StreetInsider.com Pre-Open Movers 08/28

August 28, 2006 9:26 AM EDT

StreetInsider.com Pre-Open Movers:

Oilgear Co. (Nasdaq: OLGR) 35.5% HIGHER; entered into an Agreement and Plan of Merger with Lincoln Acquisition Corp., a wholly-owned subsidiary of Mason Wells Buyout Fund II, Limited Partnership, an affiliate of the Milwaukee-based private equity firm Mason Wells. Shareholders of the Company will receive cash consideration of $15.25 per share.

InterVideo Inc. (Nasdaq: IVII) 31.9% HIGHER; Corel Corporation (NASDAQ: CREL) and InterVideo entered into a definitive agreement for Corel to acquire InterVideo in an all-cash transaction at a price of $13 US per share or pproximately $196 million.

Discovery Partners International, Inc. (Nasdaq: DPII) 30% HIGHER; merger partner Infinity Pharmaceuticals entered into a deal MedImmune, Inc. (Nasdaq: MEDI) to jointly develop and commercialize novel small molecule cancer drugs targeting Heat Shock Protein 90 (Hsp90) and the Hedgehog cell-signaling pathway.

EPIX Pharmaceuticals, Inc. (NASDAQ: EPIXD) 23% LOWER; has received a letter from the U.S. Food and Drug Administration (FDA) denying EPIX's formal appeal to approve its novel blood-pool imaging agent Vasovist and turning down EPIX's request for an Advisory Committee to review Vasovist.

Giant Industries Inc. (NYSE: GI) 13.8% HIGHER; Western Refining, Inc. (NYSE: WNR) and Giant Industries announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which Western will acquire all of the outstanding shares of Giant for $83.00 per share in cash.

Anadigics, Inc. (Nasdaq: ANAD) 12% HIGHER; positive Barron's article

Avanex Corp. (Nasdaq: AVNX) 9.8% HIGHER; announces preliminary Q4 revenue of $45.5 million versus the consensus of $43.6 million, will report its full fourth quarter and fiscal year 2006 financial results in a press release and conference call on Tuesday, Sept. 5, 2006. Avanex sees Q1 revenue of $48-$50 million versus the consensus of $46 million.

eBay Inc. (Nasdaq: EBAY) 3.2% HIGHER; Google Inc. and eBay Inc. announced a multi-year agreement involving text-based advertising and "click-to-call" advertising functionality.

Kinder Morgan, Inc. (NYSE: KMI) 2.7% HIGHER; has signed a definitive merger agreement under which Chairman and CEO Richard D. Kinder, together with other members of management, co-founder Bill Morgan, current board members Fayez Sarofim and Mike Morgan, and investment partners Goldman Sachs Capital Partners and certain affiliates, American International Group, Inc. and certain affiliates (principally AIG Financial Products and AIG Highstar Capital), The Carlyle Group and Riverstone Holdings LLC, will acquire KMI in a transaction valued at approximately $22 billion. KMI stockholders will receive $107.50 in cash for each share of KMI common stock they hold.

Red Hat Inc. (Nasdaq: RHAT) 2.5% LOWER; Soleil Securities downgrades Red Hat from Hold to Sell and cuts its price target from $26 to $19.

United States Steel Corp. (NYSE: X) 2% LOWER; Prudential Securities Downgrades U.S. Steel (X) to Underweight

NVIDIA Corp. (Nasdaq: NVDA) 1.6% HIGHER; Friedman, Billings, Ramsey upgrades NVIDIA Corp. (NVDA) to Outperform

Amazon.com Inc. (Nasdaq: AMZN) 1.4% HIGHER; has authorized a repurchase up to $500 million of the Company's common stock within the next 24 months.

Intel Corp. (Nasdaq: INTC) 1.2% LOWER; Friedman, Billings, Ramsey upgrades Intel Corporation (INTC) to Outperform

Aventine Renewable Energy (NYSE: AVR) 1% LOWER; Soleil Securities downgrades Aventine Renewable Energy from Buy to Hold with a $25 price target.

Google Inc. (Nasdaq: GOOG) 0.8% HIGHER; Google Inc. and eBay Inc. announced a multi-year agreement involving text-based advertising and "click-to-call" advertising functionality.

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