Pre-Open Movers 5/27: Chemtura (CEM) Up on Takeover Reports, Favrille (FVRL) Sinks After Drug Fails

May 27, 2008 9:16 AM EDT

StreetInsider.com Pre-Open Movers:

Favrille, Inc. (Nasdaq: FVRL) 78% LOWER; announced results from the Company's Phase 3 registration trial of Specifid following Rituxan in patients with follicular B-cell non-Hodgkin's lymphoma. Analysis of time to progression, the primary endpoint in the trial, failed to show a statistically significant improvement in the treatment arm, Specifid plus Leukine following Rituxan, compared to the control arm, placebo plus Leukine following Rituxan. Analysis of all subgroups also did not show any significant differences in primary or secondary endpoints when adjusted for prognostic factors.

Standard Pacific Corp. (NYSE: SPF) 23.8% HIGHER; has entered into a definitive agreement with MatlinPatterson Global Advisers LLC, on behalf of its affiliated funds, under which MatlinPatterson is committed to invest in aggregate more than $530 million in equity in Standard Pacific.

Flotek Industries, Inc. (NYSE: FTK) 15% LOWER; revised earnings guidance to $1.12 to $1.22 per fully diluted share, as compared to prior guidance of $1.50 to $1.60 per fully diluted share, and the consensus of $1.24.

Chemtura Corporation (NYSE: CEM) 15% HIGHER Reports from the Financial Times, private equity firms Blackstone Group and Apollo Management are in talks to acquire the chemical maker.

UBS AG (NYSE: UBS) 7% LOWER; said it may face more loses from its mortgage holdings

Ascent Solar Technologies (Nasdaq: ASTI) 5.6% HIGHER; Cowen & Co. starts at Outperform.

Infineon Technologies AG (NYSE: IFX) 5% LOWER; CEO Resigns

LCA Vision (Nasdaq: LCAV) 4% HIGHER; RBC upgrades from Underperform to Sector Perform

Marvel Tech (Nasdaq: MRVL) 3.3% LOWER; Goldman downgrades to Neutral

Newfield Exploration Co. (NYSE: NFX) 2.6% HIGHER; KeyBanc upgrades to Buy

Suntech Power Holdings Co. Ltd. (NYSE: STP) 2.4% HIGHER; acquired a minority stake in Shunda Holdings Co. Ltd, a manufacturer of solar wafers based in China, from Actis, a leading private equity investor in emerging markets, and Waichun Investment Fund, for a total consideration of $98.9 million.

AGCO Corp. (NYSE: AG) 2% HIGHER; CS upgrades to Outperform

FMC Technologies (NYSE: FTI) 1.5% LOWER; Negative Barron's article.

Pediatrix Medical Group, Inc., (NYSE: PDX) INDICATED LOWER; is revising its earnings guidance for the three months ended June 30, 2008, and for the full year based on lower neonatal intensive care unit patient volume. Pediatrix now expects to earn 77 cents to 80 cents for the 2008 second quarter if NICU patient volume remains at current levels for the rest of the period, versus the consensus of $0.84. In addition, at this time Pediatrix does not expect to meet its previously issued earnings guidance for the 12 months ended December 31, 2008, as a result of lower NICU patient volume during 2008 to date.

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