Among the companies with shares expected to actively trade in Monday’s session are Wal-Mart Stores Inc.(WMT), Qualcomm Inc.(QCOM) and Orexigen Therapeutics Inc.(OREX)
Wal-Mart said Chief Executive Officer Mike Duke will retire early next year and be replaced by company veteran Doug McMillon. Mr. McMillon, who is 47 years old and president and CEO of Walmart International, was named to the company’s board effective immediately and will become CEO on Feb. 1. Shares edged up 19 cents to $80 premarket.
Qualcomm said a Chinese government agency is investigating the chip maker under the Chinese antimonopoly law. Qualcomm, a mobile chip maker that supplies the likes of Apple Inc. and Samsung Electronics Co., said it isn’t aware of any activity that violates the antimonopoly law and will continue to cooperate with the National Development and Reform Commission. Shares dropped 2.3% to $71.30 premarket.
Biopharmaceutical company Orexigen Therapeutics Inc. said it will resubmit its new drug application for its weight loss drug in the next few weeks after ruling out cardiovascular risk in obese and overweight patients in a study. The company has been developing a weight-loss ingestible pill called Contrave that it now hopes to be approved by the U.S. Food and Drug Administration by June 2014. Shares surged 13% to $6.40 premarket.
Shares of touch-sensor technology maker Uni-Pixel Inc.(UNXL) slid after the company disclosed in a Securities & Exchange Commission filing that the agency is inquiring about the company’s business deals. The SEC has looked into the company’s agreements related to its InTouch Sensors, though Uni-Pixel said the inquiry shouldn’t be viewed as an indication that any violations of law have occurred. Shares tumbled 18% to $11.50 premarket.
DaVita Healthcare Partners Inc.(DVA) and Fresenius Medical Care AG(FME.XE) & Co. traded higher after the Centers for Medicare and Medicaid Services said it will reduce payments to kidney dialysis providers by less than 1% over the next two years in a reversal of the much-larger cuts it had proposed earlier this summer. The move handed at least a temporary victory to dialysis providers like DaVita and Fresenius. DaVita’s shares jumped 4.4% to $59 premarket, while Fresenius’ stock climbed 7.7% to $34.71.
Allegion(ALLE) PLC will replace J.C. Penney Co.(JCP) in the S&P 500 index after trading concludes Nov. 29, S&P Dow Jones Indices said Friday. Ingersoll-Rand(IR) PLC is due to complete its spinoff of Allegion, which focuses on commercial and residential security, on that date.
McGraw Hill Financial Inc.(MHFI) named Neeraj Sahai as president of Standard & Poor’s Ratings Services, succeeding Douglas Peterson, who took over as chief executive of the parent company earlier this month. Mr. Sahai, 56 years old, will step into the new role on Jan. 6. Since 2005, he has worked as the head of Citigroup Inc.'s(C) (C) securities and fund-services business, which offers securities services to investors, issuers and intermediaries.
Tower Group International Ltd.(TWGP), which is struggling due to a soured acquisition, Friday reported its second-quarter financial results after previously postponing the release twice before. Tower Group said its loss widened in the quarter on $578 million in charges to strengthen its loss reserves and a balance sheet writedown.
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