Shares of Tyson Foods Inc TSN gained about 3.5% after the company swung to FQ4 profit. The company posted its net income at $0.57 per share, compared with a loss of $1.23 per share, in the year-ago period. Excluding special items, Tyson posted its earnings at $0.64 per share. The company's sales came in at $7.44 billion, up from $7.24 billion, in the year-ago quarter. However, analysts were expecting earnings at $0.56 per share on sales of $7.75 billion.
Shares of Novell Inc NOVL rose about 6.8% after the company agreed to be purchased by Attachmate Corp for about $2.2 billion or $6.10 per share in an all cash transaction, representing a 9% premium to the closing price of NOVL on Friday. Novell has also announced its plans to sell certain intellectual property assets to CPTN Holdings LLC for $450 million in cash.
Crude oil futures dropped, as Ireland formally applied for financial aid from the European Union (EU) and International Monetary Fund (IMF) for resolving its banking and budget crisis. Crude oil for January delivery lost 0.1% to $81.82 per barrel.
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