Sees Improvement in Housing Market
Louisiana-Pacific agreed to acquire Canada's Ainsworth Lumber for $1.1 billion in cash and stock. The deal represents a big wager on the housing market, and investors like what they see! LPX rallies 8 percent before the opening bell on my tradeMONSTER platform.
Conn's Falls on Earnings Miss
Conn's reported a third-quarter profit of $0.52 a share, lagging the $0.60 average analyst forecast. Revenue beat but the Street is focusing on that bottom-line miss, which management blamed on delinquencies in its credit unit. CONN falls 12 percent in the premarket.
Pozen Pops on Sanofi Pact
Pozen announced that Sanofi paid $15 million for rights to market two of its experimental heart drugs. The company can get another $20 million in milestone payments, plus royalties if the compounds are approved. POZN climbs 15 percent in early trading.
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