A recent story in Barron's said oil and natural-gas developer
Linn Energy LLC (LINE) might be the country's most overpriced large
energy producer, adding that the firm's partnership units may be
worth less than half of their current quote based on a range of
financial measures, including book value, cash flow and the value
of energy reserves. Linn shares fell 3.1% to $36.53 premarket,
while shares of LinnCo LLC (LNCO)--which is formerly a unit of Linn
Energy and has no assets or operations other than to own interest
in Linn Energy--dropped 5.6% to $39.50.
Crestwood Midstream Partners LP (CMLP) and Inergy L.P. (NRGY)
agreed to merge in a complex cash-and-stock deal that aims to
create a fully integrated midstream partnership focused on rapidly
developing U.S. shale energy plays. Inergy shares rose 4% to $22.89
premarket.
Watchlist:
Moody's Investors Service raised its outlook on Aon PLC (AON) to
positive from stable, citing expectations the insurance brokerage
will continue to improve its financial leverage and fixed charge
coverage metrics through earnings growth and cash contributions to
its underfunded pension plans.
Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) on Friday
said first-quarter profit jumped 51% on improvements at key
insurance operations and rising profits at its railroad.
Bristol-Myers Squibb Co. (BMY) and AstraZeneca PLC (AZN) said a
year-long study of metreleptin showed it reduced average blood
sugar levels in pediatric patients with lipodystrophy.
Covidien PLC (COV) has reduced its full-year net sales guidance
after factoring in the impending spinoff of its pharmaceuticals
business, while adjusting its financial statements for the past
three years.
E.W. Scripps Co.'s (SSP) first-quarter loss narrowed thanks to
lower expenses, though the newspaper and television company
reported advertising sales fell amid weaker political
advertising.
Standard & Poor's Ratings Services cut its rating on Hospira
Inc. (HSP) by two notches, citing the generic-injectable-drug
manufacturer's drawn-out manufacturing problems and product
replacements.
Real-estate investment trust Macerich Co. (MAC) will join the
S&P 500 index, replacing managed-care company Coventry Health
Care Inc. (CVH) following its acquisition by Aetna Inc. (AET),
S&P Dow Jones Indices said.
Moody's Investors Service has lifted the ratings outlook for
Marsh & McLennan Cos. (MMC) to positive from stable, citing
favorable trends in the professional-services company's profit
margins and financial flexibility metrics.
Meritor Inc.'s (MTOR) board says its chairman, chief executive
and president, Charles G. McClure, is leaving the producer of parts
for commercial vehicles, and has named Ivor J. Evans as its new
chairman.
Stein Mart Inc. (SMRT) regained compliance with Nasdaq rules as
it filed financial results for its second through fourth quarters
of fiscal 2012, and restated results for previous periods. The
clothing and home furniture retailer, which has been plagued by
accounting errors, said its fiscal fourth-quarter earnings more
than doubled as same-store sales increased. The company said it
plans to continue with its strategy of coupons and lowered prices,
which is expected to result in slightly narrower gross margins in
the current year.
Write to Anna Prior at anna.prior@dowjones.com
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