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 1.84

-0.17 -8.46%
Volume: 52,797,581
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ARTC 14.13

-0.39 -2.69%
Volume: 166,215
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BAC 14.34

-0.71 -4.72%
Volume: 107,580,197
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BIIB 41.70

-0.42 -1.00%
Volume: 3,181,882
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DNA 73.65

-1.75 -2.32%
Volume: 2,636,560
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KEY 8.01

-0.17 -2.08%
Volume: 8,337,610
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RHHBY 67.91

-2.01 -2.87%
Volume: 162,210
Track RHHBY

ROCK 12.25

-0.24 -1.92%
Volume: 617,721
Track ROCK

SAY 11.76

-0.88 -6.96%
Volume: 595,398
Track SAY

SWK 30.59

-0.29 -0.94%
Volume: 780,725
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TAC 16.82

-0.36 -2.10%
Volume: 39,683
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TKR 13.48

-0.47 -3.37%
Volume: 620,172
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YHOO 11.05

-0.45 -3.91%
Volume: 18,453,189
Track YHOO


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