April 27- Drug developer Celladon Corp said it expected to announce lay-offs and cost cuts as its stock plunged to an all-time low after the company's lead experimental gene therapy to treat heart failure failed a key trial. Celladon lost nearly 80 percent of its market value in early trading on Monday, with the stock falling to a record low of $2.76.» Read More
NEW YORK-- Chinese plant and animal feed maker Yongye International said Monday that a group including its CEO is offering to take the company private.
NASHVILLE, Tenn.-- Wellness program administrator Healthways Inc. said Monday it received a contract with a health plan that covers Tennessee state and local government employees and their families. Healthways did not disclose terms of the agreement, but said it will create 100 new jobs in Tennessee.
In morning trading, benchmark crude oil is down 1.9 percent, or $1.71, at $90.15. The Commerce Department says retail sales rose 1.1 percent last month. On Friday, the International Energy Agency issued a new report predicting slower growth in demand for oil over the next five years.
NEW YORK-- An analyst for BMO Research on Monday raised his rating on CostCo Wholesale Corp., saying he's less worried about high costs hurting the company's profitability. He had been concerned about Costco's gross margin rate, or profitability. The rate has been hurt as costs for stocking shelves have increased for Costco and other big-box retailers.
JOHANNESBURG-- Some 200,000 workers across South Africa will stop working later this week to protest official corruption and poor pay, a spokesman for the South African Municipal Workers' Union said, in action that will increase pressure on an economy already reeling from the impact of wildcat strikes in the crucial mining sector.
CHICAGO-- Electronic health records company Allscripts Health Solutions Inc. on Monday said Richard Poulton will soon be its new chief financial officer. Poulton most recently worked as the treasurer and CFO of defense contractor AAR Corp. He previously held executive positions at UAL Corp., the parent of United Airlines.
CHARLOTTE, N.C.-- NASCAR and Fox Sports Media Group announced a $2.4 billion, eight-year extension Monday that runs through 2022 and keeps the prestigious Daytona 500 and first third of the Sprint Cup Series on the network.
INDIANAPOLIS-- Eli Lilly and Co. said a potential stomach cancer treatment met goals for improved patient survival and progression-free survival when compared to a dummy treatment in a late-stage clinical study. Shares of the Indianapolis drug developer climbed 3 percent, or $1.52, to $51.97 in Monday morning trading after the company released the report.
NEW YORK-- A former stock broker was arrested early Monday on charges of defrauding the producers of the Broadway musical adaptation of Alfred Hitchcock's psychological thriller "Rebecca."
EDINBURGH-- Britain's Prime Minister David Cameron signed a deal Monday with the leader of Scotland's separatist administration on a referendum that could break up the United Kingdom. Officials from London and Edinburgh have been meeting for weeks to hammer out details of a vote on Scottish independence.
LUXEMBOURG-- The European Union, concerned by what it called Iran's refusal to come clean on its nuclear program, imposed a new range of sanctions Monday intended to hit the country's treasury and increase pressure on its Islamic regime.
PORTLAND, Ore.-- The AAA auto club reports the average price of a gallon of gasoline in Oregon is $4.07. It's 28 cents higher than the national average. Portland $4.05, Salem $4.04, Eugene- Springfield $4.10, and Medford- Ashland $4.16.
WASHINGTON-- U.S. companies restocked their shelves at a solid pace in August while sales rose for a second straight month. Business inventories grew 0.6 percent in August following a July gain of 0.8 percent that had been the strongest since January, the Commerce Department said Monday. Total business stockpiles rose to $1.60 trillion.
Transportation Secretary Ray LaHood is expected to discuss regional transit and a proposed passenger rail system in Detroit during a meeting including area officials. Rick Snyder says the governor plans to meet with LaHood, Detroit Mayor Bing and others on Monday afternoon.
The shows will take place on Nov. 25 and 29 at London's O2 Arena, followed by gigs on Dec. 13 and 15 at the Prudential Center in Newark, New Jersey, just outside of New York. The shows mark the first time in five years that the Stones have performed live, with Mick Jagger, Keith Richards, Charlie Watts and Ronnie Wood all coming together once more.
NEW YORK-- Industrial parts supplier ITT Corp. said Monday it has signed an agreement to buy Bornemann Pumps, a German company that makes pump systems for the oil and gas industry. ITT said the deal is worth about $267 million, but it didn't specify whether that figure includes debt. Shares of ITT rose 31 cents to $20.86 in morning trading.
DEARBORN, Mich.-- AAA Michigan says gasoline prices have fallen roughly 14 cents during the past week to a statewide average of about $3.77 per gallon. Of the Michigan cities it surveys, AAA Michigan said the cheapest price for self-serve unleaded fuel is in the Benton Harbor and Flint areas, where it's about $3.71 a gallon.
PORTLAND, Maine-- Gas prices in Maine have fallen by a nickel a gallon in the past week. Price-monitoring website MaineGasPrices.com reports Monday that gas dropped to an average of $3.88 per gallon in Maine in the past week. Prices are now about 14 cents a gallon lower than a month ago, but 35 cents higher than a year ago.
CHICAGO-- Chicago Mayor Rahm Emanuel has ordered an independent audit of the city's 75- year, $1.15 billion parking meter deal. The audit will look at the agreement with Chicago Parking Meters LLC to make sure the company's revenue collections match the number of parking meters used around the city.
NEW YORK-- Amazon has alerted its Kindle customers that they are entitled to a credit on prior electronic book purchases as part of settlements between some major e-book publishers and the government.