StreetInsider.com Pre-Open Movers 02/12

February 12, 2007 9:28 AM EST

StreetInsider.com Pre-Open Movers

Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) 61% HIGHER; Bayer Pharmaceuticals Corporation (NYSE: BAY) and Onyx Pharmaceuticals announced that an independent data monitoring committee (DMC) has reviewed the safety and efficacy data from the companies' pivotal Phase 3 trial in patients with advanced hepatocellular carcinoma (HCC), or primary liver cancer. Based on this planned interim analysis, the DMC has concluded that the trial met its primary endpoint resulting in superior overall survival (OS) in those patients receiving Nexavar tablets versus those patients receiving placebo. The DMC also noted that there was no demonstrated difference in serious adverse event rates between the two treatment arms (Nexavar and placebo). Based on these conclusions, the DMC recommended that the trial be stopped early.

Adeza (NASDAQ: ADZA) 52.8% HIGHER; signed a definitive agreement to be acquired by Cytyc Corporation (NASDAQ: CYTC) for $24 per share, which is a purchase price of approximately $450 million.

Digital Music Group, Inc. (Nasdaq: DMGI) 46% HIGHER; entered into an agreement with YouTube, Inc. to make certain components of DMGI's video catalog, which includes some of the world's most beloved television and film properties, available to the YouTube community. Additionally, DMGI has agreed to allow certain music, where DMGI owns or controls the music publishing rights, to be in user-generated videos which are uploaded to YouTube.

Witness Systems, Inc. (NASDAQ: WITS) 20.8% HIGHER; Verint Systems Inc. (OTC: VRNT) and Witness Systems, Inc. entered into a definitive agreement under which Verint will acquire Witness for $27.50 per share in cash.

LCA Vision (Nasdaq: LCAV) 16% HIGHER; reports Q4 earnings of $0.34 per share, 9 cents better than estimates. Revenues came in at $58.8 million versus the consensus of $58.4 million. Sees FY07 EPS of $2.05-$2.15 versus the consensus of $1.99.

Hydril Company (NASDAQ: HYDL) 15% HIGHER; Tenaris S.A. (NYSE: TS) and Hydril Company have entered into a definitive merger agreement pursuant to which Tenaris will acquire Hydril for US$97 per share of Hydril's common stock and US$97 per share of Hydril's Class B common stock, payable in cash.

China BAK Battery, Inc. (NASDAQ: CBAK) 15% LOWER; reports Q1 results

Novelis Inc. (NYSE: NVL) 14% HIGHER; Hindalco Industries Limited, India's largest non-ferrous metals company, and Novelis entered into a definitive agreement for Hindalco to acquire Novelis in an all-cash transaction which values Novelis at approximately $6.0 billion, including approximately $2.4 billion of debt. Under the terms of the agreement, Novelis shareholders will receive $44.93 in cash for each outstanding common share.

Lamson & Sessions (NYSE: LMS) 10% HIGHER; Board of Directors has authorized the Company's management and financial advisors to explore a range of strategic and financial alternatives to enhance shareholder value. These alternatives include, but are not limited to, a sale of certain assets or the entire Company, formation of joint ventures, a change to the Company's capital structure, and continued implementation of Lamson & Sessions' current strategic business plan.

Ctrip.com International Ltd. (Nasdaq: CTRP) 7% LOWER; reports Q4 earnings of $0.26 per share, and $0.31 ex-items, versus the consensus of $0.26. Revenues came in at $31 million versus the consensus of $28.5 million. For the full year 2007, Ctrip expects to continue the year-on-year net revenue growth at a rate of approximately 30%. Before share-based compensation charges, the company expects operating margin to be approximately 35%.

SimpleTech, Inc., (Nasdaq: STEC) 6% HIGHER' completed the sale of assets of its Consumer Division, including the name ``SimpleTech,'' for approximately $43.0 million and the assumption of approximately $13.6 million in liabilities or approximately $10 million more than net working capital. Changes name to STEC.

Landec Corp. (Nasdaq: LNDC) 4% HIGHER; Cramer highlights on Mad Money

Hansen Natural Corporation (NASDAQ: HANS) 4% HIGHER; entered into an agreement with PepsiCo Canada by which PepsiCo Canada will be appointed the exclusive master distributor of Monster Energy, Lost Energy, Joker Mad Energy and Hansen's energy products throughout Canada.

Bristol-Myers Squibb Co. (NYSE: BMY) 3.7% LOWER; reports from the Times of London Sanofi-Aventis SA (NYSE: SNY) ended talks to acquire Bristol-Myers Squibb (NYSE: BMY). The report said the two disagreed over price and legal disputes surrounding Sanofi's top-selling drug Plavix.

Southwest Airlines Co. (NYSE: LUV) 3% HIGHER; Bear Stearns upgrades Southwest Airlines from Peer Perform to Outperform.

New Century Financial Corp. (NYSE: NEW) 3% LOWER; continues recent sell-of.

The Home Depot (NYSE: HD) 2% HIGHER; announced that the Company and its board of directors have decided to evaluate strategic alternatives for its HD Supply business, including a possible sale, spin or initial public offering of the business.

Apple, Inc. (NASDAQ: AAPL) 1.4% HIGHER; Citigroup upgrades to Buy

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