Among the companies with shares expected to actively trade in
Tuesday's session are TNS Inc. (TNS), Urban Outfitters Inc. (URBN)
and HCA Holdings Inc. (HCA).
TNS has agreed to be acquired by an investor group led by Siris
Capital Group in a cash deal that values the company at roughly
$516 million as it looks to focus on building data communications
applications. Shares of TNS surged 45% to $21.07 premarket, just
above the offer price of $21 per share, which is a 44% premium over
its Monday close.
Urban Outfitters offered a better-than-expected snapshot of its
fourth quarter, saying in a filing after the market close that
same-store sales in its retail business are "high single-digit
positive" so far this quarter. Janney on Friday said consensus was
for a mid-single digit gain, given strong Black Friday showings at
the company's namesake and FreePeople shops. Shares jumped 7% to
$39.59 premarket.
HCA Holdings Inc. (HCA) said its two biggest stockholders are
offering 32 million shares as they wind down their interest in the
operator of private hospitals. Shares slipped 3.8% to $32.60
premarket.
SPX Corp. (SPW) has emerged as the front-runner in the auction
of industrial-pumps maker Gardner Denver Inc. (GDI), with the two
companies entering into one-on-one talks this week with the goal of
hammering out a deal, according to a story in The Wall Street
Journal, which cites people familiar with the matter. Gardner
Denver shares rose 4.9% to $71.51 premarket, while SPX shares fell
4.9% to $65.00.
Limited Brands Inc. (LTD) unveiled a special dividend of $3 a
share, which will be paid on Dec. 26, joining a growing list of
companies that have declared special dividends ahead of next year's
possible "fiscal-cliff." The retailer's shares were up 2.7% to
$52.00 premarket.
Hertz Global Holdings Inc. (HTZ) said its three biggest
stockholders are selling 50 million shares. Funds affiliated with
Clayton Dubilier & Rice Inc., Carlyle Group L.P. (CG) and Bank
of America Corp.'s (BAC) Merrill Lynch recently held a 38% stake in
the company, or around 160 million shares. After the offering, the
funds will continue to hold a roughly 26% interest in the car
rental company. Shares fell 3.2% to $15.70 premarket.
Kinder Morgan Energy Partners L.P. (KMP) is offering 3.9 million
units as it seeks to pay down commercial paper debt. The pipeline
operator recently had around 246.1 million units outstanding.
Separately, Spectra Energy Corp. (SE) has agreed to buy Kinder
Morgan's one-third stake in the Express-Platte pipeline system for
about $380 million pre-tax as part of a larger deal whereby the
operator of natural-gas pipelines and storage facilities is buying
100% of Express-Platte for about $1.25 billion in cash in a push to
participate in the growing North American crude oil pipeline
market. Kinder Morgan units fell 2.6% premarket to $78.48, while
Spectra shares were down 2.7% to $26.61.
Diageo Plc (DEO, DGE.LN) walked away from Jose Cuervo, the
world's best-selling tequila, after failing to reach a deal with
Mexico's Beckmann family to buy a stake in the brand. The
U.K.-based spirits maker will lose the brand entirely as its
distribution contract for Jose Cuervo expires at the end of June
next year. Bernstein Securities called the failure to secure an
equity deal a disappointment for Diageo. U.S.-listed share fell 1%
to $119.93 premarket.
Celldex Therapeutics Inc. (CLDX) announced positive results from
a phase 1 multi-dose study of CDX-301, saying the data confirms
previous studies and supports continued development of CDX-301,
both alone and in combination with other Celldex assets. Shares
rose 4.6% to $7.25 premarket.
Watchlist:
ABM Industries Inc.'s (ABM) fiscal fourth-quarter earnings
increased 53% as a one-time tax benefit boosted the facility
services contractor's bottom-line results, though government sales
continued to weaken.
Casey's General Stores Inc.'s (CASY) fiscal second-quarter
earnings fell 13% as the convenience-store operator reported that
gas margins declined from record highs a year earlier and operating
expenses increased.
Delta Air Lines Inc. (DAL) confirmed it is acquiring Singapore
Airlines Ltd.'s (SINGY, C6L.SG) 49% stake in Virgin Atlantic
Airways Ltd., forming a join venture that will create an expanded
trans-Atlantic network.
Gilead Sciences Inc.'s (GILD) board approved a two-for-one split
in the biopharmaceutical company's stock that will take effect
early next year.
Graphic Packaging Holding Co. (GPK) said certain shareholders
are offering 16.5 million shares. The paperboard packaging company
won't receive any proceeds from the offering, and has agreed to buy
back up to $300 million of the shares offered. The company recently
had around 393.7 million shares outstanding, according to
FactSet.
Hanover Insurance Group Inc. (THG) expects superstorm
Sandy-related losses to affect earnings by $120 million to $140
million, but said it expects the costs to be manageable.
Murphy Oil Corp. (MUR) said it has entered into an accelerated
share-repurchase agreement with J.P. Morgan Chase & Co. (JPM)
to buy back $250 million of the oil-and-gas company's common
stock.
Nasdaq OMX Group Inc. (NDAQ) on Monday struck a deal to acquire
a stake in a Dutch stock- and options-trading venue, extending
Nasdaq OMX's efforts to develop its European derivatives
franchise.
Orchard Supply Hardware Corp.'s (OSH) fiscal third-quarter loss
widened as the home-improvement retailer recorded hefty impairment
charges and flat same-store sales.
Platinum Group Metals Ltd. (PLG, PTM.T) is offering shares to
raise around 180 million Canadian dollars ($182.3 million). The
platinum mining company intends to use the proceeds for purposes
including developing its WBJV Project 1 platinum mine and
exploration and engineering at the Waterberg project.
SunCoke Energy Inc. (SXC) gave an earnings view for 2013 well
below analyst estimates, citing a decrease in average sale prices
in its coal-mining segment.
Teavana Holdings Inc. (TEA) swung to a fiscal third-quarter loss
as the tea retailer reported higher expenses, partly related to its
acquisition of Teaopia stores earlier this year, masking revenue
growth.
Texas Instruments Inc. (TXN) nudged up its view of core
fourth-quarter earnings after accounting for the full cost of its
exit from most of the mobile-chip market.
United Continental Holdings Inc.'s (UAL) traffic fell 2.3% in
November from a year earlier as the carrier's capacity also slipped
and superstorm Sandy hurt revenue.
Write to Anna Prior at anna.prior@dowjones.com
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