Among the companies with shares expected to actively trade in
Wednesday's session are Barnes & Noble Inc. (BKS), Monsanto Co.
(MON) and Sequential Brands Group Inc. (SQBG).
Barnes & Noble Inc. (BKS) said Wednesday that its board has
authorized the company to pursue a split of its retail and Nook
businesses into two separate public companies. The bookseller has
struggled as its Nook device--the company's bid to compete with
Amazon.com's edge in the e-book market--has failed to catch on.
Shares rose 7.7% to $22.15 premarket.
Monsanto Co. (MON) said its fiscal third-quarter earnings fell
6% on higher costs but still beat expectations. The seed-and
herbicide company also unveiled a new two-year $10 billion share
purchase program and raised the lower end of its per-share earnings
and adjusted earnings estimates for the fiscal year. Shares rose
5.2% to $126.89 premarket.
Sequential Brands Group Inc. (SQBG) agreed to buy rival Galaxy
Brand Holdings in a deal that would double the size of the brand
licensing company. New York-based Sequential is set to pay $260
million for Galaxy, with $100 million in cash and the rest in
stock. Sequential Brands shares rose 15% to $13.40 premarket.
Aerie Pharmaceuticals Inc. (AERI) said its once-daily glaucoma
treatment proved in a mid-stage trial to be statistically superior
to each of its two components. Shares rose 43% to $30
premarket.
Affymax Inc.'s (AFFY) board approved plans to liquidate the
biopharmaceutical company in the wake of adverse reactions to the
anemia drug Omontys. Shares dropped 48% to 15 cents premarket.
Apollo Education Group Inc. (APOL) said its fiscal third-quarter
earnings fell 17% as the for-profit education company continued to
report declining enrollment. Still, shares edged up 2.1% to $29.90
in premarket trading as results topped Wall Street's expectations.
Shares rose 22 cents to $29.50 premarket.
Bristol-Myers Squibb Co. (BMY) said a Phase 3 study of its
nivolumab treatment for melanoma was stopped early after an
analysis by an independent Data Monitoring Committee showed
evidence of superior overall survival compared with another
therapy. Shares rose 2% to $49.20 premarket.
General Mills Inc. (GIS) said it would cut costs after the
packaged-foods maker's promotional push in its fiscal fourth
quarter yielded underwhelming results. Shares fell 3.4% to $51.89
in recent premarket trading as sales and earnings missed analysts'
expectations.
HanesBrands Inc. (HBI) said it reached a deal to expand into
Europe by acquiring French underwear maker DBApparel from Sun
Capital Partners Inc. Hanes said its offer values DBA at about $550
million, with the inclusion of debt. Shares rose 6.8% to $94.60
premarket.
IMS Health Holdings Inc. (IMS) said Tuesday that it intends to
buy Cegedim SA's (CGM.FR) information services and consumer
relationship management units for about $520 million in cash.
Shares rose 7.7% to $25 premarket.
Insys Therapeutics Inc. (INSY) said on Wednesday that the U.S.
Food and Drug Administration has granted orphan drug designation to
the company's cannabis-based pediatric-onset epilepsy treatment.
Shares rose 5.1% to $30.50 premarket.
Lindsay Corp. (LNN) said its fiscal third-quarter earnings fell
37% as revenue declined and recent instability in the Middle East
and Ukraine complicated contracts. Results missed expectations.
Shares fell 5.2% to $83.50 premarket.
Watch List:
Apogee Enterprises Inc.'s (APOG) first-quarter profit jumped 47%
as the window systems manufacturer reported higher sales and
backlog across all architectural segments.
CIT Group Inc. (CIT) said it intends to boost its quarterly
dividend by 50% to 15 cents. The increase would raise the company's
dividend yield to about 1.3% from 0.9%, based on Tuesday's closing
share price of $45.16.
Healthcare logistics company Owens & Minor Inc. (OMI) said
it has agreed to acquire Medical Action Industries Inc. (MDCI) in a
cash deal that values the maker of disposable medical and surgical
products at about $226 million. The companies said Owens &
Minor will acquire all outstanding shares of Medical Action for
$13.80 a share in cash, representing a 95% premium to Tuesday's
close.
Team Inc. (TISI) lowered its earnings projections for its last
fiscal quarter, citing deferred projects and lower activity levels
coupled with higher-than-anticipated costs.
Valmont Industries Inc. (VMI) said it expects to post weaker
second-quarter results, citing a weaker Australian economy and an
unfavorable mix and timing of projects.
Write to Maria Armental at maria.armental@wsj.com
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