StreetInsider.com Pre-Open Movers 03/26
StreetInsider.com Pre-Open Movers:
Biosite Incorporated (Nasdaq: BSTE) 51.7% HIGHER; Beckman Coulter, Inc. (NYSE: BEC) and Biosite entered into a definitive merger agreement under which Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer of $85.00 per share, or approximately $1.55 billion on a fully diluted share basis.
Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) 48% HIGHER; announced positive initial results from its Phase IIa clinical trial of AZ-004 in schizophrenic patients with acute agitation. The 10 mg dose of AZ-004 met the primary endpoint of the clinical trial, which was a statistically-significant reduction in the measure of agitation from baseline to the 2-hour post-dose time point, compared to placebo. Alexza also announced today positive top-line results from its Phase IIb clinical trial of AZ-001 in patients with migraine headache, where AZ-001 met the primary endpoint of the Phase IIb clinical trial.
Osiris Therapeutics, Inc. (Nasdaq: OSIR) 28.5% HIGHER; announces positive six-month results in a groundbreaking clinical trial evaluating PROVACEL, an adult mesenchymal stem cell (MSC) therapy for the treatment of heart disease.
Progressive Gaming (Nasdaq: PGIC) 13.8% LOWER; to Report Potential Stock Trading Irregularities
ISIS Pharmaceuticals Inc. (Nasdaq: ISIS) 6% HIGHER; Reports Positive Phase 2 Data for ISIS 301012 in Familial Hypercholesterolemia Patients Presented at ACC
Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) 5.7% HIGHER; Reports That Interim Review of NEBIDO Phase III Data Indicates Trial Is Likely to Meet Primary Endpoints
Energy Partners Ltd. (NYSE: EPL) 5% HIGHER; Commences $23 Per Share Self-Tender Offer for 8,700,000 Company Shares (22% of Company's Shares
Alcatel-Lucent (NYSE: ALU) 5% HIGHER; Awarded $6 Billion Contract From Verizon Wireless (VZ)
Tribune Co. (NYSE: TRB) 4.75% HIGHER; Reports Zell's bid favored
JetBlue Airways Corp. (Nasdaq: JBLU) 4% HIGHER; UBS upgrades to Neutral.
Agere Systems (NYSE: AGR) 3.6% LOWER; now expects revenues in the quarter ending March, 2007 to be approximately 12 percent lower than the $372 million reported in the quarter ended December, 2006 (consensus is $368.95 million). The company does expect GAAP earnings per share to increase substantially versus the December, 2006 quarter, reflecting the sale of its facility in Orlando, Florida and continued strong expense control.
PDL BioPharma Inc. (Nasdaq: PDLI) 3.5% HIGHER; Prudential upgrades
Dell Inc. (Nasdaq: DELL) 2.8% HIGHER; Goldman Sachs upgrades to Buy
Schering-Plough (NYSE: SGP) 2% HIGHER; Schering-Plough and Merck & Co., Inc. (NYSE: MRK) announced an agreement to commence development of an ezetimibe and atorvastatin combination product.
Walgreen Co. (NYSE: WAG) 2% HIGHER; reports Q2 EPS of $0.65, 4 cents better than estimates. Revenues were $13.9 billion vs. $13.88 billion consensus.
Time Warner Inc. (NYSE: TWX) 1.3% HIGHER; Bear Stearns upgrades to Outperform
Tesoro Corp. (NYSE: TSO) 1.2% LOWER; Deutsche Bank and Bear Stearns downgrades
Novatel Wireless Inc. (Nasdaq: NVTL) INDICATED HIGHER; said revenues for the first quarter are expected to increase by over 150% year-over-year and by over 30% sequentially to above $100 million. The consensus is $80.7 million. Non-GAAP EPS, which excludes stock based compensation expense, is expected to be above $0.35 per diluted share. These expected results compare to previous guidance of revenues of $80 million and non-GAAP EPS of $0.16 per diluted share. The consensus is $0.10.
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