Stocks that are expected to trade actively in the U.S. stock market Monday include: NRG Energy Inc (NYSE:NRG), Clearwire Corporation (NASDAQ:CLWR), Universal Insurance Holdings, Inc. (NYSEAMEX:UVE), Anacor Pharmaceuticals Inc (NASDAQ:ANAC) and Diamond Foods, Inc. (NASDAQ:DMND).
NRG Energy Inc (NYSE:NRG): NRG completed its acquisition of rival Genon Energy Inc (NYSE:GEN) in a $1.7 billion deal. With this transaction, NRG Energy is now the biggest competitive-rate power company in the United States. NRG Energy Inc (NYSE:NRG) said in a statement that it expects $300 million in annual savings after the acquisition. The stock was up 15 cents to $23.15 in morning trading.
Mangrove Partners Narrowly Avoids “Extinction-Level Event”
Nathaniel August's Mangrove Partners is having a rough 2020. According to a copy of the hedge fund's August update, a copy of which ValueWalk has been able to review, for the year to August 5, Mangrove Funds have returned -38%. Over the trailing 12-month period, the funds returned -44%. The S&P 500 produced a positive Read More
Clearwire Corporation (NASDAQ:CLWR): The company’s shares declined more than 8 percent in premarket trading after Sprint Nextel Corporation (NYSE:S) announced to buy the rest of Clearwire Corporation (NASDAQ:CLWR) shares at just $2.97 each. On Friday’s session they closed at $3.37. The deal values the Bellevue, Wash.-based company at $10 billion.
Universal Insurance Holdings, Inc. (NYSEAMEX:UVE): The company is planning to offer $100 million in mixed securities, that may also include stocks. The proceeds will be used to finance future business opportunities. Universal Insurance CEO Bradley I. Meier will also offer seven million shares, that will reduce his holding in the company from 31 percent to about 14 percent.
Anacor Pharmaceuticals Inc (NASDAQ:ANAC): The company plans to raise $75 million through stocks, debt securities and warrants. Anacor Pharmaceuticals Inc (NASDAQ:ANAC) said it needs to pay down debts and finance its research and development activities, including clinical trials.
Diamond Foods, Inc. (NASDAQ:DMND): The San Francisco-based company is expected to announce its first quarter results for 2013. Earnings are estimated to come out at 23 cents per share with $274.4 million in sales, according to FactSet. On December 7, Diamond Foods, Inc. (NASDAQ:DMND) released fourth quarter results ending July 31, 2012, incurring a loss of $1.52 per share on $224 million revenues.
Another important stock to watch today is GlaxoSmithKline plc (NYSE:GSK) (LON:GSK). The British pharmaceutical giant said that U.S. Food and Drug Administration (USFDA) has approved its raxibacumab drug that will be used to treat patients with anthrax.