Shares were surging 41% to $1.10 in premarket trading Monday.
Arch Coal (ACI) cut its 2011 earnings outlook to an adjusted profit of $1 to $1.40 a share late Friday, lower than the earnings of $2.02 a share that analysts had been projecting. The company blamed lost metallurgical coal production at its Mountain Laurel facility.
Shares were plunging 9.1% to $13.25.
Alibaba Chairman Jack Ma expressed strong interest in acquiring troubled Internet company Yahoo! (YHOO), according to published media reports. Shares of Yahoo! were adding 6.3% to $14. Yahoo! owns 40% of Alibaba Group, which owns multiple Internet businesses in China.
Electronic payments firm ACI Worldwide (ACIW) is acquiring payments products company S1 (SONE) for $9.55 a share, an increase of 42 cents a share in cash from ACI's previous offer. The acquisition consists of about $360 million in cash and 5.8 million in ACI shares. Shares of S1 were gaining 5% to $9.63. ACI shares were unchanged at $27.54.
Apple (AAPL) is expected to launch the iPhone 5 on Tuesday. Apple shares were up 0.6% to $383.71.
U.S. automakers Ford (F) and General Motors (GM) are expected to report September car sales numbers Monday. Ford shares were down 0.3% to $9.64.
Health insurer WellPoint (WLP) increased its stock buyback program by $5 billion.
Heavy vehicles supplier Oshkosh (OSK) said union workers have overwhelmingly rejected a new, five-year contract, even though it would have given them a raise and signing bonus. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
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