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StreetInsider.com Pre-Open Movers 11/12: (TIE) (JEF) (GILD) Higher; (CLVS) (STSI) (GRMN) Lower (more...)

November 12, 2012 9:35 AM EST Send to a Friend
Titanium Metals Corporation (NYSE: TIE) 43% HIGHER; entered into a definitive merger agreement under which Precision Castparts Corp. (PCC) (NYSE: PCP), has agreed to acquire all of the common stock of TIMET for $16.50 per share in cash. The total equity value of the transaction is approximately $2.9 billion.

Clovis Oncology, Inc. (Nasdaq: CLVS) 41% LOWER; announced the results from its LEAP (Low hENT1 and Adenocarcinoma of the Pancreas) study of CO-101 versus gemcitabine in metastatic pancreatic cancer. There was no difference in overall survival between the two arms in either the primary analysis of the hENT1-low patient population, or in the overall intent-to-treat population. Median survival in each arm was approximately six months with a hazard ratio of 0.99, and is entirely consistent with the survival results from other gemcitabine studies in metastatic pancreatic cancer. Toxicities were comparable between the two arms, and no differences were observed in any subgroup analyses. Key prognostic variables, including performance status and age, were balanced between the hENT1-low and -high groups.

Jefferies Group, Inc. (NYSE: JEF) 22% HIGHER; Leucadia National Corporation (NYSE: LUK) to acquire the company. Jefferies shareholders will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold.

Star Scientific, Inc. (NASDAQ: STSI) 21% LOWER; Q3 results, no additional cash from Reynolds settlement

Crexus Investment Corp. (NYSE: CXS) 14% HIGHER; Annaly Capital Management, Inc. (NYSE: NLY) has proposed to acquire for $12.50 per share in cash all of the shares of CreXus that Annaly does not currently own.

Gilead Sciences Inc. (NASDAQ: GILD) 10% HIGHER; positive data from the '7977/'5885 combo in treatment-naïve genotype 1 Hepatitis C patients, showing 100 percent (n=25/25) remained HCV RNA undetectable four weeks after completing therapy (SVR4).

Celgene Corporation (NASDAQ: CELG) 10% HIGHER; announced that its phase III study of ABRAXANE® (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in combination with gemcitabine in treatment-naïve patients with advanced pancreatic cancer met its primary endpoint of overall survival. In the study, ABRAXANE in combination with gemcitabine demonstrated a statistically significant improvement in overall survival compared to patients receiving gemcitabine alone.

Sequenom (NASDAQ: SQNM) 6% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $7.00

Research In Motion (RIM) (Nasdaq: RIMM) 6% HIGHER; will hold its BlackBerry(R) 10 launch event on January 30th, 2013. The event will happen simultaneously in multiple countries around the world. This day will mark the official launch of its new platform - BlackBerry 10, as well as the unveiling of the first two BlackBerry 10 smartphones. Details on the smartphones and their availability will be announced at the event.

Dendreon (NASDAQ: DNDN) 5% HIGHER; Needham & Company initiates coverage with a Buy. PT $7.00

Tesaro, Inc. (NASDAQ: TSRO) 4% HIGHER; Jim Cramer mention

J. C. Penney Company, Inc. (NYSE: JCP) 4% LOWER; Dowgraded at Credit Suisse

TripAdvisor (NASDAQ: TRIP) 3% HIGHER; Morgan Stanley upgraded from Underweight to Overweight.

D.R. Horton, Inc. (NYSE: DHI) 3% HIGHER; reported Q4 EPS of $0.30, $0.02 better than the analyst estimate of $0.28. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.35 billion.

Walt Disney (NYSE: DIS) 1% HIGHER; Citi upgraded from Neutral to Buy

Garmin Ltd. (NASDAQ: GRMN) 2% LOWER; Goldman Sachs downgrade




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