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 4.53

-0.14 -3.00%
Volume: 2,666,520
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AAPL 202.98

+1.52 +0.75%
Volume: 14,326,305
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ALK 28.52

+0.33 +1.17%
Volume: 593,228
Track ALK

AMAG 43.32

-0.49 -1.12%
Volume: 478,133
Track AMAG

AMR 5.59

-0.19 -3.29%
Volume: 16,531,684
Track AMR

CAL 12.85

-0.22 -1.68%
Volume: 6,687,419
Track CAL

CHK 25.34

+0.08 +0.32%
Volume: 9,935,634
Track CHK

DAL 7.73

-0.16 -2.03%
Volume: 6,528,546
Track DAL

EGLT 15.55

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

ISH 35.18

+0.27 +0.77%
Volume: 45,410
Track ISH

LCC 3.06

-0.14 -4.38%
Volume: 6,740,338
Track LCC

LEH 0.13

+0.00 +0.00%
Volume: 0
Track LEH

LUV 8.95

-0.11 -1.21%
Volume: 6,552,848
Track LUV

NWA 9.90

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

PALM 10.99

-0.05 -0.45%
Volume: 8,353,651
Track PALM

PCLN 204.22

+30.49 +17.55%
Volume: 9,217,373
Track PCLN

SCRX 31.01

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

TER 8.52

+0.00 +0.00%
Volume: 4,328,254
Track TER

UAUA 6.70

-0.30 -4.29%
Volume: 8,623,738
Track UAUA


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