By Dow Jones Business News, March 11, 2013, 08:58:00 AM EDT
Among the companies with shares expected to actively trade in Monday's session are Dick's Sporting Goods Inc. ( DKS ),
Simcere Pharmaceutical Group ( SCR ) and Genworth Financial Inc.( GNW ).
Dick's Sporting Goods' fourth-quarter earnings per-share just ticked the low end of the company's underwhelming view
while sales missed analysts' estimates and the sporting-goods retailer's forecasts for both this quarter and the year
trailed consensus. The company also reported a 2.2% drop in same-store sales at its namesake stores last quarter as
there had to be big markdowns of cold-weather gear. Shares fell 7.5% to $46.82 premarket.
Simcere Pharmaceutical said a group, including Chairman Jinsheng Ren, has offered to take the company private in an
all-cash deal that values the China-based drugmaker at roughly $528 million. The company said Mr. Ren, New Good
Management Ltd., Assure Ahead Investments Ltd. and its affiliates have offered to pay $9.56 per American depositary
share, a 20% premium to Friday's $7.96 close. ADSs rose 16% to $9.25 premarket.
An article in Barron's noted that things are getting better for Genworth Financial shareholders, with the arrival of
Thomas McInerney as chief executive in January. Investors think shares, which still sell for less than half of book
value, could be worth as much as $18 or more. Plus, the resurgent U.S. mortgage market offers Genworth its best chance
to grow. Shares rose 10.5% to $10.87 premarket.
Canadian Solar Inc.'s ( CSIQ ) fourth-quarter loss widened as fewer solar module shipments hampered the solar company's
top line. Shares fell 3.5% to $3.60 premarket.
Elan Corp. ( ELN ) said it will pay as much as $13 a share--or a premium of 13% from Friday's closing price of its
American depositary shares--to buy back stock in a plan intended to reward stockholders who remain invested in the Irish
biotechnology company following the sale of its multiple sclerosis drug. Elan's American depositary shares rose 4.6% to
Real-estate investment trust CYS Investments Inc. ( CYS ) has cut its quarterly dividend by 20%. The company will pay a
dividend of 32 cents for the first quarter of 2013, down from its previous-quarter payout of 40 cents. Shares slipped
1.7% to $11.80 premarket.
Dell Inc. ( DELL ) moved to reassure employees about the computer maker's planned $24.4 billion leveraged buyout by
founder Michael Dell, telling them in an internal note that uncertainty and speculation related to the deal "is all part
of the process being led by our board of directors."
Standard & Poor's Ratings Services upgraded its ratings on Kansas City Southern ( KSU ) to investment grade, noting the
regional railroad company's improving operating efficiency, disciplined debt reduction and lower interest expense.
Renren Inc. ( RENN ) swung to a fourth-quarter loss as increased costs to launch games outpaced the Chinese social-
networking company's stronger-than-expected revenue growth. The company also forecast current-quarter revenue below
Trulia Inc. ( TRLA ) and its stockholders plan to offer 5.25 million shares with estimated proceeds of about $164.3
million, an offering that comes as its shares have soared from their September debut. The real-estate listing service
plans to offer about 3.5 million shares, and plans to use the roughly $100.3 million in proceeds to fund working capital
and other general corporate purposes, along with acquisitions or investments.
Write to Anna Prior at firstname.lastname@example.org
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