Among the companies with shares expected to actively trade in Monday’s session are Covance Inc.(CVD), Sysco Corp.(SYY) and Hilton Worldwide Holdings Inc.(HLT)
Laboratory Corp. of America Holdings Inc. said it agreed to buy Covance in a cash-and-stock deal worth about $5.94 billion. Covance also reported that third-quarter earnings rose on a 3.7% increase in revenue. LabCorp’s shares fell 5.7% to $103.10 in premarket trading, while Covance’s shares jumped 26.7% to $101.20.
Sysco Corp. said its fiscal first-quarter earnings fell 2.4% on expenses related to the food-services distributor’s pending U.S. Foods acquisition and other one-time items. The company also said it doesn’t expect the U.S. Foods deal to close before the first quarter of next year. Shares edged up slightly to $38.75 premarket.
Bloomberg News Blackstone Group L.P (BX). announced plans Monday to pare its stake in Hilton by an additional $2 billion. Blackstone’s shares were flat at $30.12 premarket, while Hilton’s shares fell 2.5% to $24.60.
Church & Dwight Co.'s(CHD) third-quarter profit rose 7% on strong sales of Arm & Hammer cat litter and Trojan condoms. Results topped Wall Street expectations, but the company gave a muted estimate for its current quarter and full year. Shares slipped 1.2% to $71.51 premarket.
Foster Wheeler AG's(FWLT) third-quarter earnings and revenue fell short of analysts’ estimates, hurt in part by a higher tax rate. Shares ticked down slightly to $30.87 premarket.
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Fiat Chrysler Automobiles NV's(FCAU) Chrysler Group LLC posted its best October sales in 13 years, while Nissan Motor Co.(7201.TO) and Honda Motor Co.(7267.TO) also said their U.S. auto sales rose, marking another month of growth for the industry. General Motors Co.(GM) and Ford Motor Co.(F) are expected to report sales later Monday morning.
Aetna Inc.(AET) said it reached a deal to buy bswift, a privately held provider of technology that helps people shop on health-insurance exchanges, for about $400 million.
Bristol-Myers Squibb Co.(BMY) said Monday it signed an option agreement to buy Galecto Biotech AB and its experimental pulmonary fibrosis treatment in a deal that could be valued at up to $444 million.
Apple Inc.(AAPL) has its eye on the bond markets again, lining up a potential new deal that would likely build on a track record of blockbuster transactions.
Golden Peanut Co., a unit of Archer Daniels Midland Co.(ADM), is expanding its reach with the purchase of Georgia pecan processor Harrell Nut Co.
Morgan Stanley named former Central Intelligence Agency executive Jami Miscik to its board, replacing retiring, longtime board member Griff Sexton.
Shares of Sotheby's (BID) have fallen 26% this year on disappointing earnings and concerns about whether slowing global growth could hurt the market, Barron’s said in a recent report. But the company’s core business and its duopoly with rival Christie’s remain as formidable as ever. Analysts believe shares could rise more than 25% to $50, the report said.
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