$JRCC News!
U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
Among the companies with shares expected to actively trade in Monday's session are Knight Capital Group Inc. (KCG), James River Coal Co. (JRCC) and Zhongpin Inc. (HOGS).
Knight Capital is in talks about possibly selling the company's biggest and most-profitable business, according to The Wall Street Journal, which cites people briefed on the discussions. The securities firm, says the report, has been approached by at least two rivals about its market-making operation, which uses complex computer models to match buy and sell orders in stocks and options. The news led KBW to upgrade Knight Capital to market perform from underperform, saying that an acquisition by Virtu Financial and Getco LLC, two firms named by WSJ, would "fit strategically." Shares rose 15% to $2.85 premarket.
Raymond James upgraded shares of James River Coal to outperform from market perform and set a $3.00 price target, citing the coal company's ample liquidity, an expectation for a winter rally in U.S. natural gas prices, and the significant pullback in the company's shares. In premarket trading, shares rose 10% to $2.73.
China-based Zhongpin has agreed to be taken private by a group that includes its chief executive in a deal that values the meat and food processor at about $503 million. Shares jumped 17% to $12.66 premarket, below the $13.50 a share offer price, first unveiled in March.
Generac Holdings Inc. (GNRC) unveiled a secondary offering of about 11.5 million shares on behalf of its biggest shareholder and members of the company's board and senior management, following a recent runup in price. Generac, which is the leading maker of standby residential-backup generators, had been billed as a big winner from the recent destruction caused by superstorm Sandy. Share fell 5.4% to $33.39 premarket.
Watchlist:
ConocoPhillips' (COP) latest step in its international asset-sale effort is the oil company's 8.4% stake in a north Caspian Sea venture in Kazakh waters. Conoco is projecting deal proceeds of some $5 billion, versus the nearly $5.5 billion the company valued the assets at as of Sept. 30. As such, the company projects a fourth-quarter write-down of some $400 million.
Insperity Inc. (NSP) has commenced a modified Dutch auction tender offer to repurchase up to $50 million of stock and declared a special cash dividend, joining a list of companies making moves ahead of a potential increase in dividend taxes.
Mohawk Industries Inc. (MHK) is in negotiations to buy Italian ceramic-tile company Marazzi Group, Reuters reported Friday, citing two sources familiar with the deal. One source said a deal would be worth about $1.2 billion, Reuters reported.
UnitedHealth Group Inc. (UNH) projected earnings below analyst expectations for next year, though the figure represents an improvement over the health insurer's profit forecast for 2012. The largest managed-care firm by revenue and membership provided the outlook ahead of its annual investor conference Tuesday in New York.
Brick-and-mortar retailers used heavily promoted Black Friday doorbusters--big sales on special items geared to draw in customers--even more this year to try to push back the ever growing competition from the web. Saks Inc. (SKS), Big Lots Inc. (BIG) and Wal-Mart Stores Inc. (WMT) shares rose more than the broader market during regular session trading Friday.
A mix of retro toys like the new, tech-focused Furby and newer brands including the "Skylanders: Giants" video game and the freaky guys and ghouls of Monster High are generating the greatest buzz in the children's toy aisle this holiday season. Observers will keenly watch the performance of Wal-Mart, Toys "R" Us Inc. and Target Corp. (TGT) since those three retailers contribute roughly two-thirds of annual sales for many top toy manufacturers.
Home-furnishing retailers are entering the holiday season on track for their strongest sales year since 2008--but face new challenges as they try to lure shoppers online with wreathes, ornaments and gift ideas. Online shopping for home furnishings posted double-digit growth last year, and analysts say it is a game all the players are still trying to figure out, prompting retailers from Williams-Sonoma Inc. (WSM) to Pier 1 Imports Inc. (PIR) to offer Black Friday deals online as well as in stores.
Write to Anna Prior at anna.prior@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
Among the companies with shares expected to actively trade in Monday's session are Knight Capital Group Inc. (KCG), James River Coal Co. (JRCC) and Zhongpin Inc. (HOGS).
Knight Capital is in talks about possibly selling the company's biggest and most-profitable business, according to The Wall Street Journal, which cites people briefed on the discussions. The securities firm, says the report, has been approached by at least two rivals about its market-making operation, which uses complex computer models to match buy and sell orders in stocks and options. The news led KBW to upgrade Knight Capital to market perform from underperform, saying that an acquisition by Virtu Financial and Getco LLC, two firms named by WSJ, would "fit strategically." Shares rose 15% to $2.85 premarket.
Raymond James upgraded shares of James River Coal to outperform from market perform and set a $3.00 price target, citing the coal company's ample liquidity, an expectation for a winter rally in U.S. natural gas prices, and the significant pullback in the company's shares. In premarket trading, shares rose 10% to $2.73.
China-based Zhongpin has agreed to be taken private by a group that includes its chief executive in a deal that values the meat and food processor at about $503 million. Shares jumped 17% to $12.66 premarket, below the $13.50 a share offer price, first unveiled in March.
Generac Holdings Inc. (GNRC) unveiled a secondary offering of about 11.5 million shares on behalf of its biggest shareholder and members of the company's board and senior management, following a recent runup in price. Generac, which is the leading maker of standby residential-backup generators, had been billed as a big winner from the recent destruction caused by superstorm Sandy. Share fell 5.4% to $33.39 premarket.
Watchlist:
ConocoPhillips' (COP) latest step in its international asset-sale effort is the oil company's 8.4% stake in a north Caspian Sea venture in Kazakh waters. Conoco is projecting deal proceeds of some $5 billion, versus the nearly $5.5 billion the company valued the assets at as of Sept. 30. As such, the company projects a fourth-quarter write-down of some $400 million.
Insperity Inc. (NSP) has commenced a modified Dutch auction tender offer to repurchase up to $50 million of stock and declared a special cash dividend, joining a list of companies making moves ahead of a potential increase in dividend taxes.
Mohawk Industries Inc. (MHK) is in negotiations to buy Italian ceramic-tile company Marazzi Group, Reuters reported Friday, citing two sources familiar with the deal. One source said a deal would be worth about $1.2 billion, Reuters reported.
UnitedHealth Group Inc. (UNH) projected earnings below analyst expectations for next year, though the figure represents an improvement over the health insurer's profit forecast for 2012. The largest managed-care firm by revenue and membership provided the outlook ahead of its annual investor conference Tuesday in New York.
Brick-and-mortar retailers used heavily promoted Black Friday doorbusters--big sales on special items geared to draw in customers--even more this year to try to push back the ever growing competition from the web. Saks Inc. (SKS), Big Lots Inc. (BIG) and Wal-Mart Stores Inc. (WMT) shares rose more than the broader market during regular session trading Friday.
A mix of retro toys like the new, tech-focused Furby and newer brands including the "Skylanders: Giants" video game and the freaky guys and ghouls of Monster High are generating the greatest buzz in the children's toy aisle this holiday season. Observers will keenly watch the performance of Wal-Mart, Toys "R" Us Inc. and Target Corp. (TGT) since those three retailers contribute roughly two-thirds of annual sales for many top toy manufacturers.
Home-furnishing retailers are entering the holiday season on track for their strongest sales year since 2008--but face new challenges as they try to lure shoppers online with wreathes, ornaments and gift ideas. Online shopping for home furnishings posted double-digit growth last year, and analysts say it is a game all the players are still trying to figure out, prompting retailers from Williams-Sonoma Inc. (WSM) to Pier 1 Imports Inc. (PIR) to offer Black Friday deals online as well as in stores.
Write to Anna Prior at anna.prior@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
