Among the companies with shares expected to actively trade in
Monday's session are KBW Inc. (KBW) and BioMarin Pharmaceutical
Inc. (BMRN).
Stifel Financial Corp. (SF) agreed to acquire financial
services-focused investment bank KBW Inc. (KBW) for $17.50 a share
in cash and stock, a 7.3% premium to Friday's close. The tie-up,
valuing KBW at roughly $575 million including restricted stock
awards, must still be approved by KBW shareholders. KBW shares
jumped premarket.
BioMarin Pharmaceutical Inc. (BMRN) said its drug for a rare
genetic disorder met its primary endpoint in a late stage study.
Shares surged 27% to $47.40 in premarket trading after the company
said it now plans to seek approval for the drug early next year.
"The GALNS clinical program is currently the highest development
priority at BioMarin, and this positive Phase 3 study serves as a
potentially transformative milestone for the company," said Chief
Executive Jean-Jacques Bienaime.
Ryman Hospitality Properties Inc. (RHP) declared a special
dividend of $6.84 a share, marking another step toward the
hospitality-and-entertainment company's conversion into a
real-estate investment trust. Shares rose 4.4% to $39.51 in
premarket trade.
Watchlist:
Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) said
third-quarter profit jumped 72% to $3.92 billion on investment
gains and an improvement in the company's derivatives portfolio.
But operating earnings, Mr. Buffett's preferred metric for
evaluating his company, fell 11% to $3.4 billion. The decline was
the result of an unfavorable comparison to last year's third
quarter, when the company benefited from a large re-estimation of
reserves at one of its reinsurance operations.
Cheniere Energy Inc.'s (LNG) third-quarter loss widened as the
energy company continued to report heavy costs related to the
development of a liquefied natural gas export project. Cheniere
Energy Partners LP (CQP), a limited partnership formed and
controlled by Cheniere Energy, also reported that its loss
widened.
Facebook Inc. (FB) executives, including Sheryl Sandberg, have
sold a portion of their stock in the social site as restrictions on
insider sales at the company have lapsed, according to filings with
the Securities & Exchange Commission.
JetBlue Airways Corp. (JBLU) said cancelled flights and expected
softening of short-term demand due to Hurricane Sandy will have a
"material" impact on fourth-quarter earnings.
The U.S. Food and Drug Administration approved the expansion of
uses for the blood thinner Xarelto to include treating certain
blood clots and reducing their recurrence. Xarelto is an
anticoagulant co-marketed by Johnson & Johnson (JNJ) and Bayer
AG (BAYRY).
MetLife Inc. (MET) announced late Friday that it will sell its
$70 billion mortgage-servicing portfolio to J.P. Morgan Chase &
Co. (JPM), furthering the life insurer's efforts to exit the
banking business.
Valspar Corp. (VAL) said Chief Financial Officer Lori A. Walker
plans to retire and will remain with the company until a successor
is named.
Write to Mia Lamar at mia.lamar@dowjones.com
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