Monday's biggest gaining and declining stocks
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MarketWatch
07:53 a.m. 06/09/2008 By MarketWatch
NEW YORK (MarketWatch) -- Among the companies whose shares are expected to see active trade in Monday's session are Lehman Brothers, Apple and Texas Instruments.
Apple (AAPL) will kick off its annual developers' conference in San Francisco with Chief Executive Steve Jobs scheduled to speak..
Allergan Inc. (AGN) said it had agreed to buy QLT's (QLTI) Aczone gel, an acne treatment, for $150 million. Allergan plans to launch Aczone in the fourth quarter. The company anticipates the transaction will not be dilutive in 2008 and Allergan's financial guidance remains unchanged.
B/E Aerospace (BEAV) said it agreed to acquire Honeywell International's (HON) consumable solutions distribution business for $1.05 billion, including at least $800 million in cash plus an additional $250 million to be paid in B/E Aerospace common stock or cash. As part of the deal, B/E Aerospace will enter into a 30-year contract to become Honeywell's exclusive licensee for the sale of Honeywell proprietary fasteners, seals, gaskets and electrical components tied to products including Honeywell's engines, APUs, avionics, wheels and brakes.
Delta Air Lines Inc. (DAL) said late Friday in a Securities and Exchange Commission filing that it expects about $103 million in charges in the second quarter, including $95 million stemming from job cuts and $8 million related to discontinued use of certain airport facilities. Delta expects additional charges going forward in line with changes in its business plan on the back of record fuel prices.
Fresh Del Monte Produce Inc. (FDP) announced it had bought the shares of two Costa Rica-based fruit companies for $403 million, saying it expected the purchases to add to the company's earnings in the first year. The company said it acquired the shares of Desarollo Agroindustrial de Frutales, a banana producer, and the shares of Frutas de Exportacion, a provider of gold pineapples, as well as the shares of an affiliated sales and marketing company.
Hilb Rogal & Hobbs (HRH) will be acquired for $1.7 billion in cash and stock by rival insurance broker Willis Group Holdings Ltd. of London..
Hologic Inc. (HOLX) said it will acquire Third Wave Technologies Inc. (TWTI) for $580 million, or $11.25 a share. The Bedford, Mass.-based women's healthcare products provider said Third Wave will accelerate its growth in cervical cancer screening and provides a solid platform for future opportunities in molecular diagnostics. Madison, Wisc.-based Third Wave has recently sought approval from the U.S. Food and Drug Administration for two human papilloma virus, or HPV, tests. Hologic said it expects the HPV-testing market to grow to $800 million in the next few years from $200 million today.
Intel Corp. (INTC) said it is formally being investigated by the Federal Trade Commission for anticompetitive practices. Intel, its rival Advanced Micro Devices Inc. (AMD), and PC makers have received subpoenas connected to the investigation in recent days..
Lehman Brothers Holdings Inc. (LEH) said it'll raise $6 billion in a stock offering. The investment bank also expects to report a second-quarter loss of $2.8 billion, or $5.14 a share, compared to a year-earlier profit of $489 million, or 81 cents a share. Ratings agency Moody's Investors Service lowered the rating outlook on Lehman to negative from stable..
Pall (PLL) is expected to report fiscal third-quarter earnings.
Pier 1 Imports Inc. (PIR) said that it has offered to buy Cost Plus (CPWM) in a stock-for-stock transaction in which Pier 1 would issue 0.6000 shares for each share of Cost Plus. This represents an offer price of $4.00 per share. The offer represents a premium of about 31% over the Cost Plus closing price on June 6, Pier 1 said.
Sears Holdings Corp. (SHLD) had its outlook lowered to negative from stable by Moody's due to lackluster operating performance while affirming its Ba1 corporate family rating.
SkyWest Inc. (SKYW) said it dropped its bid to acquire ExpressJet Holdings Inc. (XJT) and entered a new capacity purchase agreement with the company and Continental Airlines Inc. (CAL) . "Although we continue to believe our offer represented a favorable opportunity for ExpressJet stakeholders, the execution of a new ExpressJet capacity purchase agreement removes a fundamental component of our offer," said Bradford Rich, SkyWest chief financial officer, in a statement. "Accordingly, we now intend to focus our resources on pursuing other elements of our strategic plan."
Smithfield Foods Inc. (SFD) said it had named Executive Vice President Robert Manly to serve as chief financial officer, effective July 1. Manly, who previously held the positions of president and chief operating officer at Premium Standard Farms, will replace Carey Dubois, who will move to the new position of vice president of finance.
Texas Instruments (TXN) is expected to provide its mid-quarter update after the closing bell.
