Bgc Partners - Class A (MM) (NASDAQ:BGCP)
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3 Years : From Apr 2012 to Apr 2015
Among the companies with shares expected to actively trade in Tuesday's session are BGC Partners Inc. (BGCP), Obagi Medical Products Inc. (OMPI) and Humana Inc. (HUM).
NASDAQ OMX Group Inc. (NDAQ) agreed to acquire the eSpeed platform from BGC in a cash-and-stock deal worth as much as $1.23 billion as the exchange company seeks an entry into the electronic fixed-income business. BGC's market capitalization before the close was around $683 million. BGC shares rose 47% to $5.69 in premarket trading.
Merz Pharma Group has offered to buy specialty pharmaceutical company Obagi Medical Products for about $385 million, looking to top a $345 million bid from Valeant Pharmaceuticals International Inc. (VRX, VRX.T) a few weeks ago. Merz is offering $22 a share in cash for Obagi, above Valeant's offer price of $19.75. Obagi shares jumped 16% premarket to $22.80, as investors may be expecting a bidding war to ensue.
Health insurers stand to get significantly more money for running Medicare Advantage plans next year than they expected, according to new government rates announced late Monday. The good news sent shares of Medicare-focused Humana up 9.3% to $81.97 premarket. Fellow insurers UnitedHealth Group Inc. (UNH) and Aetna Inc. (AET) climbed 3.8% and 3.1%, respectively, premarket.
Goldman Sachs downgraded Hewlett-Packard Co. (HPQ) from neutral to sell, saying in a note to clients that earnings per-share expectations could face downward revisions in coming quarters and that any recovery in earnings power for the technology company will be muted through fiscal year 2014. The investment bank also said that "current restructuring actions will be largely countered by incremental weakness in PCs, enterprise hardware, services and printing in fiscal year 2013." Shares fell 4.1% to $22.36 premarket.
Billionaire investor Carl Icahn disclosed a 9.27% passive stake in Nuance Communications Inc. (NUAN) in a Securities and Exchange Commission filing. The speech-software company's shares rose 8% to $21.80 premarket.
Verizon Communications Inc. (VZ) and AT&T Inc. (T) have been working on putting together a breakup bid for U.K.-based mobile operator Vodafone Group PLC (VOD, VOD.LN), according to the Financial Times' Alphaville column which cited usually reliable people. According to the story, should the bid happen, it would be pitched at around a 40% premium to Vodafone's current price. A Vodafone spokesman declined to comment on the report and Verizon and AT&T couldn't immediately be reached for comment. Vodafone American depositary shares rose 4.8% to $29.70 premarket.
Nordic American Tankers Ltd. (NAT) has commenced an offering of $87 million of its shares as the tanker company looks to raise funds for acquisitions and for general corporate purposes. The company has a market capitalization of $633 million, according to FactSet Research. Shares were off 12% at $9.65 premarket.
American Superconductor Corp. (AMSC) raised its revenue forecast for the fiscal fourth quarter, citing foreseeable growth in its wind and grid units, as well as customer interest in its high temperature superconductor products.
Chip maker Avago Technologies Ltd. (AVGO) has named Bryan Ingram, most recently the general manager of the company's wireless semiconductor division, as its new chief operating officer.
CBOE Holdings Inc.'s (CBOE) average daily trading volume of options at its namesake exchange decreased 13% in March from a year earlier, while its market share also declined.
Dominion Resources Inc. (D) has agreed to pay a $3.4 million penalty and will spend about $9.8 million on pollution-reducing projects to resolve alleged Clean Air Act violations, the Department of Justice and the U.S. Environmental Protection Agency said.
Fluor Corp. (FLR) said it has agreed to pay $1.1 million to settle a lawsuit alleging that the engineering and construction company misused federal funds for lobbying.
Immunomedics Inc. (IMMU) expects to receive a total payment of $16.7 million after reaching a settlement with its former broker, resolving allegations the drug company had brought to the Financial Industry Regulatory Authority related its investments.
Investors Real Estate Trust (IRET) is offering 8 million shares of beneficial interest and said proceeds will ultimately be used for general business purposes, which may include acquiring or developing land and real-estate properties and reducing its debt. The real estate investment trust had 94.6 million shares outstanding as of Feb. 22.
Shoe Carnival Inc.'s (SCVL) fiscal fourth-quarter earnings slipped 2% as the footwear retailer reported higher input costs and general expenses that offset improved sales. The company also offered first-quarter guidance below analyst expectations, citing a slow start to its spring selling season.
Synnex Corp. (SNX) appointed FedEx Corp. (FDX) veteran Marshall W. Witt the information-technology distributor's chief financial officer, effective next week.
Tibco Software Inc. (TIBX) said its Chief Financial Officer Sydney Carey will leave the provider of data-integration software to join a private, venture-backed technology company.
Teen-oriented retailer Urban Outfitters Inc. (URBN) unveiled in a filing that comparable retail segment net sales in the fiscal first-quarter thus far are high single-digit positive.
Fitch Ratings upgraded US Airways Group Inc.'s (LCC) speculative-grade ratings by two notches to reflect continued improvement of the carrier's credit profile on a standalone basis, excluding potential benefits from its pending merger with American Airlines parent AMR Corp. (AAMRQ).
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