SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Friday's session are InterMune Inc., Ipsco Inc. and Standard Motor Products Inc.
After Thursday's closing bell, InterMune (ITMN) said it has filed a universal shelf registration statement to sell up to $175 million of its shares, preferred stock, debt securities and warrants. The biotech concern said Warburg, Pincus Equity Partners L.P. registered its 7.36 million previously-issued shares, and may be a selling shareholder.
Ipsco (IPS) cut its fourth-quarter earnings outlook to a range of $3 to $3.10 a share, excluding certain items. The Lisle, Ill.-based maker of steel products had previously forecast earnings in a range of $3.30 to $3.50 a share. The company said it has experienced a larger-than-expected decline in demand for plate and tube shipments in the fourth quarter.
Standard Motor (SMP) said it has sold a majority portion of its European Temperature Control unit to a current manager of the business. The proceeds from the sale are $3.1 million, and the company will incur a loss on the divestiture of $3 million to $4 million in the fourth quarter.
Ternium S.A. (TX) said it has acquired CVRD International S.A.'s 4.85 percent stake in Siderar S.A. for $107.5 million. Luxembourg-based Ternium said it paid a discounted price of $6.376 a share for CVRD's stake, increasing its ownership in Siderar to 60.93 percent. CVRD International is a unit of Companhia Vale do Rio Doce (RIO) (RIOPR) .
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