The stocks that are most likely to grab investors’ attention are Nexen, Intermec Inc. (NYSE:IN), Diamond Foods, Inc. (NASDAQ:DMND), Zogenix, Inc. (NASDAQ:ZGNX) and American International Group, Inc. (NYSE:AIG).
Intermec Inc. (NYSE:IN): Honeywell International Inc. (NYSE:HON) has announced to acquire Intermec Inc. (NYSE:IN) for approximately $600 million to expand its business in mobile computing devices. Intermec Inc. (NYSE:IN) stocks jumped 23 percent in premarket trading to $9.81, slightly below $10 a share offered by Honeywell. Honeywell had offered a 25 percent premium on the company’s closing price on Friday.
Nexen Inc. (USA) (NYSE:NXY): Canadian regulators today approved Beijing-based energy giant CNOOC Limited (NYSE:CEO) (HKG:0883)’s $15.1 billion bid to acquire Nexen Inc. (USA) (NYSE:NXY). It was one of the biggest hurdles in the biggest foreign takeover by a Chinese firm. Nexen shares jumped 14.80 percent to $27 in after hours trading. CNOOC shares surged 0.73 percent on Friday to close at $216.80.
Diamond Foods, Inc. (NASDAQ:DMND): The company has been struggling with a plant closure and a series of investigations related to its accounting scandal. Diamond Foods, Inc. (NASDAQ:DMND) reported 78 percent decline in its fourth quarter earnings from 23 cents last year to 5 cents. The full year earnings are also down 67 percent. During the fourth quarter, the company’s revenues declined 5 percent to $224.0 million. Stocks were already down 6.1 percent in premarket trading to $13.90.
Zogenix, Inc. (NASDAQ:ZGNX): The pharmaceutical company’s stocks declined 39 percent to $1.45 a share in premarket trading after the company announced that USFDA advisory committee has voted against the treatment it developed for chronic pain. Zogenix, Inc. (NASDAQ:ZGNX) manufactures drugs for the treatment of central nervous system diseases and disorders.
ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS): ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) said it has reached an agreement with Biogen Idec to develop anti-sense drugs to treat neurological and neuromuscular disorders. Biogen will pay Isis $30 million upfront. Isis could further receive $200 million in milestone payments and license fee. Isis Pharmaceuticals’ shares surged 5.4% to $9.47 in premarket trading.
American International Group, Inc. (NYSE:AIG): The New York-based insurer expects to suffer heavy losses in fourth quarter due to superstorm Sandy. The losses may reach $1.3 billion post-taxes.
Other companies that are likely to witness heavy trading are Groupon Inc (NASDAQ:GRPN), John Wiley & Sons and Molycorp Inc.