Among the companies with shares expected to actively trade in
Monday's session are Orchard Supply Hardware Stores Corp. (OSH),
Terex Corp. (TEX) and Zoetis Inc. (ZTS).
Orchard Supply Hardware filed for Chapter 11 bankruptcy
protection Monday with plans to sell itself to Lowe's Cos. (LOW),
subject to higher bids at auction. Lowe's is offering $205 million
in cash for at least 60 of the fellow hardware chain's stores, an
offer that Orchard will ask the U.S. Bankruptcy Court in
Wilmington, Del., to let it put to the test at an auction. Orchard
hopes to the complete a sale within 90 days. Orchard shares jumped
65% to $3.10 premarket.
Terex lowered its full-year 2013 guidance, with Chief Executive
Ron DeFeo saying that "the level of sales growth has softened
overall for Terex when compared with the increases we originally
anticipated for 2013." Shares fell 13% to $27.52 premarket.
Zoetis Inc. will join the S&P 500 index, after Pfizer Inc.
(PFE) splits off its remaining 80% stake in the animal-medicine
company, and will replace First Horizon National Corp. (FHN),
S&P Dow Jones Indices said. Zoetis's shares rose 2% to $31.40
premarket.
Watchlist:
ING Groep N.V. (ING, INGA.AE) agreed to sell ING Hipotecaria,
its mortgage business in Mexico, to Grupo Financiero Santander
Mexico S.A.B. de C.V. (BSMX, SANMEX.MX) for about $50 million in
cash, as part of ING's effort to divest its insurance and
investment-management businesses.
Standard & Poor's Ratings Services upgraded its rating on
Lions Gate Entertainment Corp. (LGF), citing significant
improvement in the movie studio's credit metrics since it closed
its acquisition of Summit Entertainment last year.
Knight Capital Group Inc. (KCG) and Getco LLC have reached an
agreement in principle to settle three class-action lawsuits from
Knight stockholders that challenged the proposed merger of the two
firms, Knight disclosed in a regulatory filing.
Standard & Poor's Rating Services raised the outlook for
Lockheed Martin Corp. (LMT) to stable from negative, saying it
believes the defense contractor will be able to generate
significant free-cash flow despite lower demand from the U.S.
government.
Pinnacle Entertainment Inc. (PNK) agreed to sell some properties
in order to obtain U.S. Federal Trade Commission approval of its
roughly $869 million acquisition of fellow casino-hotel operator
Ameristar Casinos Inc. (ASCA).
PVR Partners LP (PVR) filed plans to offer up to $150 million of
common units representing limited partner interests, as the company
looks to raise funds for general partnership purposes. PVR, which
owns coal and natural-resource properties as well as midstream
natural-gas gathering and processing businesses, had a recent
market capitalization of $3.19 billion, according to FactSet
Research.
Standard & Poor's Ratings Services has placed the credit
rating for Spectra Energy Corp. (SE) on watch for downgrade after
the U.S. midstream-energy company said it would sell some assets to
its master limited partnership.
Coal producer Walter Energy Inc. (WLT) confirmed it won't
proceed with refinancing a portion of its existing debt.
Write to Anna Prior at anna.prior@dowjones.com
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