StreetInsider.com Pre-Open Movers 11/13
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StreetInsider.com Pre-Open Movers:
Solexa, Inc. (NASDAQ: SLXA) 36% HIGHER; Illumina, Inc. (NASDAQ: ILMN) and Solexa, Inc. entered into a definitive merger agreement under which Illumina will acquire Solexa in a stock-for-stock merger. Under the merger agreement, which was unanimously approved by the Boards of Directors of both companies, Solexa's stockholders will receive, subject to certain "collar"provisions, shares of Illumina common stock valued at $14.00 per Solexa share, which represents a total equity consideration of approximately $600 million.
Favrille (Nasdaq: FVRL) 34% LOWER; said prospectively planned interim analysis did not demonstrate a statistically significant difference
ISIS Pharmaceuticals Inc. (NASDAQ: ISIS) 29% HIGHER; said atients who received 300 mg/week of ISIS 301012 in this study achieved a 51% reduction in LDL-cholesterol (LDL-C), a 42% reduction in total cholesterol (TC), and a 41% reduction in triglycerides (TG) beyond the levels achieved with statins alone.
Microvision Inc. (NASDAQ: MVIS) 11% LOWER; Prices $7.9 Million Public Offering of Common Stock
eFuture Information Technology (Nasdaq: EFUT) 10% HIGHER; continued momentum following recent Nasdaq debut. eFuture is a leading provider of integrated software and professional services in China's supply chain front market.
Illumina Inc. (Nasdaq: ILMN) 8% LOWER; agrees to buy Solexa in stock deal
EarthLink Inc. (Nasdaq: ELNK) 5% LOWER; Announces Proposal to Offer $225 Million Convertible Senior Notes
RF Micro Devices Inc. (Nasdaq: RFMD) 4% HIGHER; CIBC upgrades RF Micro Devices (RFMD) to Sector Outperformer
Hansen Natural Corp. (Nasdaq: HANS) 2.5% HIGHER; Canaccord Adams upgrades Hansen Natural (HANS) to Buy
SanDisk (Nasdaq: SNDK) 2% LOWER; UBS downgrades SanDisk From Buy to Neutral and lowers their price target to $55, citing likely oversupply in flash memory chips.
Solexa, Inc. (NASDAQ: SLXA) 36% HIGHER; Illumina, Inc. (NASDAQ: ILMN) and Solexa, Inc. entered into a definitive merger agreement under which Illumina will acquire Solexa in a stock-for-stock merger. Under the merger agreement, which was unanimously approved by the Boards of Directors of both companies, Solexa's stockholders will receive, subject to certain "collar"provisions, shares of Illumina common stock valued at $14.00 per Solexa share, which represents a total equity consideration of approximately $600 million.
Favrille (Nasdaq: FVRL) 34% LOWER; said prospectively planned interim analysis did not demonstrate a statistically significant difference
ISIS Pharmaceuticals Inc. (NASDAQ: ISIS) 29% HIGHER; said atients who received 300 mg/week of ISIS 301012 in this study achieved a 51% reduction in LDL-cholesterol (LDL-C), a 42% reduction in total cholesterol (TC), and a 41% reduction in triglycerides (TG) beyond the levels achieved with statins alone.
Microvision Inc. (NASDAQ: MVIS) 11% LOWER; Prices $7.9 Million Public Offering of Common Stock
eFuture Information Technology (Nasdaq: EFUT) 10% HIGHER; continued momentum following recent Nasdaq debut. eFuture is a leading provider of integrated software and professional services in China's supply chain front market.
Illumina Inc. (Nasdaq: ILMN) 8% LOWER; agrees to buy Solexa in stock deal
EarthLink Inc. (Nasdaq: ELNK) 5% LOWER; Announces Proposal to Offer $225 Million Convertible Senior Notes
RF Micro Devices Inc. (Nasdaq: RFMD) 4% HIGHER; CIBC upgrades RF Micro Devices (RFMD) to Sector Outperformer
Hansen Natural Corp. (Nasdaq: HANS) 2.5% HIGHER; Canaccord Adams upgrades Hansen Natural (HANS) to Buy
SanDisk (Nasdaq: SNDK) 2% LOWER; UBS downgrades SanDisk From Buy to Neutral and lowers their price target to $55, citing likely oversupply in flash memory chips.
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