Pre-Open Movers 2/25: Take-Two (TTWO) Soars On Offer from EA, Getty Images (GYI) Up on Buyout

February 25, 2008 9:29 AM EST

StreetInsider.com Pre-Open Movers:

GTx, Inc. (NASDAQ: GTXI) 56% HIGHER; announced the results of Phase III clinical trials for its toremifene citrate 80 mg, an investigational therapy for the treatment of multiple side effects of androgen deprivation therapy (ADT) for advanced prostate cancer. The results showed that toremifene met key endpoints, according to Phase III data.

Take-Two Interactive Software Inc. (NASDAQ: TTWO) 48% HIGHER; Electronic Arts made an unsolicted offer to acquire the company for $26 per share. TTWO rejected the offer.

Getty Images Inc. (NYSE: GYI) 31% HIGHER; entered into a definitive merger agreement to be acquired by affiliates of the private equity firm Hellman & Friedman LLC in a transaction valued at approximately $2.4 billion, including the assumption of existing debt. Under the terms of the agreement, Getty Images stockholders will receive $34.00 in cash for each outstanding share of common stock they own.

Asyst Technologies, Inc. (Nasdaq: ASYT) 28% HIGHER; Aquest Systems Corp. and The Gores Group, LLC released a letter describing their proposal to explore the acquisition of Asyst Technologies, Inc. at a significant premium to the company's current share price. The two made a proposal to acquire ASYT for $5.00-$6.00 per share.

Immtech Pharmaceuticals, Inc. (Amex: IMM) 20% LOWER; said it will focus on its new drug discovery programs targeting Hepatitis C, and drug-resistant bacterial and fungal infections, and will discontinue all development programs for pafuramidine maleate, an investigational therapy. The decision was made in response to recent reports related to additional events identified in a cohort of volunteers in a safety study involving the drug.

Smith Micro Software Inc. (Nasdaq: SMSI) 10% LOWER; J.P. Morgan downgrades Smith Micro Software from Overweight to Neutral.

Genentech Inc. (NYSE: DNA) 8% HIGHER; Granted FDA Accelerated Approval For Avastin in Breast Cancer

Electronic Arts (Nasdaq: ERTS) 4.3% LOWER; made an unsolicted offer to acquire the company for $26 per share. TTWO rejected the offer.

Freddie Mac (NYSE: FRE) 4% LOWER; Goldman cuts to Sell

Royal Bank of Scotland (NYSE: RBS) 4% HIGHER; Speculation Qatar Invesment Authority may buy a stake.

Fannie Mae (NYSE: FNM) 3.5% LOWER; Goldman cuts to Sell

Lowe's Companies Inc. (NYSE: LOW) 3% LOWER; reports Q4 EPS of $0.28, above the consensus of $0.25. Revenues came in at $10.38 billion, versus the consensus of $10.63 billion. Lowe's sees Q1 EPS of $0.38-$0.42, versus the consensus of $0.41. Lowe's sees FY EPS of $1.50-$1.58, versus the consensus of $1.76.

General Motors (NYSE: GM) 2.4% LOWER; Deutsche Bank downgrades General Motors (NYSE: GM) from Buy to Hold.

Citigroup Inc. (NYSE: C) 2% LOWER; Negative comments from Oppenheimer

The Brink's Company (NYSE: BCO) 2% HIGHER; said its board of directors has approved a strategic decision to spin-off its Brink's Home Security unit. one of the largest and most successful residential alarm companies in North America, into a separate publicly traded company.

Ambac (NYSE: ABK) 2% HIGHER; Reports from the Wall Street Journal, embattled bond insurer Ambac is close to a deal with a consortium of banks to restructure the company and raise $3 billion in capital.

Tri-S Security Corp. (Nasdaq: TRIS) INDICATED HIGHER; subsidiary Paragon Systems has been awarded a $220 MM contract from the US Social Security Administration.

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