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 25.08

+7.00 +38.72%
Volume: 438,629
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ARTC 11.40

+0.41 +3.73%
Volume: 105,902
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BAC 27.40

+14.35 +109.96%
Volume: 446,353
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BIIB 45.00

-1.77 -3.78%
Volume: 5,113,072
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DNA 94.81

+0.00 +0.00%
Volume: 6,877,884
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KEY 5.12

-0.04 -0.78%
Volume: 30,278,507
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RHHBY 34.04

-0.79 -2.27%
Volume: 299,484
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ROCK 6.53

-0.69 -9.56%
Volume: 149,158
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SAY 28.73

+25.48 +784.00%
Volume: 455,336
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SWK 28.72

-4.98 -14.78%
Volume: 434,625
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TAC 26.33

+6.81 +34.89%
Volume: 442,840
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TKR 29.96

+12.50 +71.59%
Volume: 437,714
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YHOO 14.99

-0.42 -2.73%
Volume: 16,920,572
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