Pre-Open Stock Movers 9/9: (MOLX) (UNIS) (ISIS) Higher; (BIOD) (HSOL) (SCTY) Lower (more...)

September 9, 2013 9:36 AM EDT
Molex, Inc. (NASDAQ: MOLX) 31.22% HIGHER; entered into a definitive agreement to be acquired by Koch Industries, Inc., one of the worlds largest and most successful private companies. Under the terms of the agreement, Koch Industries will acquire all of Molexs outstanding shares, including the Common Stock (MOLX), the Class A Common Stock (MOLXA) and the Class B Common Stock, for $38.50 per share in cash, for a total equity value of approximately $7.2 billion. Based on the closing stock prices on September 6, 2013, the purchase price represents a 42% premium to the equity value of Molexs publicly-traded stock, specifically a 31% premium to the Common Stock and a 56% premium to the Class A Common Stock.

Unilife (Nasdaq: UNIS) 21.1% HIGHER; announced the signing of a long-term supply contract with Sanofi (NYSE: SNY). Unilife has agreed to supply Sanofi with the Unifill Finesse™, a customized device from its Unifill® platform of prefilled syringes with automatic, needle retraction, for use with the anti-thrombotic therapy Enoxaparin Sodium sold under the brand names Lovenox® and Clexane® ("Lovenox"). The contract period can extend up to 2024.

Biodel Inc. (Nasdaq: BIOD) 12.7% LOWER; announced preliminary results from Study 3-201, a Phase 2 clinical study of BIOD-123, an investigational ultra-rapid-acting mealtime insulin, in patients with type 1 diabetes. BIOD-123 achieved the primary endpoint of non-inferiority for HbA1c relative to insulin lispro, a widely prescribed rapid acting mealtime insulin analog marketed as Humalog®.

Inovio Pharmaceuticals, Inc. (NYSE: INO) 11% HIGHER; takeover speculation.

Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) 8.8% HIGHER; Biogen Idec (Nasdaq: BIIB) and Isis Pharmaceuticals, Inc. announced that the companies have entered into a broad, multi-year collaboration to leverage antisense technology to advance the treatment of neurological diseases. The agreement combines Biogen Idec's expertise in neurology with Isis' leadership in antisense technology to develop novel therapies to treat neurological disorders. This is the fourth collaboration between the two companies in the last two years.

Hanwha SolarOne (NASDAQ: HSOL) 7.1% LOWER; reported Q2 EPS of (RMB0.39), versus (RMB0.63) reported last year. Revenue for the quarter came in at RMB1.18 billion, versus RMB1.07 billion reported last year.

Delta Air Lines (NYSE: DAL) 5.1% HIGHER; will replace BMC Software (NASD: BMC) in the S&P 500 after the close of trading on Tuesday, September 10. BMC Software is being acquired by Bain Capital.

Quiksilver (NYSE: ZQK) 4.2% HIGHER; Credit Suisse upgraded from Neutral to Outperform.

Potash Corp. (NYSE: POT) 3.8% HIGHER; Kerimov may exit its stake in Uralkali

Brocade (NASDAQ: BRCD) 3.2% HIGHER; RBC Capital upgraded from Sector Perform to Outperform with a price target of $10.00 (from $7.00).

BlackBerry Limited (NASDAQ: BBRY) 2.4% HIGHER; the U.K.'s Sunday Times reports that Prem Watsa, one of Canada's most successful investors and a big investor of BlackBerry, has "assembled billions in backing from the country's biggest pension funds for a bid."

M.D.C. Holdings (NYSE: MDC) 2.4% HIGHER; Citi upgraded from Sell to Neutral.

SolarCity (Nasdaq: SCTY) 1.9% LOWER; filed a registration with the U.S. SEC to sell, from time to time, up to 3,674,565 shares of its common stock on behalf of a selling shareholder. The company will not receive proceeds from the secondary offering.

Lululemon Athletica Inc. (NASDAQ: LULU) 1.6% HIGHER; Citi initiates coverage with a Buy. PT $90.00.

Tesla Motors, Inc. (NASDAQ: TSLA) 1.6% LOWER; sees profit taking

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