NEW YORK (Dow Jones) - Companies whose shares are expected to move significantly in trading on Monday include A.S.V (NASDAQ-NMS:ASVI) ., Citi, IBM (NYSE:IBM) , Merrill Lynch (NYSE:MER) , Mesa Air (NASDAQ-NMS:MESA) and Sears Holdings (NASDAQ-NMS:SHLD) .
A.S.V. Inc. (NASDAQ-NMS:ASVI) , (ASVI) the Grand Rapids, Minn., producer of rubber track loaders and accessories, undercarriages and traction products, definitively agreed to be acquired by Terex Corp. (NYSE:TEX) for $18 a share, or $488 million, the companies said. Terex (NYSE:TEX) (TEX) is the Westport, Conn., producer of equipment for industries including construction, mining, infrastructure, transportation, and more. A.S.V (NASDAQ-NMS:ASVI) . shares closed Friday at $12.29, indicating that Terex (NYSE:TEX) is paying a 46% premium for the stock. In the past 52 weeks, A.S.V (NASDAQ-NMS:ASVI) . has traded as high as $19.45 -- in June 2006 -- and as low as $10.11, in November. Caterpillar Inc. (NYSE:CAT) , (CAT) the Peoria, Ill., heavy-equipment manufacturer, holds 23.5% of A.S.V (NASDAQ-NMS:ASVI) . and is a major customer of the company as well. CAT backs the deal, the companies said.
Citigroup (NYSE:C) (C) could write down as much as $24 billion when it reports earnings on Tuesday, according to an unsourced report on the CNBC Website. The report also said that the bank could be planning to cut 20,000 jobs and cut its dividend. Separately, Citigroup's (NYSE:C) plan to raise around $2 billion of capital by selling a stake to China Development Bank could be in jeopardy because the Chinese government opposes the deal, The Wall Street Journal reported Monday. Opposition appears to have arisen over the weekend, though it's not clear whether the stake sale has been halted altogether, the newspaper said, citing a person familiar with the situation. Citigroup (NYSE:C) is seeking capital from foreign investors as it's expected to report additional write-downs from its exposure to U.S. home loans when it reports fourth-quarter earnings Tuesday. The Financial Times reported that the Kuwait Investment Authority may invest as much as $3 billion in Citigroup (NYSE:C) .
GameTech International Inc. (NASDAQ-NMS:GMTC) [(GMTC) fourth-quarter net income rose to $1.7 million, or 13 cents a share, from $1 million, or 8 cents, in the year-earlier period. Analysts had been expecting 10 cents a share, according to Thomson Financial. Sales rose 45% to $17.4 million.
Genesee & Wyoming Inc. (NYSE:GWR) (GWR) December traffic from continuing operations was 61,808 carloads, down 3.7% from a year ago. The decrease was principally due to the discontinuation of haulage traffic on GWI's Meridian & Bigbee Railroad.
