Among the companies with shares expected to actively trade in Monday’s session is Herbalife Ltd.(HLF), Altria Group(MO), and Pfizer Inc.(PFE)
Herbalife Ltd. raised its fourth-quarter outlook and boosted its stock buyback program, but provided a weak estimate for its first quarter. Herbalife sells a range of products, including weight-loss shakes and fitness supplements, operating through a wide global network of independent distributors. Shares edged up 2.5% to $66 premarket.
Cigarette maker Altria Group Inc. agreed to buy Green Smoke Inc. for about $110 million in cash, adding to a growing trend of big tobacco companies jumping into the nascent e-cigarette market. Green Smoke, founded in 2008, has operations in the U.S. and Israel and has sold e-cigarette products since 2009, mostly in the U.S. Its revenue last year was about $40 million, just a tiny fraction of Altria’s $24.5 billion in 2013 revenue.
Activist investor William A. Ackman’s Pershing Square scaled back its stake in Beam Inc.(BEAM) to 8.3%, weeks after the alcoholic-beverage maker agreed to be taken over by Japanese company Suntory. The firm had been the largest shareholder in Beam, with a stake of about 13%.
International Business Machines Corp.(IBM) Chief Executive Ginni Rometty and her senior executive team will forgo annual bonuses for 2013 because of poor results. Ms. Rometty and the executives had proposed the move last week after the company reported that its revenue fell 4.6% in 2013 amid continued hardware struggles. The computer giant said in a filing Friday that the compensation committee approved the recommendation.
Pfizer Inc. said a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. A study comparing the effects of a combination treatment of palbociclib and letrozole with letrozole alone showed that the combination of treatments had significantly improved progression-free survival in post-menopausal women with certain types of locally advanced or newly diagnosed metastatic breast cancer.
Post Holdings Inc.(POST) agreed to acquire the PowerBar and Musashi brands from Nestle SA(NESN.VX), further expanding the cereal maker’s position in the active nutrition category.
Sysco Corp.(SYY) said its fiscal second-quarter earnings fell 4.8% as higher expenses overshadowed revenue growth. The food-service distributor’s revenue grew less than expected.
Violin Memory Inc.(VMEM) named Kevin A. DeNuccio as chief executive after firing prior CEO Don Basile in December because of the company’s poor performance. The flash-storage company posted disappointing third-quarter results and a sagging stock price.
Trucking company YRC Worldwide Inc.(YRCW) said Friday it had cut its large debt load by about $300 million while offering $250 million in stock, the proceeds of which will be used to retire convertible notes. About $50 million in the principal amount of other convertible notes were swapped or converted to common stock, the company said.
No comments:
Post a Comment