StreetInsider.com Pre-Open Movers 09/24
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StreetInsider.com Pre-Open Movers:
Sonus Pharmaceuticals, Inc. (NASDAQ: SNUS) 83% LOWER; announced that its Phase 3 pivotal trial of TOCOSOL Paclitaxel in women with metastatic breast cancer did not meet its primary endpoint of non-inferiority on objective response rate when compared to the Taxol control arm.
C-COR Incorporated (Nasdaq: CCBL) 34% HIGHER; ARRIS Group Inc. (Nasdaq: ARRS) and C-COR Incorporated entered into a definitive agreement whereby ARRIS will acquire C-COR for a purchase price of approximately $730 million in a mix of cash and ARRIS stock.
PetroChina Co. Ltd. (NYSE: PTR) 9% HIGHER; Reports the company won regulatory approval in China to list shares on the Shanghai stock exchange. The company plans to sell up to 4 billion yuan-denominated Class-A shares.
Horsehead Holding Corp. (Nasdaq: ZINC) 8% HIGHER; CNBC's Jim Cramer highlighted the stock on Mad Money Friday. Cramer said the company's August IPO was bad timing. Cramer sees the price of zinc increasing, which is the company's primary product.
Harman International (NYSE: HAR) 8% LOWER; Expects operating income and diluted EPS before merger related costs to equal or exceed last year's record performance, which was $4.14. The current consensus is $4.87. On Friday, Harman said it was informed that Kohlberg Kravis Roberts and GS Capital Partners no longer intend to complete the previously announced acquisition of the company.
ADTRAN, Inc. (NASDAQ: ADTN) 7% LOWER; Said revenues and fully diluted earnings per share for the third quarter ending September 30, 2007 are anticipated to be flat compared to the second quarter 2007
BHP Billiton Ltd. (NYSE: BHP) 5.7% HIGHER; Reports the company will announce that is has discovered the world's largest gold resource at its Olympic Dam mine in South Australia.
Progen Pharmaceuticals Limited (Nasdaq: PGLA) 5% LOWER; said the Phase 2 trial administering 250mg of PI-88 in combination with the chemotherapeutic agent docetaxel to patients with advanced non small cell lung cancer did not meet its primary endpoint of significantly improving the progression-free rate at six months compared to docetaxel alone. Separately, the company announced that PI-88 has been awarded Fast Track status by the FDA for the prevention of tumor recurrence following curative liver resection in patients with hepatocellular carcinoma (HCC, primary liver cancer).
EMC Corporation (NYSE: EMC) 4% HIGHER; Bear Stearns and Citigroup upgraded the stock.
General Motors (NYSE: GM): Expectations the company will reach a deal with the UAW.
Apple Inc. (Nasdaq: AAPL) 1.9% HIGHER; Citigroup raises its price target to $185
Rockwell Automation Inc. (NYSE: ROK) 1.4% LOWER; JP Morgan downgrades Rockwell Automation to Neutral
Sonus Pharmaceuticals, Inc. (NASDAQ: SNUS) 83% LOWER; announced that its Phase 3 pivotal trial of TOCOSOL Paclitaxel in women with metastatic breast cancer did not meet its primary endpoint of non-inferiority on objective response rate when compared to the Taxol control arm.
C-COR Incorporated (Nasdaq: CCBL) 34% HIGHER; ARRIS Group Inc. (Nasdaq: ARRS) and C-COR Incorporated entered into a definitive agreement whereby ARRIS will acquire C-COR for a purchase price of approximately $730 million in a mix of cash and ARRIS stock.
PetroChina Co. Ltd. (NYSE: PTR) 9% HIGHER; Reports the company won regulatory approval in China to list shares on the Shanghai stock exchange. The company plans to sell up to 4 billion yuan-denominated Class-A shares.
Horsehead Holding Corp. (Nasdaq: ZINC) 8% HIGHER; CNBC's Jim Cramer highlighted the stock on Mad Money Friday. Cramer said the company's August IPO was bad timing. Cramer sees the price of zinc increasing, which is the company's primary product.
Harman International (NYSE: HAR) 8% LOWER; Expects operating income and diluted EPS before merger related costs to equal or exceed last year's record performance, which was $4.14. The current consensus is $4.87. On Friday, Harman said it was informed that Kohlberg Kravis Roberts and GS Capital Partners no longer intend to complete the previously announced acquisition of the company.
ADTRAN, Inc. (NASDAQ: ADTN) 7% LOWER; Said revenues and fully diluted earnings per share for the third quarter ending September 30, 2007 are anticipated to be flat compared to the second quarter 2007
BHP Billiton Ltd. (NYSE: BHP) 5.7% HIGHER; Reports the company will announce that is has discovered the world's largest gold resource at its Olympic Dam mine in South Australia.
Progen Pharmaceuticals Limited (Nasdaq: PGLA) 5% LOWER; said the Phase 2 trial administering 250mg of PI-88 in combination with the chemotherapeutic agent docetaxel to patients with advanced non small cell lung cancer did not meet its primary endpoint of significantly improving the progression-free rate at six months compared to docetaxel alone. Separately, the company announced that PI-88 has been awarded Fast Track status by the FDA for the prevention of tumor recurrence following curative liver resection in patients with hepatocellular carcinoma (HCC, primary liver cancer).
EMC Corporation (NYSE: EMC) 4% HIGHER; Bear Stearns and Citigroup upgraded the stock.
General Motors (NYSE: GM): Expectations the company will reach a deal with the UAW.
Apple Inc. (Nasdaq: AAPL) 1.9% HIGHER; Citigroup raises its price target to $185
Rockwell Automation Inc. (NYSE: ROK) 1.4% LOWER; JP Morgan downgrades Rockwell Automation to Neutral
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