SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Monday's session are Agilent Technologies Inc., Amgen Inc. and Merck & Co.
Agilent Technologies (A) is expected to report second-quarter earnings of 44 cents a share, according to a survey of analysts by Thomson Financial.
Canadian Solar Inc. (CSIQ) is expected to post a loss of 12 cents a share for the first quarter.
Employers Holdings Inc. (EIG) is expected to report first-quarter earnings of 43 cents a share.
Gilat Satellite Networks Ltd. (GILT) is expected to post earnings of 10 cents a share for the first quarter.
Grubb & Ellis Co. (GBE) is expected to report a third-quarter loss of 8 cents a share.
ICF International Inc. (ICFI) is expected to post earnings of 45 cents a share for the first quarter.
PetMed Express Inc. (PETS) is expected to report fourth-quarter earnings of 14 cents a share.
Sina Corp. (SINA) is expected to post earnings of 18 cents a share for the first quarter.
Stec Inc. (STEC) is expected to report first-quarter earnings of 7 cents a share.
Valspar Corp. (VAL) is expected to post earnings of 39 cents a share for the second quarter.
Amgen (AMGN) suffered a series of downgrades Friday after a Food and Drug Administration panel said it wants the warning labels on the company's blockbuster anemia drugs to be strengthened further, a move that could significantly dent the company's revenue.
Cabot Corp. (CBT) said it has approved a stock buyback plan of up to 5 million shares. As part of the authorization, the company terminated its previously existing share buyback program, which had 1.5 million shares remaining. The Boston-based chemical company also said it has established a $10 million reserve, related to the federal carbon black antitrust litigation, in its financial results for its fiscal second quarter ended March 31.
Merck (MRK) said it has received an approvable letter from the Food and Drug Administration for the company's new drug application for Emend, an investigational intravenous therapy for chemotherapy-induced nausea and vomiting. Merck said the FDA has informed the company that before the application can be approved, "additional manufacturing validation and stability data are required as well as certain additional data." Merck plans to submit the data within the next few months. Once a response to the letter has been submitted, the FDA's review of the Emend application is expected to take about six months. Merck is based in Whitehouse Station, N.Y.
Teva Pharmaceutical Industries Ltd. (TEVA) said a U.S. district court has found that Eisai Co.'s patent for its acid pump inhibitor, Aciphex, is enforceable. The Israeli pharmaceutical company said it plans to appeal the ruling immediately as well as the court's decision granting summary judgment of validity to Eisai. Teva said its abbreviated new drug application to market a generic version of Aciphex has already been approved by the Food and Drug Administration. The company said it's been awarded 180 days marketing exclusivity for the product, which will start on the earlier of the date of first commercial launch or a final court decision. The ruling came from the U.S. District Court for the Southern District of New York.
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