SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are McClatchy Co., UnitedHealth Group Inc. and Vascular Solutions Inc.
After Tuesday's closing bell, McClatchy (MNI) said it has agreed to sell the Star Tribune newspaper of Minneapolis to Avista Capital Partners for $530 million. The media company added that it expects a future cash tax benefit of about $160 million related to the sale.
BioVeris Corp. (BIOV) said it has entered into a technology license agreement with Baxter Healthcare Corp., a unit of Baxter International Inc. (BAX) . Under the agreement, BioVeris received non-exclusive worldwide patent rights and know-how to use Neisseria meningitidis group C vaccine as a component in new vaccine candidates for the prevention of meningitis and sepsis.
Ditech Networks Inc. (DITC) said it has received a Nasdaq non-compliance notice because the company did not file its report for the quarter ended Oct. 31 on time. As a result, the company's shares are subject to delisting.
Granite Construction Inc. (GVA) said one of its units, in joint venture with Fred Weber Inc. and Millstone-Bangert Inc., has been awarded a $420 million contract by the Missouri Highways and Transportation Commission. Granite's portion of the contract is $210 million.
Monster Worldwide Inc. (MNST) said its board has elected Philip Lochner Jr. as a director, effective immediately. Among other prior positions, Lochner has served as a commissioner with the Securities and Exchange Commission. Lochner will join the special committee investigating the company's historical stock-option practices, and serve on the committee addressing related civil litigation.
Red Robin Gourmet Burgers Inc. (RRGB) said it has acquired the Puyallup restaurant in Washington state. Red Robin sees a charge of a penny a share in the fourth quarter relating to the termination of the franchise agreement for the Puyallup restaurant.
Refco Inc. (RFXCQ) said its Chapter 11 plan has become effective, allowing the company and its units to complete the wind-up of their business. Under the plan, secured lenders who were owed $717.7 million were paid in full before the plan's confirmation, the financial services provider said. Bondholders are expected to receive 83.4 cents on the dollar for their claims, while Refco Capital Markets' securities customers are expected to receive about 85.6 cents on the dollar for their claims, the company said.
UnitedHealth (UNH) has received a formal order of investigation about its stock-option practices from Securities and Exchange Commission staff, according to a Tuesday regulatory filing. In April, the health insurer said it had received an informal inquiry from the SEC.
Vascular Solutions (VASC) said the Food and Drug Administration has approved its premarket approval supplement for the D-Stat Flowable hemostat to reduce the incidence of clinically significant hematomas during the implantation of pacemakers or other devices.
Wolverine Tube Inc. (WLV) said the New York Stock Exchange plans to suspend trading in the company's stock before the opening on Jan. 3, and initiate procedures to delist it.