Among the companies with shares expected to actively trade in
Tuesday's session are Campbell Soup Co. (CPB), Medicis
Pharmaceutical Corp. (MRX) and Questcor Pharmaceuticals Inc.
(QCOR).
Campbell Soup Co. reported a better-than-expected profit for its
fiscal fourth-quarter, helped by a 14% jump in U.S. sales for
condensed soups, as well as gains for broths, ready-to-serve soups
and sauces. Shares rose 5% to $36.89 premarket.
Montreal-based drug maker Valeant Pharmaceuticals International
Inc. (VRX) agreed to acquire Medicis Pharmaceutical Corp. for $2.6
billion, the latest in a string of acquisitions. Valeant will pay
$44 a share for Medicis, a 39% premium to the stock's Friday
closing price. Medicis shares surged 38% to $43.47 premarket;
Valeant shares were also higher, trading up 9.8% to $56.29.
Questcor Pharmaceuticals Inc. (QCOR) said it has been informed
by the U.S. government that it is eligible for a lower Medicaid
rebate amount of its blockbuster drug Acthar. Currently, the
company pays a mandatory rebate to state Medicaid programs that is
roughly 100% of the amount it charges its distributors for the
drug; the new amount is estimated at roughly 23.1%. Shares surged
8.8% to $47.20 premarket after the company said in a securities
filing that the the change could have a "materially positive
impact" on its financial results.
StemCells Inc. (STEM) reported positive results for the first
patient trial of its spinal cord injury treatment using neutral
stem cells. The trial showed the treatment "continues to
demonstrate a favorable safety profile, and shows considerable
gains in sensory function in two of the three patients compared to
pre-transplant baselines," according to a statement released by the
biotechnology company. Shares jumped 17% to $2.53 premarket.
A handful of companies filed plans Friday to offer common stock
and other securities, pressuring shares after hours.
Specialty-pharmaceutical and medical-device maker Delcath Systems
Inc. (DCTH), which said it may offer securities and selling
stockholders may offer shares of common stock for up to $100
million, saw shares fall 4.6% to $1.89 premarket. Biopharmaceutical
company MannKind Corp. (MNKD) filed plans to offer up to $500
million of mixed securities, sending shares down 8.5% to $2.47
premarket.
Watchlist:
Collective Brands Inc. (PSS) swung to a fiscal second-quarter
profit as the shoe company reported stronger margins and continued
sales gains at its performance and lifestyle division.
NTS Realty Holdings L.P. (NLP) said it received an offer from
its chairman and chief executive to take the company private in a
deal valuing the real-estate company at about $58.3 million.
Founder and Chairman J.D. Nichols and Chief Executive Brian F.
Lavin offered to take the company private for $5.25 a share, a 71%
premium over Friday's closing price of $3.07.
-Write to Mia Lamar at mia.lamar@dowjones.com
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