Pre-Open Movers 9/2: Sciele Pharma (SCRX) Higher On Buyout; Airlines (DAL, AMR, LCC, etc.) Up On Drop in Crude

September 2, 2008 9:26 AM EDT

StreetInsider.com Pre-Open Movers:

Sciele Pharma, Inc. (NASDAQ: SCRX) 58% HIGHER; entered into a definitive agreement to be acquied by Shionogi & Co., Ltd. at a price of $31 per share, for a total equity purchase price of approximately $1.1 billion.

Delta Air Lines (NYSE: DAL) 14% HIGHER; Airlines are higher on today's $7 drop in Crude after Hurricane Gustav was much less severe than expected. Other airlines: Northwest Airlines (NYSE: NWA), UAL Corp (NYSE: UAUA), AMR (NYSE: AMR), AirTran Holdings (NYSE: AAI), Continental Airlines (NYSE: CAL), Southwest Airlines (NYSE: LUV), Alaska Air (NYSE: ALK), US Airways Group, Inc. (NYSE: LCC).

Lehman Brothers (NYSE: LEH) 7% HIGHER; Korea Development Bank confirmed it is in talks to invest in Lehman Brothers, following weeks of speculation.

Eagle Test Systems, Inc. (NASDAQ: EGLT) 6% HIGHER; Teradyne, Inc. (NYSE: TER) signed a definitive agreement to acquire Eagle Test Systems, Inc. for $15.65 per share in cash. Shares of Eagle Test Systems closed at $14.18/share on Friday.

Palm (Nasdaq: PALM) 5% HIGHER; Cowen & Co. initiates coverage on Palm with an Outperform rating.

Priceline.com (Nasdaq: PCLN) 3.5% HIGHER; Credit Suisse Upgrades Priceline.com from Neutral to Outperform.

Chesapeake Energy Corp. (NYSE: CHK) 3% LOWER; Big drop in Natural Gas after Hurricane Gustav was much less severe than expected.

AMAG Pharmaceuticals (Nasdaq: AMAG) 3% HIGHER; Needham & Co. initiates coverage on AMAG Pharmaceuticals with a Buy. Price target $80.

Apple (Nasdaq: AAPL) 1.5% HIGHER; Piper Jaffray Adds Apple to Alpha List; Reiterates Buy

International Shipholding Corporation (NYSE: ISH) INDICATED HIGHER; Liberty Shipping Group LLC sent a letter to the International Shipholding Corporation Board of Directors proposing to acquire all of the outstanding shares of International Shipholding common stock for $25.75 per share in cash.


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AAI 4.15

-0.01 -0.24%
Volume: 2,414,803
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AAPL 200.59

-3.60 -1.76%
Volume: 10,544,892
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ALK 29.44

-0.04 -0.14%
Volume: 178,050
Track ALK

AMAG 37.80

-0.59 -1.54%
Volume: 248,304
Track AMAG

AMR 5.81

+0.01 +0.17%
Volume: 5,616,828
Track AMR

CAL 13.59

+0.14 +1.04%
Volume: 3,524,075
Track CAL

CHK 24.17

-0.69 -2.78%
Volume: 10,631,097
Track CHK

DAL 7.91

+0.02 +0.25%
Volume: 3,149,191
Track DAL

EGLT 15.55

+0.00 +0.00%
Volume: 334,161
Track EGLT

ISH 34.64

-0.96 -2.70%
Volume: 26,380
Track ISH

LCC 3.47

-0.06 -1.70%
Volume: 3,757,901
Track LCC

LEH 0.13

+0.00 +0.00%
Volume: 0
Track LEH

LUV 8.99

-0.11 -1.21%
Volume: 3,684,152
Track LUV

NWA 9.90

+0.00 +0.00%
Volume: 15,676,884
Track NWA

PALM 11.00

-0.24 -2.14%
Volume: 4,225,105
Track PALM

PCLN 208.21

-4.69 -2.20%
Volume: 488,335
Track PCLN

SCRX 31.01

+0.00 +0.00%
Volume: 1,079,026
Track SCRX

TER 8.83

-0.13 -1.45%
Volume: 1,310,985
Track TER

UAUA 7.25

-0.08 -1.09%
Volume: 3,669,523
Track UAUA


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