Pre-Open Movers 7/21: Genentech (DNA) Higher on Bid for Roche; BofA (BAC) Up on Results

July 21, 2008 9:21 AM EDT

StreetInsider.com Pre-Open Movers:

ArthroCare Corporation (Nasdaq: ARTC) 18% LOWER; to Restate Financials for 2006-07; Current Data Can No Longer Be Relied Upon

Genentech (NYSE: DNA) 15.6% HIGHER; Roche (OTC: RHHBY) has proposed to acquire Genentech for US$89.00 per share in cash. Investors see a higher bid, driving the stock up to $94.60 this AM.

The Timken Company (NYSE: TKR) 12% HIGHER; sees Q2 EPS $0.96, ex-items, versus the company's previous estimate of $0.73 to $0.83 per share.

Bank of America (NYSE: BAC) 11% HIGHER; reports Q2 EPS of $0.72 versus the consensus of $0.53. Revenues came in at $20.32 billion, versus the consensus of $18.37 bilion.

Gibraltar Industries, Inc. (Nasdaq: ROCK) 6% HIGHER; Piper upgrades to Buy

American International Group, Inc. (NYSE: AIG) 4.7% HIGHER; BofA upgrades to Buy

KeyCorp (NYSE: KEY) 4% HIGHER; Baird upgrades to Outperform

Satyam Computer Services Ltd. (NYSE: SAY) 3% LOWER; Morgan Stanley downgrades Satyam to Equalweight

Yahoo! Inc. (Nasdaq: YHOO) 2.7% LOWER; reached an agreement with Carl Icahn to settle their pending proxy contest related to the Company's 2008 annual meeting of stockholders.

Biogen Idec Inc. (Nasdaq: BIIB) 2% HIGHER; Merrill upgrades to Buy

Stanley Works (NYSE: SWK) 1.5% LOWER; Deutsche Bank downgrades to Hold

TransAlta Corporation (NYSE: TAC) INDICATED HIGHER; received a non-binding letter from LS Power Equity Partners, an entity associated with Luminus Management LLC, and Global Infrastructure Partners regarding engaging in a dialogue about a possible acquisition of TransAlta for $39 per share in cash.

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AIG 36.75

-0.84 -2.23%
Volume: 28,801,597
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ARTC 19.50

+0.40 +2.09%
Volume: 52,589
Track ARTC

BAC 16.43

+0.40 +2.50%
Volume: 184,581,764
Track BAC

BIIB 46.43

+0.92 +2.02%
Volume: 3,894,275
Track BIIB

DNA 94.81

+0.00 +0.00%
Volume: 6,877,884
Track DNA

KEY 5.76

+0.07 +1.23%
Volume: 11,472,022
Track KEY

RHHBY 40.25

-0.19 -0.47%
Volume: 176,727
Track RHHBY

ROCK 14.10

+0.42 +3.07%
Volume: 141,569
Track ROCK

SAY 5.58

+0.08 +1.45%
Volume: 1,004,815
Track SAY

SWK 50.28

+0.11 +0.22%
Volume: 2,060,647
Track SWK

TAC 19.59

+0.11 +0.56%
Volume: 16,288
Track TAC

TKR 24.53

+0.09 +0.37%
Volume: 459,296
Track TKR

YHOO 16.09

+0.05 +0.31%
Volume: 16,350,878
Track YHOO


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