Pre-Open Movers 3/18: Goldman Sachs (GS), Lehman Bros (LEH) Higher After Upside Earnings

March 18, 2008 9:22 AM EDT

StreetInsider.com Pre-Open Movers:

Dynavax Technologies Corporation (Nasdaq: DVAX) 50% LOWER; The company and Merck & Co., Inc. announced today that FDA has placed a clinical hold on the two Investigational New Drug (IND) applications for HEPLISAV, an investigational hepatitis B vaccine being jointly developed for use in adults by Dynavax and Merck.

Nuvelo, Inc. (Nasdaq: NUVO) 47% LOWER; announced that data from the Phase 2 program in catheter occlusion, known as SONOMA-3, did not show sufficient improvement in catheter opening at the higher dose and concentration evaluated in the study to meet the desired target product profile. As a result, Nuvelo has ended further clinical development of alfimeprase including its programs in CO and acute ischemic stroke.

Thornburg Mortgage Inc. (NYSE: TMA) 39% HIGHER; Filex mixed securities shelf

MF Global Ltd (NYSE: MF) 35% HIGHER; bounces after losing 65% yesterday on fears clients were pulling money. The company said clients continue to show strong support, and counterparty relationships are sound.

National City Corporation (NYSE: NCC) 18% HIGHER; bounces after losing 43% yesterday as takeover of the company seems unlikey. KBW upgrades to Market perform

FCStone Group, Inc. (Nasdaq: FCSX) 17% HIGHER; said it has no direct exposure to the sub-prime mortgage-backed securities or auction rate securities that are driving the current market environment, nor does the Company use third party repo lines to provide liquidity to its regulated entity, FCStone, LLC. FCStone continues to trade with all of its counterparties.

Excel Maritime Carriers Ltd. (NYSE: EXM) 13% HIGHER; reports Q4 EPS of $1.71, 26 cents better than the analyst estimate of $1.45. Revenues for the quarter were $60.9 million, versus the consensus of $55.19 million.

Lehman Brothers Holdings Inc. (NYSE: LEH) 12.7% HIGHER; Reported Q1 EPS of $0.81, above the consensus of $0.72. Revenues came in at $3.5 billion, versus the consensus of $3.35 billion. LEH sank 19% yesterday on fears after the collapse of Bear Stearns.

Immunomedics, Inc., (Nasdaq: IMMU) 9.7% HIGHER; announced that the FDA has granted orphan drug designation to milatuzumab for the treatment of multiple myeloma.

VimpelCom (NYSE: VIP) 6% HIGHER; Citi upgrades VimpelCom from Sell to Hold. Price target $32.

Goldman Sachs Group Inc. (NYSE: GS) 6% HIGHER; reports Q1 EPS fo $3.23, versus the consensus of $2.58. Revenues came in at $8.34 billion, versus the consensus of $7.47 billion.

Shire plc (Nasdaq: SHPGY) 6% HIGHER; UBS suggested AstraZeneca plc (AZN) may be interested in a buyout of the company. UBS said AZN could buy Shire at a more than 40% premium and make the acquisition accretive.

Shuffle Master (Nasdaq: SHFL) 4% LOWER; reports a Q4 loss of $0.01, ex-items, 9 cents lower than the analyst estimate of $0.08. Revenues for the quarter were $37.9 million, versus the consensus of $44.97 million.

NYSE Euronext (NYSE: NYX) 4% HIGHER; announced that its board of directors has authorized the repurchase of up to $1 billion of NYSE Euronext's common stock. The Board of NYSE Euronext also approved a 20% increase in its annual dividend to $1.20 from $1.00 per common share.

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[LJ]

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