Pre-Open Movers 9/2: Sciele Pharma (SCRX) Higher On Buyout; Airlines (DAL, AMR, LCC, etc.) Up On Drop in Crude

September 2, 2008 9:26 AM EDT

StreetInsider.com Pre-Open Movers:

Sciele Pharma, Inc. (NASDAQ: SCRX) 58% HIGHER; entered into a definitive agreement to be acquied by Shionogi & Co., Ltd. at a price of $31 per share, for a total equity purchase price of approximately $1.1 billion.

Delta Air Lines (NYSE: DAL) 14% HIGHER; Airlines are higher on today's $7 drop in Crude after Hurricane Gustav was much less severe than expected. Other airlines: Northwest Airlines (NYSE: NWA), UAL Corp (NYSE: UAUA), AMR (NYSE: AMR), AirTran Holdings (NYSE: AAI), Continental Airlines (NYSE: CAL), Southwest Airlines (NYSE: LUV), Alaska Air (NYSE: ALK), US Airways Group, Inc. (NYSE: LCC).

Lehman Brothers (NYSE: LEH) 7% HIGHER; Korea Development Bank confirmed it is in talks to invest in Lehman Brothers, following weeks of speculation.

Eagle Test Systems, Inc. (NASDAQ: EGLT) 6% HIGHER; Teradyne, Inc. (NYSE: TER) signed a definitive agreement to acquire Eagle Test Systems, Inc. for $15.65 per share in cash. Shares of Eagle Test Systems closed at $14.18/share on Friday.

Palm (Nasdaq: PALM) 5% HIGHER; Cowen & Co. initiates coverage on Palm with an Outperform rating.

Priceline.com (Nasdaq: PCLN) 3.5% HIGHER; Credit Suisse Upgrades Priceline.com from Neutral to Outperform.

Chesapeake Energy Corp. (NYSE: CHK) 3% LOWER; Big drop in Natural Gas after Hurricane Gustav was much less severe than expected.

AMAG Pharmaceuticals (Nasdaq: AMAG) 3% HIGHER; Needham & Co. initiates coverage on AMAG Pharmaceuticals with a Buy. Price target $80.

Apple (Nasdaq: AAPL) 1.5% HIGHER; Piper Jaffray Adds Apple to Alpha List; Reiterates Buy

International Shipholding Corporation (NYSE: ISH) INDICATED HIGHER; Liberty Shipping Group LLC sent a letter to the International Shipholding Corporation Board of Directors proposing to acquire all of the outstanding shares of International Shipholding common stock for $25.75 per share in cash.


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AAI 3.33

+0.02 +0.60%
Volume: 2,243,874
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AAPL 91.41

-4.49 -4.68%
Volume: 38,986,821
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ALK 24.39

-0.37 -1.49%
Volume: 1,015,774
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AMAG 32.83

-0.93 -2.75%
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AMR 8.79

+0.32 +3.78%
Volume: 11,989,664
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CAL 15.48

+0.29 +1.91%
Volume: 8,489,322
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CHK 11.84

-2.26 -16.03%
Volume: 43,066,247
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DAL 8.88

+0.14 +1.60%
Volume: 12,866,228
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EGLT 15.55

+0.00 +0.00%
Volume: 334,161
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ISH 21.91

-0.73 -3.22%
Volume: 56,258
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LCC 6.65

+0.48 +7.78%
Volume: 9,253,569
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LEH 0.13

+0.00 +0.00%
Volume: 0
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LUV 8.43

+0.13 +1.57%
Volume: 9,508,854
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NWA 9.90

+0.00 +0.00%
Volume: 15,676,884
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PALM 1.54

-0.14 -8.33%
Volume: 2,040,562
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PCLN 58.23

-1.94 -3.22%
Volume: 1,550,342
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SCRX 31.01

+0.00 +0.00%
Volume: 1,079,026
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TER 3.69

-0.06 -1.60%
Volume: 3,830,615
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UAUA 10.43

+0.51 +5.14%
Volume: 8,312,959
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