Among the companies with shares expected to actively trade in
Monday's session are Tellabs Inc. (TLAB), Halliburton Co. (HAL),
and McDonald's Corp. (MCD).
Tellabs Inc. (TLAB) has agreed to be acquired by private-equity
firm Marlin Equity Partners for about $891 million, following a
review of the networking-products maker's strategic alternatives.
Under the terms of the agreement, Marlin will acquire Tellabs
shares for $2.45 each in cash, a 4.3% premium to Tellabs' closing
price Friday. Shares rose 5.5% to $2.48 premarket.
Halliburton Co.'s (HAL) third-quarter earnings rose 17% as the
oil-field services company's revenue growth continued to be led by
its international operations, offsetting tepid growth in North
America and impacts from widespread flooding in Colorado last
month. However, the growth wasn't as strong as that posted by
rivals Schlumberger Ltd. (SLB) and Baker Hughes Inc. (BHI) on
Friday. Shares fell 1.3% to $51.81 premarket.
McDonald's Corp.'s (MCD) third-quarter earnings rose 4.6% as the
fast-food restaurant company's revenue rose 2.4%. However, sales
were slightly lower than analysts' expectations and shares were
down 1.7% at $93.55 premarket.
Toy maker Hasbro Inc.'s (HAS) third-quarter earnings jumped 17%,
helped by a tax adjustment and improved girls' category sales,
though the boy-focused segment continued to report weaker sales.
Adjusted earnings and revenue beat analysts' expectations. Shares
rose 43 cents to $47.68
ManpowerGroup's (MAN) third-quarter earnings jumped 50% as the
temporary-staffing company reduced expenses, though revenue was
roughly flat. Adjusted earnings and revenue beat expectations and
the company's fourth-quarter earnings view topped analysts'
expectations. Shares rose 4.7% to $83.
U.S. Steel Corp. (X) said Friday it expects to record a $1.8
billion writedown for its North American flat-rolled and Texas
operations in the third quarter. The steel producer said the
noncash goodwill impairment charge won't affect the company's
liquidity or compliance with debt covenants. Shares were up seven
cents at $24.05.
WebMD Health Corp. (WBMD) will repurchase all of its shares that
are owned by Carl Icahn and certain of his affiliates for $177.3
million. The health-information provider will buy back 5.5 million
shares for $32.08 a share, its closing price on Friday. The deal,
which is expected to be completed Monday, will be funded from
WebMD's cash on hand. Shares rose nearly 1% to $32.39.
Watchlist:
The U.S. Food and Drug Administration on Friday said it had
approved Swiss company Actelion Ltd.'s (ALIOY, ATLN.VX) Opsumit
drug to treat pulmonary arterial hypertension.
AO Smith Corp.'s (AOS) third-quarter earnings rose 25% as
revenue improved 16% thanks to a growing home-construction market
in the U.S. and continued strength in China. The water-heater
producer's adjusted earnings and revenue beat expectations. The
company also raised its 2013 earnings guidance.
Carlisle Cos. (CSL) has agreed to sell its
transportation-products business to American Industrial Partners in
a deal worth $375 million, as the diversified manufacturer looks to
focus on higher-margin and faster-growing businesses.
Technology and specialty-materials company Celanese Corp. (CE)
reported third-quarter adjusted earnings that topped market
expectations.
Crown Castle International Corp.'s (CCI) third-quarter earnings
rose 9% as the cell-tower company's site rental revenues increased.
Revenue topped analysts' expectations and the company unveiled
plans to initiate a dividend of 35 cents a year for the first
quarter of next year, subject to the completion of AT&T Inc.'s
(T) deal to lease cell towers and sell some others to Crown Castle
for about $4.85 billion.
Dole Food Co. (DOLE) said Friday proxy-advisory firm ISS
recommended shareholders support the company's agreement to be
acquired by Chairman and Chief Executive David H. Murdock when a
special meeting of stockholders to approve the merger is held Oct.
31.
HCI Group Inc. (HCI), an insurance-holding company, said it has
adopted a shareholder-rights plan with a 10% trigger in order to
"ensure implementation of the company's long-term business plans."
The company said the board didn't adopt the plan in response to any
proposal to acquire control of the company.
Ultra Petroleum Corp. (UPL) agreed to acquire oil-producing
properties in the Uinta Basin for $650 million, increasing the
exploration and production company's exposure in northeast
Utah.
VF Corp.'s (VFC) third-quarter earnings rose 14% as the maker of
North Face and Wrangler apparel reported stronger sales in its main
outdoor and sports business. The company also unveiled a
four-for-one stock split, as well as a 21% boost in its current
quarterly dividend to $1.05 a share.
Write to Tess Stynes at tess.stynes@wsj.com
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