Pre-Open Stock Movers 9/3: (NOK) (HALO) (TU) Higher; (CYTK) (STP) (MSFT) Lower (more...)

September 3, 2013 9:34 AM EDT
Nokia (NYSE: NOK) 39.7% HIGHER; Microsoft (NASDAQ: MSFT) acquires Nokia's Devices & Services business in a $7.2 billion deal.

Cytokinetics, Incorporated (NASDAQ: CYTK) 17.9% LOWER; Amgen (Nasdaq: AMGN) and Cytokinetics Incorporated (Nasdaq: CYTK) announced the first presentation of data from the ATOMIC-AHF (Acute Treatment with Omecamtiv Mecarbil to Increase Contractility in Acute Heart Failure) study at the ESC Congress 2013, organized by the European Society of Cardiology, in Amsterdam. ATOMIC-AHF was a randomized, double-blind, placebo-controlled Phase 2 study that enrolled 613 patients hospitalized with acute heart failure (AHF) treated for 48 hours with omecamtiv mecarbil or placebo and designed to evaluate the safety, pharmacokinetics, pharmacodynamics, and potential efficacy of an intravenous formulation of omecamtiv mecarbil in patients with AHF. The study did not meet its primary endpoint of dyspnea (shortness of breath) response as measured by the 7-point Likert scale through 48 hours (p=0.33) but showed favorable dose and concentration-related trends on dyspnea response.

Suntech Power Holdings Co., Ltd. (NYSE: STP) 10.7% LOWER; announced that following productive discussions with its key stakeholders earlier this week in China, an understanding has been reached with its Creditor Working Group led by Clearwater Capital Partners and Spinnaker Capital Limited for restructuring the Company.

Halozyme Therapeutics, Inc. (NASDAQ: HALO) 7.6% HIGHER; announced that the European Commission has granted Roche European Union (EU) marketing authorization for the use of a time-saving subcutaneous (SC) formulation of Herceptin® (trastuzumab) for the treatment of HER2-positive breast cancer. This formulation utilizes Halozyme's recombinant human hyaluronidase (rHuPH20) and is administered in two to five minutes, rather than 30 to 90 minutes with the standard intravenous form.

TELUS Corporation (NYSE: TU) 7.3% HIGHER; upgraded at BMO and RBC

Microsoft (NASDAQ: MSFT) 5.2% LOWER; acquires Nokia's Devices & Services business in a $7.2 billion deal

Neonode Inc., (Nasdaq: NEON) 5% HIGHER; announced that its Board of Directors has authorized the exploration of strategic alternatives with respect to its user-interface patent and licensing subsidiary.

Verizon Communications (NYSE: VZ) 4% LOWER; Verizon and Vodafone Group Plc (Nasdaq: VOD) reached a definitive agreement for Verizon to acquire Vodafone's 45 percent of Verizon Wireless for $130 billion, consisting primarily of cash and stock.

LeapFrog (NYSE: LF) 3.9% LOWER; BMO Capital downgraded LeapFrog from Outperform to Market Perform with a price target of $10.00 (from $15.00).

Owens-Illinois (NYSE: OI) 3% HIGHER; JPMorgan upgraded from Neutral to Overweight with a price target of $34.00 (from $32.00).

Pinnacle Entertainment Inc. (NYSE: PNK) 2.9% HIGHER; positive Barron's article.

Coca-Cola Enterprises (NYSE: CCE) 2.9% HIGHER; Goldman Sachs upgraded from Neutral to Conviction Buy with a price target of $47.00 (from $43.00), suggesting 25% upside.

Constellation Brands (NYSE: STZ) 1.9% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $65.00 (from $59.00).

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