Among the companies with shares expected to actively trade in
Monday's session are Caterpillar Inc. (CAT) and Rayonier Inc.
(RYN).
American Electric Power Co. (AEP) said its fourth-quarter
earnings soared, as growth in most of its utility operations and
benefits from rate decisions offset customers losses after
divesting its Ohio business. Results beat expectations, pushing
shares up 2.2% to $47.80 premarket.
Apple Inc. (AAPL) is laying the groundwork for an expanded
mobile-payments service, leveraging its growing base of iPhone and
iPad users and the hundreds of millions of credit cards on file
through its iTunes stores. Additionally, the Justice Department
filed opposition to Apple's push to block a court-appointed monitor
of its e-book pricing reform. In a court filing Friday, the Justice
Department said Apple's motion failed "to establish irreparable
harm" from having a monitor. Shares edged up 0.9% to $550.75
premarket.
Caterpillar said its fourth-quarter earnings rose 44%, as the
heavy-equipment maker cut costs to help offset a continuing decline
in mining-machinery revenue. Shares rose 7.1% to $92.30 in
premarket trading as the results topped consensus estimates and the
company gave a promising outlook for the just-started year.
Rayonier unveiled plans to separate into two publicly traded
companies this year, pointing to the expansion of its
performance-fibers business and an improved housing and timber
market that have positioned its businesses to grow independently.
Shares rose 8.5% to $44.69 in premarket trading.
Watch List:
Comcast Corp. (CMCSA) is much more likely to work with Charter
Communications Inc. (CHTR) on a bid for Time Warner Cable Inc.
(TWC) than to pursue an offer on its own, said a person familiar
with the situation--a major boost to Charter's hopes of winning the
takeover battle.
DirecTV (DTV) Chief Executive Mike White says the Weather
Channel is worth only "one quarter of the price" the channel wants
the satellite operator to pay, underlining how far apart the
companies are in the fee dispute that has blacked the channel out
on the satellite service for 10 days.
KKR & Co. (KKR), together with Sedgwick Claims Management
Services Inc.'s management, agreed to acquire a majority stake in
Sedgwick for about $2.4 billion from its current investors, which
include Hellman & Friedman LLC and Stone Point Capital LLC.
Pepco Holdings Inc. (POM) said Chairman and Chief Executive
Joseph M. Rigby plans to step down as CEO near the end of this year
after a successor is named. Mr. Rigby plans to stay on as the power
company's chairman until next year's annual shareholders meeting to
assist in the transition. He plans to retire from the company in
the first half of 2015.
Pfizer Inc. (PFE) said its treatment for advanced nonsmall cell
lung cancer didn't meet goals in two Phase III studies. Both trials
evaluated the therapy--called dacomitinib--in populations of
previously treated patients. In the first study, the treatment
didn't meet its objective of demonstrating statistically
significant improvement in progression-free survival when compared
with cancer drug erlotinib. In the second trial, the therapy didn't
meet its objective of prolonging overall survival versus a
placebo.
A committee formed by Sirius XM Holdings Inc. (SIRI) has hired
financial and legal advisers to help the company evaluate a
takeover offer by media-investment company Liberty Media Corp.
(LMCA).
Wal-Mart Stores Inc. (WMT) is laying off about 2,300 employees
at its Sam's Club warehouse unit to help thin the ranks of middle
managers in its weakest stores, marking the club chain's biggest
round of job cuts in four years.
Write to Michael Calia at michael.calia@wsj.com and Lauren
Pollock at lauren.pollock@wsj.com
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