Pre-Open Movers: CSK Auto (CAO) Up On Buyback, Lehman Bros (LEH) Up on Oversubscribed Offer
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StreetInsider.com Pre-Open Movers:
Thornburg Mortgage Inc. (NYSE: TMA) 31% HIGHER; Raises $1.35 Billion Through Private Placement of Senior Subordinated Secured Notes and Warrants
Cell Genesys, Inc. (Nasdaq: CEGE) 22% HIGHER; The company and Takeda Pharmaceutical formed a global alliance for the development and commercialization of GVAX immunotherapy for prostate cancer, Cell Genesys' lead product candidate currently in Phase 3 clinical development.
CSK Auto Corporation (NYSE: CAO) 22% HIGHER; O'Reilly Automotive, Inc. (Nasdaq: ORLY) and CSK Auto Corporation announced that the two companies have signed a definitive merger agreement under which O'Reilly will acquire all of the outstanding shares of CSK common stock pursuant to an exchange offer, in a transaction valued at approximately $1.0 billion, including approximately $500 million of debt. Under the terms of the agreement, CSK shareholders will receive $11.00 of O'Reilly common stock, subject to a collar, plus $1.00 in cash for each share of CSK common stock.
Lehman Brothers Holdings Inc. (NYSE: LEH) 10% HIGHER; Raises $4 billion in a Convertible Preferred offering. This is up from the $3 billion expected to be raised.
UBS (NYSE: UBS) 9% HIGHER; Higher despite announcing a Q1 estimated net loss of approximately CHF 12 billion on writedowns of approximately USD 19 billion on US real estate and related structured credit positions.
KKR Financial Holdings LLC (NYSE: KFN) 6% LOWER; announced a proposed public offering of 20,000,000 of its common shares.
Hansen Natural (Nasdaq: HANS) 5% HIGHER; Goldman upgrades to Buy
Akamai Technologies (Nasdaq: AKAM) 5% HIGHER; Piper upgrades to Buy
Pier 1 Imports (NYSE: PIR) 4.6% HIGHER; DB upgrades to Buy
Altria Group Inc. (NYSE: MO) 4% LOWER; MS downgrades to EqualWeight
AstraZeneca plc (NYSE: AZN) 3.5% HIGHER; JPMor ugprades to Neutral
Yahoo! Inc. (Nasdaq: YHOO) 2.6% LOWER; WSJ reports Microsoft may not raise its bid for the company
VMware, Inc. (NYSE: VMW) 2% HIGHER; Wachovia upgrades to Outperform
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