StreetInsider.com Pre-Open Movers 01/03
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StreetInsider.com Pre-Open Movers:
China Precision Steel (Nasdaq: CPSL) 46% HIGHER; continued momentum following reverse merger with OraLabs Holding Corp. (Nasdaq: OLAB).
Cytokinetics Inc. (Nasdaq: CYTK) 33% HIGHER; the comapny and Amgen (NASDAQ: AMGN) announced a strategic collaboration to discover, develop and commercialize novel small-molecule therapeutics that activate cardiac muscle contractility for potential applications in the treatment of heart failure. The company receives a non-refundable up-front license and technology access fee of $42 million. Amgen purchased 3,484,806 shares of Cytokinetics common stock at $9.47. In addition, Cytokinetics may be eligible to receive pre-commercialization and commercialization milestone payments of up to $600 million.
EGL, Inc. (Nasdaq: EAGL) 23.7% HIGHER; Jim Crane, the Chairman and CEO of EGL, Inc., announced that he, together with investment partner General Atlantic LLC, a leading global private equity firm, and members of senior management, has submitted a proposal to acquire all of the outstanding common stock of EGL, Inc. at a price of $36 per share in cash
Cal-Maine Foods Inc. (Nasdaq: CALM) 11.9% HIGHER; Net sales for the second quarter of fiscal 2007 were $137.7 million compared with net sales of $138.3 million for the same quarter of fiscal 2006. The Company reported net income of $6.4 million, or $0.27 per basic share, for the second quarter of fiscal 2007 compared with a net loss of $685,000, or $0.03 per basic share, for the second quarter of fiscal 2006.
Semiconductor Manufacturing International Corp. (NYSE: SMI) 16% HIGHER; takeover rumors
Rambus Inc. (Nasdaq: RMBS) 6% HIGHER; announced that Qimonda AG, a leading global producer of DRAM memory products, recently signed a technology license agreement for the Rambus XDR(TM) memory interface solution.
Sirius Satellite Radio Inc. (Nasdaq: SIRI) 6% HIGHER; Exceeds 6 Million Subscribers and Achieves First Cash Flow Positive Quarter
TASER International Inc. (Nasdaq: TASR) 4% HIGHER; Jefferies names as Top Pick for 2007.
Home Depot Inc. (NYSE: HD) 3.2% HIGHER; CEO Nardelli leaves
Nabors Industries Ltd. (NYSE: NBR) 2.6% LOWER; lowers Q4 EPS Guidance
Google Inc. (Nasdaq: GOOG) 1.35% HIGHER; Stifel adds to Select List. Piper Jaffray raises price target.
Amazon.com Inc. (Nasdaq: AMZN) 1.4% LOWER; Citigroup downgrades to Sell
Advanced Micro Devices Inc. (NYSE: AMD) 1% LOWER; Goldman Sachs downgrades to Sell
General Motors Corporation (NYSE: GM) 1% LOWER; Banc of America downgrades to Sell
China Precision Steel (Nasdaq: CPSL) 46% HIGHER; continued momentum following reverse merger with OraLabs Holding Corp. (Nasdaq: OLAB).
Cytokinetics Inc. (Nasdaq: CYTK) 33% HIGHER; the comapny and Amgen (NASDAQ: AMGN) announced a strategic collaboration to discover, develop and commercialize novel small-molecule therapeutics that activate cardiac muscle contractility for potential applications in the treatment of heart failure. The company receives a non-refundable up-front license and technology access fee of $42 million. Amgen purchased 3,484,806 shares of Cytokinetics common stock at $9.47. In addition, Cytokinetics may be eligible to receive pre-commercialization and commercialization milestone payments of up to $600 million.
EGL, Inc. (Nasdaq: EAGL) 23.7% HIGHER; Jim Crane, the Chairman and CEO of EGL, Inc., announced that he, together with investment partner General Atlantic LLC, a leading global private equity firm, and members of senior management, has submitted a proposal to acquire all of the outstanding common stock of EGL, Inc. at a price of $36 per share in cash
Cal-Maine Foods Inc. (Nasdaq: CALM) 11.9% HIGHER; Net sales for the second quarter of fiscal 2007 were $137.7 million compared with net sales of $138.3 million for the same quarter of fiscal 2006. The Company reported net income of $6.4 million, or $0.27 per basic share, for the second quarter of fiscal 2007 compared with a net loss of $685,000, or $0.03 per basic share, for the second quarter of fiscal 2006.
Semiconductor Manufacturing International Corp. (NYSE: SMI) 16% HIGHER; takeover rumors
Rambus Inc. (Nasdaq: RMBS) 6% HIGHER; announced that Qimonda AG, a leading global producer of DRAM memory products, recently signed a technology license agreement for the Rambus XDR(TM) memory interface solution.
Sirius Satellite Radio Inc. (Nasdaq: SIRI) 6% HIGHER; Exceeds 6 Million Subscribers and Achieves First Cash Flow Positive Quarter
TASER International Inc. (Nasdaq: TASR) 4% HIGHER; Jefferies names as Top Pick for 2007.
Home Depot Inc. (NYSE: HD) 3.2% HIGHER; CEO Nardelli leaves
Nabors Industries Ltd. (NYSE: NBR) 2.6% LOWER; lowers Q4 EPS Guidance
Google Inc. (Nasdaq: GOOG) 1.35% HIGHER; Stifel adds to Select List. Piper Jaffray raises price target.
Amazon.com Inc. (Nasdaq: AMZN) 1.4% LOWER; Citigroup downgrades to Sell
Advanced Micro Devices Inc. (NYSE: AMD) 1% LOWER; Goldman Sachs downgrades to Sell
General Motors Corporation (NYSE: GM) 1% LOWER; Banc of America downgrades to Sell
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