U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH

Among the companies with shares expected to actively trade in Monday's session are Jefferies Group Inc. (JEF), Titanium Metals Corp. (TIE) and Clovis Oncology Inc. (CLVS).

Jefferies Group Inc. (JEF) confirmed it will merge with Leucadia National Corp. (LUK), giving the securities firm a new owner with deep pockets at a time of rising investor concern over the funding sources and business model of investment banks. The deal, offering Jefferies shareholders $17.66 in stock, sent shares up 17% to $16.74 in premarket trade.

Precision Castparts Corp. (PCP) has agreed to acquire Titanium Metals Corp. (TIE) for about $2.9 billion, a deal that expands the cast-metal parts manufacturer's titanium capabilities. Precision will buy Titanium Metals, or Timet, for $16.50 a share in cash, a 43% premium to the metal products company's Friday closing price. Timet shares surged 43% to $16.56 premarket.

Clovis Oncology Inc. (CLVS) said it will suspend development of its CO-101 drug candidate after a study showed it was ineffective in improving the survival rate for patients with metastatic pancreatic cancer. Shares tumbled 41% to $12.75 premarket after Chief Executive Patrick J. Mahaffy expressed disappointment with the study's results, which he called "unambiguous."

Celgene Corp. (CELG) said a late-stage study of its drug Abraxane significantly improved the lifespans of patients with pancreatic cancer, one of the deadliest and hardest-to-treat diseases. The combination therapy showed a statistically significant improvement in overall survival, meeting the study's primary endpoint, the company said, although it didn't report the specific number. Shares jumped 8.5% to $77.58 premarket.

Annaly Capital Management Inc. (NLY) has offered to buy all the shares in Crexus Investment Corp. (CXS) it doesn't already own in a cash deal that values the commercial real-estate investor at about $958 million. Crexus shares jumped 14% to $12.70 premarket.

 
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Lockheed Martin Corp. (LMT) on Friday said its incoming chief executive had resigned after it was revealed he had a relationship with a subordinate that broke its internal code of conduct, appointing Marillyn Hewson to take over the position in January.

Biopharmaceutical company Myrexis Inc. (MYRX) said its board has approved a plan of complete liquidation and dissolution, a move that comes after the company suspended all of its clinical programs earlier this year. The company said it plans to distribute all available cash to shareholders.

Standard & Poor's Ratings Services has downgraded its credit ratings on Western Union Co. (WU) by one notch, on expectations of sliding profits for the world's largest provider of remittances over the next year.

Write to Mia Lamar at [e-mail]

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