Pre-Market Movers 04/04: (ALU) (PSDV) (NAVB) Higher; (MACK) (CPWR) (LSE) Lower

April 4, 2013 9:36 AM EDT
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Alcatel-Lucent (NYSE: ALU) up 11.7%; Deutsche Bank upgraded from Hold to Buy, moving its price target from €1.00 to €1.80. Click here for more color.

pSivida Corp. (Nasdaq: PSDV) up 10.6%; announced that it has signed a funded technology evaluation agreement with a leading global pharmaceutical company. The agreement will evaluate pSivida’s proprietary Durasert™ and Tethadur™ technologies for this pharmaceutical company’s select products in ophthalmology. The Durasert technology system delivers specific quantities of drugs directly to a target site in the body at controlled rates for predetermined periods of time ranging from weeks to months. Tethadur is pSivida’s proprietary technology for the delivery of proteins, peptides and antibodies.

Navidea Biopharmaceuticals, Inc. (AMEX: NAVB) up 9.0%; reported Lymphoseek met primary endpoint in NEO3-06.

Merrimack Pharmaceuticals, Inc. (Nasdaq: MACK) down 7.4%; reports that one cohort of a Phase 2 non-small cell lung cancer (NSCLC) study did not meet its primary endpoint.

ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) up 4.4%; sees Iclusig EU approval in Q313.

ING Groep NV (NYSE: ING) up 4.9%; BNP Paribas upgraded from Neutral to Outperform.

Allot Communications Ltd. (Nasdaq: ALLT) up 4.1%; announced that it has secured a $6.5 million order from a Tier-1 mobile operator in EMEA for Intelligent Steering and Value-Added Service (VAS) Licenses. The order is a licensing expansion of an existing Allot Service Gateway deployment.

Universal Display (Nasdaq: PANL) up 3.9%; Needham & Company upgraded from Hold to Buy with a price target of $35.00.

Compuware Corporation (Nasdaq: CPWR) down 3.9%; announced preliminary financial results for its fourth quarter ended March 31, 2013. Preliminary results indicate that Compuware’s non-GAAP earnings per share will be between $.05 and $.06 for the quarter and $.26 and $.28 for the year, before charges for advisory fees, restructuring and any potential write-down of intangible assets. Total revenue is anticipated to be in the range of $237 million to $241 million for the quarter and $942 million to $946 million for the year. The Street sees Q412 EPS of $0.15 and revs of $272.8 million. FY12 EPS expected to be $0.36 with revs of $977.5 million.

CapLease, Inc. (NYSE: LSE) down 3.7%; announced today that it has priced its previously announced common stock offering. The offering was priced at $5.97 per share and consisted of 7,500,000 shares of common stock. The offering was increased by 1,000,000 shares from the originally announced offering of 6,500,000 shares. CapLease has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock to cover over-allotments, if any. CapLease expects the offering to close on April 9, 2013, subject to customary closing conditions.

Sequenom (Nasdaq: SQNM) up 3.4%; Wedbush upgraded from Neutral to Outperform with a price target of $5.

Finisar (Nasdaq: FNSR) up 3.1%; Lazard Capital upgraded from Neutral to Buy.

Sarepta Therapeutic (Nasdaq: SRPT) up 3.1%; Baird initiates coverage with an Outperform and $63 target.

Panera Bread (Nasdaq: PNRA) up 2.5%; Goldman Sachs upgraded from Neutral to Conviction Buy with a price target of $215.00 (from $185.00).

Vringo, Inc. (AMEX: VRNG) down 2.4%; still lower after updating on post-trial motions in recent litigation with Google, IAC/InterActive, and others. click here for more color..

BGC Partners, Inc. (BGCP) down 2.2%; still reeling from pop on Nasdaq (Nasdaq: NDAQ) eSpeed deal.

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