By Dow Jones Business News, March 19, 2013, 09:10:00 AM EDT
Among the companies with shares expected to actively trade in Tuesday's session are AmerisourceBergen Corp. ( ABC ),
Cardinal Health Inc. ( CAH ) and Affymax Inc. ( AFFY ).
Walgreen Co. ( WAG ) and Alliance Boots GmbH agreed to get their branded and generic pharmaceutical products from
AmerisourceBergen Corp. ( ABC ), in exchange for the two companies having the right to buy a minority position in the drug
wholesaler. The pact deals a blow to Cardinal Health Inc. ( CAH ), which used to provide branded drugs to Walgreen. The
business is worth $28 billion in incremental revenue to AmerisourceBergen in the coming fiscal year. AmerisourceBergen
CEO Steven Collis says it may be the largest supply-chain contract in the industry's history. Shares of
AmerisourceBergen rose 6.6% to $51.50 in premarket trading and Cardinal Health shares slumped 6.1% to $43.34.
Affymax Inc. ( AFFY ) said Monday it will cut its workforce by 75% and is considering selling itself as the
biotechnology company focuses its resources on an investigation around its flagship antianemia drug. Shares slid 57% to
Lululemon Athletica Inc. (LULU, LLL.T) said it expects a shortage of its popular black Luon yoga pants after some of
them, sold since the beginning of the month, were found to be overly sheer. Shares fell 7.4% to $61.04 premarket, as the
Canadian company said its fiscal first-quarter same-store sales and revenue would suffer as a result.
Electronic Arts Inc. ( EA ) said its Chief Executive John Riccitiello is stepping down and also said its fourth-quarter
results could miss its earlier expectations. Investors seem to care more about Mr. Riccitiello's departure than its weak
guidance. That is no huge shock, Pacific Crest analyst Evan Wilson said, considering shareholders have blamed him for
much of the video-game maker's problems in recent years. Shares were up 1.8% at $19.05 premarket.
Crestwood Midstream Partners LP (CMLP) is offering 4.5 million units representing limited-partner interests. The
energy company plans to pay down debt with the proceeds. Crestwood recently had around 41.2 million units outstanding.
Shares fell 4.5% to $23.72 premarket.
Hospitality Properties Trust (HPT) is offering 10 million shares, expecting to use the proceeds to repay debt and for
general purposes. The real estate investment trust recently had 123.6 million shares outstanding. Shares fell 6.2% to $
25.51 in premarket trading.
Headphone maker Skullcandy Inc. ( SKUL ) has appointed Hoby Darling, a Nike Inc. (NKE) digital executive, to the
president and chief executive posts. Shares climbed 6.2% to $5.66 premarket.
AvalonBay Communities Inc. ( AVB ) said Chairman Bryce Blair has decided to retire and won't stand for re-election at
the multifamily-housing real-estate investment trust's upcoming annual stockholders meeting.
BlackRock Inc. ( BLK ), the world's largest money manager, said in an internal memo that it was laying off about 3% of
its workforce, or about 300 people, as a result of a company restructuring.
Citigroup Inc. ( C ) has agreed to pay $730 million to settle a class action brought on behalf of investors who were
allegedly misled by the bank's disclosures.
Federal Agricultural Mortgage Corp. (AGM, AGMA), commonly known as Farmer Mac, posted a 27% drop in fourth-quarter
earnings as fair-value adjustments and a severance payment made to a former executive hurt bottom-line results.
Hawaiian Electric Industries Inc. (HE) plans to offer up to 6.1 million shares as the utility owner seeks to raise
funds to invest in its businesses and to pay down debt. The company had around 97.9 million shares outstanding as of
Hess Corp. ( HES ) has agreed to sell assets in the Eagle Ford shale in south Texas for $265 million to Sanchez Energy
Corp. ( SN ) as it continues to whittle its operations.
Holly Energy Partners L.P. ( HEP ) plans to offer nearly 1.9 million units representing limited partner interests,
intending to use the proceeds in part to pay down debt. The gasoline-pipeline operator recently had 56.8 million units
LRR Energy L.P. ( LRE ) unveiled an offering of six million shares, with half sold by the company and the other half
sold by its biggest shareholder, Lime Rock Resources. LRR Energy, which recently had around 15.7 million units
outstanding, plans to use the proceeds of its portion of the offering to pay down debt.
Memorial Production Partners LP ( MEMP ) has agreed to acquire oil- and gas-producing properties in East Texas and North
Louisiana from its sponsor, Memorial Resource Development LLC, for $200 million, a move that strengthens the company's
core operating areas.
Steel Dynamics Inc. ( STLD ) projected first-quarter earnings below analyst estimates as the steel maker also said
shipments are expected to be fairly flat compared with the fourth quarter.
Two Harbors Investment Corp. ( TWO ) plans to offer 50 million shares, as it aims to acquire more residential mortgage-
backed securities, loans and servicing rights. The real estate investment trust recently had around 300.7 million shares
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