Companies whose shares are expected to trade actively in today's session are Affymax, Inc. (NASDAQ:AFFY), Elan Corporation, plc (NYSE:ELN), Barnes & Noble, Inc. (NYSE:BKS), Pearson PLC (NYSE:PSO) and Hertz Global Holdings, Inc. (NYSE:HTZ).
Affymax, Inc. (NASDAQ:AFFY): The drug maker had to recall its Omantys drug for anemia after reports of allergic reactions in kidney-disease patients and some deaths. Of 25,000 patients, five died and 50 had severe allergic reactions. The rate of death is 8.5 times higher and the rate of allergic reactions is 100 times higher than a similar treatment from Amgen Inc. Shares of Affymax, Inc. (NASDAQ:AFFY) skidded 84.33 percent to $2.59 in early market trading.
Elan Corporation, plc (NYSE:ELN): Investment firm Royalty Pharma Llc disclosed that it had approached Elan Feb. 18 to acquire the company for $6.55 billion, offering $11 per Elan share. Royalty said it hasn't received a formal response to its proposal yet. The American depository shares of the Irish drug maker rose 8.49 percent to $11.50 in early trading.
Barnes & Noble, Inc. (NYSE:BKS): The company's chairman Leonard Riggio has expressed an interest in acquiring the bookstore chain's retail assets. Investors are speculating that Barnes & Noble could be split into two. Three independent directors of the company are evaluating Riggio's proposal, and they may potentially negotiate a deal. Shares soared 7.40 percent to $14.51 in early market trading.
Pearson PLC (NYSE:PSO): The British publisher announced that it would cut jobs as a part of its restructuring plan. In an attempt to restore growth, the company is focusing on high growth markets and digital education. Pearson issued weak guidance for 2013. American shares of the company plunged 6.27 percent to $17.50 early in the session.
Hertz Global Holdings, Inc. (NYSE:HTZ): The car rental company swung to a fourth quarter loss amid charges related to the acquisition of Dollar Thrifty Automotive Group, Inc. (PINK:DTGF) However, the company's revenues were better than expected. Hertz also issued full years revenues and earnings guidance well above analysts expectations. Share rose 7.31 percent to $20.09 in early trading.