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Stocks to Watch: January 9, 2017
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Stocks to Watch: January 9, 2017

Check out which companies are making headlines before the bell:

— The retailer said comparable retail segment net sales for the two-month holiday shopping period ended Dec. 31, 2016, rose 1.5 percent from the same period the prior year. Total company net sales saw a 3 percent year-over-year increase. Urban Outfitters and Free People retail segments saw low single-digit growth in net sales, while that of Anthropologie Group declined 1 percent, according to a release. Shares were more than 11 percent lower in premarket trade.

subsidiary Optum is acquiring Surgical Care Affiliates in a deal worth about $2.3 billion. Shares of SCA jumped nearly 17 percent in premarket trade, while UnitedHealth shares traded half a percent lower.

— Shares climbed more than 5 percent in premarket trade after the firm raised its current-year guidance to adjusted earnings per share of $3.70 to $3.90, up from the prior estimate of $3.45 to $3.55 adjusted earnings per share. The revenue estimate of $3.35 billion to $3.45 billion was also up from a previous forecast of a $3.2 billion to $3.3 billion range.

— Shares leaped more than 70 percent in premarket trade after announced it will acquire Ariad in a deal worth about $5.2 billion, or $24 a share. Shares of Ariad closed at $13.74 per share Friday.

— Goldman Sachs downgraded the beverage maker's stock to "sell" from "neutral," and cut its price target to $39 a share, citing recent structural changes and currency headwinds that will likely constrain earnings growth. Goldman also upgraded to neutral from sell given a more favorable backdrop for U.S.-focused staples stocks, including potential benefits from tax reform.

— Goldman Sachs downgraded the stock to "sell" from "neutral," and trimmed its earnings estimate and valuation multiple, given Procter & Gamble's stretched valuation relative to peers, risk that it cannot turn its business around, and lack of significant upside from tax policy changes or dealmaking.

— The fast-food giant said it is selling a controlling stake in its China business to an investor group led by state-owned Chinese conglomerate Citic. Washington-based private equity firm The Carlyle Group will also have a stake in the deal, which is valued at up to $2.1 billion.

— French drugmaker Ipsen said it would buy some assets of the U.S.-based drugmaker for up to $1 billion. Merrimack shares jumped more than 37 percent in premarket trade.

Wires contributed to this report.