Among the companies with shares expected to actively trade in
Monday's session are Ann Inc. (ANN), Burger King Worldwide Inc.
(BKW) and Tim Hortons Inc. (THI).
Activist investor Engine Capital LP pressed the women's apparel
retailer Ann Inc. to pursue a sale, suggesting a strategic or
private-equity buyer would be willing to pay between $50 and $55 a
share, a big premium. Shares rose 3.1% to $38.70 premarket.
Burger King Worldwide Inc. is in talks to buy Canadian
coffee-and-doughnut chain Tim Hortons Inc., a deal that would be
structured as a so-called tax inversion and would move the
hamburger seller's base to Canada. Burger King surged 12% to $30.43
premarket, while Tim Hortons climbed 15% to $72.
Industrial packaging company Greif Inc. (GEF) cut its
expectations for the year, pointing to higher overhead costs and
slightly lower-than-expected results from operations. Shares
dropped 12% to $44.05 premarket.
Insys Therapeutics Inc. (INSY) said the U.S. Food and Drug
Administration has granted orphan drug designation to its
pharmaceutical cannabidiol for the treatment of glioblastoma
multiforme, the most common and most aggressive malignant primary
brain tumor in humans. Shares rose 5.5% to $37.49 premarket.
San Francisco-based InterMune Inc. (ITMN) agreed to be purchased
by Roche Holding AG for $8.3 billion in cash, the biggest
acquisition in years for the Swiss pharmaceutical giant after a
string of much smaller purchases. Shares surged 36% to $73.29
premarket.
Chinese Internet company Qihoo 360 Technology Co. (QIHU) posted
stronger-than-expected second quarter earnings, but the company,
know as an antivirus provider, reported its gross profit margins
declined two points from the first quarter amid heavy marketing
expenses and personnel costs. Shares dropped 4.2% to $97.50
premarket.
Regado Biosciences Inc. (RGDO) said it terminated the late-stage
trial testing of Revolixys, citing its lead program's efficacy in
fighting coronary artery disease. The company said the study's data
and safety monitoring board "indicated that the level of serious
allergic adverse events associated with Revolixys was of a
frequency and severity such that they recommended that we do not
enroll any further patients in the Regulate-PCI trial." Shares
dropped 49% to $1.45 premarket.
Barron's Watch List:
Barbie is having a rough year, and it's not because little girls
have stopped wanting toys. My Little Pony, for example, is
galloping off the shelves. It's made by Hasbro Inc. (HAS), which is
the No. 2 U.S. toy company and is gaining on leader Mattel Inc.
(MAT). Over the past year, Hasbro shares are up 16%, while those of
Mattel have lost as much. Investors should stick with what's
working. Look for Hasbro shares to return 20% over the next year,
including a 3.3% dividend yield. Wait for improvement at
Mattel.
The controversial Keystone XL pipeline, which would transport
oil from Alberta to refineries in the U.S. Midwest and Gulf Coast,
has been held up for four years by political and environmental red
tape. But that hasn't slowed the growth of TransCanada Corp. (TRP),
one of North America's largest energy-pipeline companies. Often
overlooked by U.S. investors, TransCanada is an attractive
alternative to the overheated U.S. pipeline
master-limited-partnership sector.
Write to Lauren Pollock at lauren.pollock@wsj.com
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