AMB Property ( AMB) and ProLogis ( PLD) have agreed to merge. The combined company will have a total market capitalization of more than $24 billion. Premarket quotes weren't available for AMB. The stock finished at $32.93 on Friday, down 3.2%. ProLogis fell 0.7% to $15.10 in early trading.
TransDigm ( TDG) said it will sell its fastener businesses to Alcoa ( AA) for about $240 million. Alcoa was up 0.1% to $16.15 in premarket trading. Premarket quotes weren't available for TransDigm. The stock fell 1.4% to $76.70 on Friday.
Alpha Natural Resources ( ANR) reached a deal to acquire Massey Energy ( MEE) for roughly $7.1 billion in cash and stock. Shares of Alpha Natural fell 6.4% to $54.15 in premarket trading, while Massey surged 12.4% to $64.32.
Chinese offshore oil and gas producer Cnooc ( CEO) will invest up to $1.3 billion in a new agreement with Chesapeake Energy ( CHK), increasing its presence in the U.S. shale oil and gas industry. Premarket quotes weren't available for Cnooc. Cnooc fell 6.7% to $220.49 on Friday. Chesapeake rose 2% to $27.88 in early trading Monday.
A slate of earnings reports are scheduled for release after the market close on Monday. Already dominant in the Chinese Internet search engine market, Baidu ( BIDU) investors will be looking for signs on how much more the company can grow its share in the market. Shares of Baidu rose 1.1% to $107.74. Anadarko Petroleum ( APC) will be hosting its conference call the morning after it releases quarterly earnings. The consensus estimate on the earnings has a wide range, from a profit of 57 cents a share to a loss of 11 cents. Anadarko rose 0.3% to $74.40. Novellus Systems ( NVLS) is expected to post earnings of 94 cents a share on net sales of $377.8 million vs. year-earlier earnings of 39 cents a share on net sales of $244.2 million. Premarket quotes weren't available for Novellus. The stock ended Friday's trading session down 3.3% to $35.78.
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