StreetInsider.com Pre-Open Movers: 10/15

October 15, 2007 9:26 AM EDT

StreetInsider.com Pre-Open Movers:

Tektronix, Inc. (NYSE: TEK) 32.8% HIGHER; Danaher Corporation (NYSE: DHR) reached a definitive agreement to acquire Tektronix for $38.00 per share. The aggregate purchase price is approximately $2.8 billion, including debt, transaction costs and net of cash acquired.

Biogen (NASDAQ: BIIB) 20% HIGHER; Said its Board of Directors has authorized management to evaluate whether third parties would have an interest in acquiring the Company. The Company disclosed it has received expressions of interest, including one from investor Carl Icahn.

PHAZAR Corp (Nasdaq: ANTP) 20% HIGHER; announces Q1 net sales were $1.86 million, compared to $1.1 million for the same period in 2006. PHAZAR\'s earnings were $0.08 per share, compared to $0.04 per share for the same period in 2006.

Telik, Inc. (Nasdaq: TELK) 16% HIGHER; said the FDA has removed the partial hold on TELCYTA clinical trials. Telik said this action follows a complete review of TELCYTA data by the agency and permits the resumption of TELCYTA clinical development.

Elan Corp. plc (NYSE: ELN) 11% HIGHER; announced it has hired Lehman Brothers to advise the company related to Friday\'s news that TYSABRI partner Biogen Idec has received expressions of interest from third parties and that its Board of Directors has authorized its management to evaluate potential interest in acquiring the Company. Elan has a 50% interest in the TYSABRI collaboration.

China Petroleum & Chemical Corp. (NYSE: SNP) 11% HIGHER; Citigroup upgrades to Buy

Fuel-Tech, Inc. (Nasdaq: FTEK) 10% HIGHER; Positive Barron\'s mention

Tutogen Medical Inc. (AMEX: TTG) 9% HIGHER; Positive Cramer mention

Syntax-Brillian Corporation (Nasdaq: BRLC) 8% HIGHER; Announces New Large-Screen 1080p Olevia HDTVs.

Oriental Education & Technology Group (NYSE: EDU) 7% HIGHER; reported Q1 diluted EPS of $0.87, $0.91 ex-share-based compensation, above the consensus of $0.79. Revenues rose 42.5% to $81.1 million, versus the consensus of $72.14 million. New Oriental Education & Technology sees Q2 revenues of $28-$29.8 million, representing year-over-year growth in the range of 25.0% to 33.0%, respectively. The Wall Street consensus is $28.1 million.

Eaton Corp. (NYSE: ETN) 5% LOWER; reports Q3 EPS of $1.79, versus the consensus of $1.67. Revenues came in at $3.3 billion versus the consensus of $3.24 billion. Sees Q4 EPS of $1.60-$1.70, and operating EPS (exclude charges to integrate our recent acquisitions) of $1.65-$1.75, versus the consensus of $1.84. Sees FY EPS of $6.50-$6.60, and operating EPS (exclude charges to integrate our recent acquisitions) of $6.75 and $6.85, versus the consensus of $6.83.

Level 3 Communications Inc. (Nasdaq: LVLT) 3.9% LOWER; announced that it is beginning a search for a new CFO for the company. Current CFO Sunit Patel is expected to remain with the company during the transition.

Citigroup Inc. (NYSE: C) 1% HIGHER; reports Q3 EPS of $0.47, down 57% from the prior-year quarter. Results include a $729 million pre-tax gain on the sale of Redecard shares. The EPS consensus was $0.44. Revenue came in at $22.7 billion, versus the consensus of $21.76 billion.

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