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 29.83

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Volume: 443,953
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AAPL 140.02

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Volume: 13,236,264
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ALK 26.31

+7.61 +40.70%
Volume: 446,390
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AMAG 52.81

-3.10 -5.54%
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AMR 25.06

+20.92 +505.31%
Volume: 431,999
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CAL 26.28

+17.06 +185.03%
Volume: 443,112
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CHK 28.75

+9.08 +46.16%
Volume: 447,081
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DAL 27.57

+21.72 +371.28%
Volume: 445,225
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EGLT 15.55

+0.00 +0.00%
Volume: 334,161
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ISH 26.40

+0.26 +0.99%
Volume: 36,516
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LCC 2.46

+0.05 +2.07%
Volume: 3,808,116
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LEH 0.13

+0.00 +0.00%
Volume: 0
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LUV 6.50

-0.30 -4.41%
Volume: 11,102,344
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NWA 9.90

+0.00 +0.00%
Volume: 15,676,884
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PALM 15.75

-0.59 -3.61%
Volume: 10,849,958
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PCLN 110.07

-2.55 -2.26%
Volume: 558,537
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SCRX 31.01

+0.00 +0.00%
Volume: 1,079,026
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TER 25.12

+18.09 +257.33%
Volume: 436,711
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UAUA 3.31

+0.02 +0.61%
Volume: 5,053,672
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