Among the companies with shares expected to actively trade in
Thursday's session are PVR Partners L.P. (PVR), Teva Pharmaceutical
Industries Ltd. (TEVA) and Citrix Systems Inc. (CTXS).
Regency Energy Partners L.P. (RGP) agreed to acquire PVR
Partners for about $3.8 billion, creating a significant
gas-gathering and processing company focused on unconventional
energy plays across the U.S. Regency said its offer is valued at
$28.68 per PVR unit, a 26% premium over Wednesday's close. The
units surged 18% to $27 premarket.
Teva Pharmaceutical is cutting its workforce by about 10%,
accelerating its cost-reduction efforts and joining a wave of
downsizing in the drug industry. The cuts will affect about 5,000
employees and will be mostly completed by the end of 2014. American
depositary shares edged up 2.9% to $40.35 premarket.
Citrix Systems cut the enterprise software maker's third-quarter
sales and profit estimates, which sent shares sharply lower in
after-hours trading. The stock slumped 12% to $58.80 in premarket
trading. Shares of peer VMware Inc. (VMW) were off 1.4% to
$77.85.
IGate Corp.'s (IGTE) third-quarter earnings rose 13% as revenue
and margins improved. The provider of outsourcing services saw its
results beat expectations, sending shares up 6.4% to $29.36
premarket.
Acura Pharmaceuticals Inc. (ACUR) reached settlement agreements
with Par Pharmaceutical and Impax Laboratories to settle the
specialty-pharmaceutical company's patent-infringement actions
pending against them tied to painkiller Oxecta. Shares surged 24%
to $2.09 premarket.
Ruby Tuesday Inc. (RT) reported a surprisingly wide loss in its
fiscal first quarter, saying competition and economic headwinds
hurt the restaurant operator as it tries to execute a turnaround
plan. Shares fell 16% at $6.34 in premarket trading as the results
missed expectations and sales at restaurants open more than a year
fell sharply.
Watch List:
Alkermes PLC'S (ALKS) investigational treatment for major
depressive disorder received fast-track designation from the U.S.
Food and Drug Administration. The biopharmaceutical company's once
daily treatment--known as ALKS-5461--is earmarked for use for
hard-to-treat cases.
Chevron Corp. (CVX) said its third-quarter global oil-and-gas
production are expected to rise slightly from the year-ago quarter,
though downstream earnings are expected to be "significantly
lower."
Crestwood Midstream Partners LP (CMLP) has agreed to acquire
privately held Arrow Midstream Holdings LLC for about $750 million,
expanding its footprint in the oil-rich Bakken Shale. The deal is
expected to close in the fourth quarter and be immediately
accretive to Crestwood's distributable cash flow next year.
Destination Maternity Corp. (DEST) raised its earnings
expectations for the year, helped by stronger sales in stores open
for more than a year. Specialty retailer Cato Corp. (CATO) also
said it expects its fiscal third-quarter earnings to come in at the
higher end of its prior guidance.
Gilead Sciences Inc. (GILD) said it will stop its Phase 3 study
of a treatment for chronic lymphocytic leukemia as interim results
have demonstrated significant efficacy for its primary endpoint.
The treatment, which is called idelalisib, was being tested for
patients not fit for chemotherapy.
Helen of Troy Corp.'s (HELE) fiscal second-quarter earnings rose
1.5% as the personal-care and household-products maker posted an
increase in revenue that was offset somewhat by a bigger rise in
input costs.
IntercontinentalExchange Inc. (ICE) plans to close its
acquisition of NYSE Euronext (NYX) on Nov. 4, completing a roughly
$10 billion tie-up of two mega-exchanges. The closing date is
predicated on some remaining approvals from European regulators and
may be extended.
Private-equity firm KKR & Co. LP (KKR) has agreed to pay
about $1 billion to Melrose Industries PLC (MLSPY, MRO.LN) to
acquire lifting-equipment companies Crosby Group LLC and Acco
Material Handling Solutions.
Men's Wearhouse (MW) has adopted a shareholder-rights plan to
prevent new investors from gaining sizable control of the apparel
retailer, a move that comes on the day it rejected a $2.3 billion
takeover bid by Jos. A. Bank Clothiers Inc. (JOSB).
OmniAmerican Bancorp Inc. (OABC) plans to trim its work force by
8%, job cuts stemming from the bank's plan to discontinue the
purchase of auto loans originated through auto dealerships.
OmniAmerican also disclosed it eliminated the position of chief
operating officer to reduce costs and bolster earnings.
Quest Diagnostics Inc. (DGX) forecast weaker-than-expected
results in its third quarter, citing softness in its diagnostic
information services business. "Later in the quarter, revenues
deteriorated, leading to results that did not meet our
expectations," said Chief Executive Steve Rusckowski.
Sirius XM Radio Inc. (SIRI) has increased its share-repurchase
program by $2 billion and plans to buy back $500 million of stock
from Liberty Media Corp. (LMCA, LMCB), a move to boost returns for
the satellite radio company's shareholders. Liberty Media expects
to continue to own more than 52% of Sirius's shares after the
repurchase.
Vonage Holdings Corp. (VG) has agreed to acquire
voice-over-internet-protocol company Vocalocity for $130 million,
in a deal aimed at strengthening Vonage's position in the small-
and medium-sized business sector. Vonage will pay $105 million in
cash and $25 million in stock for a purchase that it sees as
"transformative," Chief Executive Marc Lefar said in an
interview.
Write to Lauren Pollock at lauren.pollock@wsj.com
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