Pre-Open Movers 9/18: Investment Banks Still Under Pressure (GS, MS); WaMu (WM) Up On Deal Reports

September 18, 2008 9:36 AM EDT

StreetInsider.com Pre-Open Movers:

SurModics, Inc. (Nasdaq: SRDX) 25% LOWER; announced that Merck & Co. (NYSE: MRK) has notified the company that it will discontinue the License and Research Collaboration Agreement the companies signed in June 2007.

Capstone Turbine Corp. (Nasdaq: CPST) 20% LOWER; announced a registered offering of 21,485,660 shares of common stock and warrants to purchase an additional 6,445,698 shares of common stock

Washington Mutual Inc. (NYSE: WM) 15% HIGHER; Reports Wells Fargo (NYSE: WFC) and Citigroup (NYSE: C) have now expressed interest in Washington Mutual. Goldman Sachs was been hired as WaMu's advisor

UBS AG (NYSE: UBS) 14% HIGHER; Rebounds after yesterday's sell-off on fears.

ProLogis (NYSE: PLD) 13% LOWER; today announced that its Board has approved a 10.2% increase in its quarterly dividend from $0.52 to $0.57 per common share. ProLogis also lowered its FY08 FFO guidance from $4.65-$4.85 to $4.00-$4.35, versus the consensus of $4.91.

National City (NYSE: NCC) 13% HIGHER; WaMu news

Apogee Enterprises Inc. (Nasdaq: APOG) 10% LOWER; reports Q2 EPS of $0.43, versus the consensus of $0.41. Revenues came in at $245 million, versus the consensus of $241.95 million. Sees FY EPS of $1.65-$1.82, down from prior guidance of $1.82-$1.984, which is down primarily due to project delays and two project cancellations. The Wall Street EPS consensus of $1.81. 

Goldman Sachs Group Inc. (NYSE: GS) 8% LOWER; continue pressure for the larger independent investment banks.

Wachovia (NYSE: WB) 8% HIGHER; Reports Morgan Stanley (NYSE: MS) is considering a merger with the Wachovia Corporation (NYSE: WB) or another bank.

Morgan Stanley (NYSE: MS) 6% LOWER; Down for the eighth straight session. Today there are reports the company is in merger talks with Wachovia

Constellation Energy Group, Inc. (NYSE: CEG) 5% HIGHER; reports from the Wall Street Journal, French state-run power company Electricite de France SA is considering raising its stake or buying the company.

Harmony Gold Mining Co. Ltd. (NYSE: HMY) 4% HIGHER; Gold higher again on flight to quality. Other gold stocks: SPDR Gold Shares (NYSE: GLD), Market Vectors Gold Miners ETF (AMEX: GDX), Harmony Gold Mining Co. Ltd. (NYSE: HMY), Yamana Gold, Inc. (AUY), Barrick Gold Corporation (NYSE: ABX) 10%, Goldcorp Inc. (NYSE: GG), Newmont Mining Corp. (NYSE: NEM), Kinross Gold Corp. (NYSE: KGC), Agnico-Eagle Mines Ltd. (NYSE: AME). 

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• UBS
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• Morgan Stanley
• Wachovia
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