By Dow Jones Business News,
January 27, 2014, 09:07:00 AM EDT
Among the companies with shares expected to actively trade in Monday's session are Caterpillar Inc. ( CAT ) and Rayonier
American Electric Power Co. ( AEP ) said its fourth-quarter earnings soared, as growth in most of its utility operations
and benefits from rate decisions offset customers losses after divesting its Ohio business. Results beat expectations,
pushing shares up 2.2% to $47.80 premarket.
Apple Inc. ( AAPL ) is laying the groundwork for an expanded mobile-payments service, leveraging its growing base of
iPhone and iPad users and the hundreds of millions of credit cards on file through its iTunes stores. Additionally, the
Justice Department filed opposition to Apple's push to block a court-appointed monitor of its e-book pricing reform. In
a court filing Friday, the Justice Department said Apple's motion failed "to establish irreparable harm" from having a
monitor. Shares edged up 0.9% to $550.75 premarket.
Caterpillar said its fourth-quarter earnings rose 44%, as the heavy-equipment maker cut costs to help offset a
continuing decline in mining-machinery revenue. Shares rose 7.1% to $92.30 in premarket trading as the results topped
consensus estimates and the company gave a promising outlook for the just-started year.
Rayonier unveiled plans to separate into two publicly traded companies this year, pointing to the expansion of its
performance-fibers business and an improved housing and timber market that have positioned its businesses to grow
independently. Shares rose 8.5% to $44.69 in premarket trading.
Comcast Corp. ( CMCSA ) is much more likely to work with Charter Communications Inc. ( CHTR ) on a bid for Time Warner
Cable Inc. (TWC) than to pursue an offer on its own, said a person familiar with the situation--a major boost to
Charter's hopes of winning the takeover battle.
DirecTV (DTV) Chief Executive Mike White says the Weather Channel is worth only "one quarter of the price" the channel
wants the satellite operator to pay, underlining how far apart the companies are in the fee dispute that has blacked the
channel out on the satellite service for 10 days.
KKR & Co. (KKR), together with Sedgwick Claims Management Services Inc.'s management, agreed to acquire a majority
stake in Sedgwick for about $2.4 billion from its current investors, which include Hellman & Friedman LLC and Stone
Point Capital LLC.
Pepco Holdings Inc. (POM) said Chairman and Chief Executive Joseph M. Rigby plans to step down as CEO near the end of
this year after a successor is named. Mr. Rigby plans to stay on as the power company's chairman until next year's
annual shareholders meeting to assist in the transition. He plans to retire from the company in the first half of 2015.
Pfizer Inc. (PFE) said its treatment for advanced nonsmall cell lung cancer didn't meet goals in two Phase III
studies. Both trials evaluated the therapy--called dacomitinib--in populations of previously treated patients. In the
first study, the treatment didn't meet its objective of demonstrating statistically significant improvement in
progression-free survival when compared with cancer drug erlotinib. In the second trial, the therapy didn't meet its
objective of prolonging overall survival versus a placebo.
A committee formed by Sirius XM Holdings Inc. (SIRI) has hired financial and legal advisers to help the company
evaluate a takeover offer by media-investment company Liberty Media Corp. (LMCA).
Wal-Mart Stores Inc. (WMT) is laying off about 2,300 employees at its Sam's Club warehouse unit to help thin the ranks
of middle managers in its weakest stores, marking the club chain's biggest round of job cuts in four years.
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