Among the companies with shares expected to actively trade in
Monday's session are Best Buy Co. (BBY), Knight Capital Group Inc.
(KCG) and Cognizant Technology Solutions Corp. (CTSH).
Shares of consumer electronics retailer Best Buy jumped 23% to
$21.71 as Richard Schulze, the company's founder and former
chairman, offered to buy the remaining shares of the company that
he doesn't already own in a deal that values the retailer at up to
$8.84 billion, or $24 to$26 a share. Best Buy had 339.9 million
shares outstanding as of June 6.
Shares of Knight Capital continued to fall amid confirmation
from the company that the embattled brokerage had agreed to a $400
million rescue plan that would help fill a hole left by errant
trading last week. In a statement, Knight said as a result of the
loss it "experienced reduced order flow and liquidity pressures,
and its capital base was severely impacted." Shares fell 32% to
$2.76 in premarket trading.
Cognizant's second-quarter profit rose 21% as revenue saw
double-digit growth in all of its segments. Shares jumped 10% to
$63.90 as the information technology company raised its full-year
earnings guidance and affirmed its revenue view.
Israeli stem-cell developer Pluristem Therapeutics Inc. (PSTI)
said it has saved the life of a second patient with aplastic bone
marrow--a condition in which the patient's bone marrow doesn't
produce new blood cells--by using an injection of Pluristem's
cells. The company has applied for orphan drug status from the U.S.
Food and Drug Administration for its treatment. Orphan drug status,
reserved for treatments of rare diseases, gives drug developers
certain benefits, including government-subsidized research,
exclusive marketing agreements and other financial incentives.
Shares rose 21% to $4 in premarket trading.
French advertising and communications firm Publicis S.A. (PUGBY,
PUB.FR) denied it had approached Interpublic Group of Cos. (IPG)
with a view to a merger. Interpublic shares had traded higher
Friday after the Financial Times' Alphaville blog had said Publicis
was weighing a bid. Interpublic shares fell 11% to $9.80 in
premarket trading.
Changyou.com Ltd.'s (CYOU, K3JD.SG) second-quarter earnings beat
analysts' estimates, as shares of the Chinese online game developer
and operator rose 20% to $23.29 in premarket trading. Revenue
exceeded the high end of the company's guidance. The company also
said its majority-owned web games subsidiary 7Road.com Ltd. plans
to file a request with the U.S. Securities and Exchange Commission
for a possible initial public offering of American depositary
shares. Shares of Changyou.com's majority shareholder, Sohu.com
Inc. (SOHU) also rose 6.1% to $36.80 premarket amid reporting
second-quarter revenue rose 29% from a year earlier because of
strong growth at the company's video game and online search
units.
Shares of medical device maker Sunshine Heart Inc. (SSH) rose
15% to $9.75 in premarket trading as the company said it has
received conditional approval from the U.S. Food and Drug
Administration for its next generation C-Pulse system driver, used
in the treatment of heart failure.
Exelixis Inc. (EXEL) announced it plans to offer 20 million
shares of its common stock and $225 million of senior notes due
2019. Shares fell 6.8% premarket to $5.20.
Watchlist:
AES Corp.'s (AES) second-quarter profit fell 20% as the power
and utilities company saw a double-digit decline in revenue from
its key Latin American utilities business. Results missed
expectations and AES said it expects per-share earnings for the
year to come in at the low end of its May guidance.
Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) said
second-quarter profit fell 9% to $3.11 billion on declining results
in its derivative portfolio and a failure to repeat a big
investment gain it chalked up a year earlier. But operating
earnings, Buffett's preferred metric for evaluating his company,
jumped 38% and beat analyst expectations.
Cheniere Energy Inc.'s (LNG) second-quarter loss widened as the
liquefied-natural-gas-focused energy company was saddled with
higher development costs and revenue dropped. Cheniere Energy
Partners L.P. (CQP), a limited partnership formed and controlled by
Cheniere, also saw its loss widen on the higher capital
expenses.
Citigroup Inc. (C) disclosed law-enforcement agencies are
demanding more information about the bank's involvement in setting
Libor interest rates.
CompuCredit Holdings Corp. (CCRT) said it sold its debt-recovery
business to equity investment firm Flexpoint Ford LLC for about
$130.5 million, giving the specialty finance company new funds to
expand other parts of its business.
HCA Holdings Inc.'s (HCA) second-quarter earnings surged as the
hospital operator saw revenue rise from higher patient volumes. The
company also affirmed its full-year guidance.
Health Care REIT Inc.'s (HCN) second-quarter earnings dropped
11% as the senior housing and health-care focused real-estate
investment trust paid a larger income tax expense and total
expenses surged, though its revenue grew at a double-digit rate.
The company also raised its full-year guidance for adjusted funds
from operations.
Tyson Foods Inc.'s (TSN) fiscal third-quarter profit fell 61%
amid $167 million in early debt-extinguishment charges as the meat
processor continued to have challenges at its beef and pork
businesses, as well as rising grain prices. The company also
lowered its revenue estimate for the fiscal year.
Youku Inc.'s (YOKU) second-quarter loss widened as the Chinese
online television company saw its operating expenses nearly double.
Still, the company's loss wasn't as much as analysts expected and
revenue increased 96%, in line with the company's revenue growth
estimate.
Write to Anna Prior at anna.prior@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires