Pre-Open Movers 11/19: Pharmion (PHRM) and Quanex (NX) Soar on M&A; Lowe's (LOW) Down on Guidance

StreetInsider.com Pre-Open Movers:

Natrol, Inc. (Nasdaq: NTOL) 90% HIGHER; signed a definitive merger agreement under which Plethico Pharmaceuticals Limited of India will acquire all outstanding shares of Natrol’s common stock, $.01 par value, for a cash purchase price of $4.40 per share.

Pharmion Corporation (Nasdaq: PHRM) 38% HIGHER; Celgene Corporation (Nasdaq: CELG) announced a definitive agreement to acquire Pharmion for $72.00 per share payable in a combination of cash and shares of Celgene common stock.

Quanex Corporation (NYSE: NX) 38% HIGHER; announced two transactions as a result of the strategic review announced in May 2007. First, Quanex will spin-off its Building Products business to its shareholders as a stand-alone company called Quanex Building Products in a taxable distribution. Second, immediately subsequent to completion of the spin-off, Quanex, consisting principally of the Vehicular Products business, including its MACSTEEL division, and corporate accounts will merge with a wholly-owned subsidiary of Gerdau S.A. in exchange for $39.20 per share in cash.

EchoStar Communications (Nasdaq: DISH) 9.8% HIGHER; Citigroup upgrades EchoStar Communications (Nasdaq: DISH) from Hold to Buy, with a $52 price target, citing valuation and takeover possibility. Commenting on EchoStart, the firm said, "We are upgrading EchoStar shares to Buy from Hold, based on 1) attractive valuation, and 2) our ongoing conviction that there's a 65% chance that T (NYSE: T) acquires DISH over the next 12 months. We still view $52 as fair value for DISH shares

Discover Financial Services LLC (NYSE: DFS) 3.7% LOWER; Goldman downgrades to Sell

Citigroup Inc. (NYSE: C) 3.8% LOWER; Goldman downgrses to Sell

Fannie Mae (NYSE: FNM) 3.5% LOWER; Friedman Billings downgrades to Market Perform.

Lowe's Companies Inc. (NYSE: LOW) 3.4% LOWER; reports Q3 EPS of $0.43, 2 cents better than the consensus of $0.41. Revenues came in at $11.6 billion, versus the consensus of $11.78 billion. Sees Q4 EPS of $0.25-$0.29, below the consensus of $0.36. Total Q4 sales are expected to increase approximately 3 percent. Sees FY07 EPS of $1.83 to $1.87, below the consensus of $1.93.

QUALCOMM Inc. (Nasdaq: QCOM) 1% HIGHER; JPMorgan upgrades to Overweight

Yahoo! Inc. (Nasdaq: YHOO) 1% HIGHER; Merrill Lynch upgrades to Buy

EarthLink (Nasdaq: ELNK) INDICATED HIGHER; will begin a process to consider its strategic alternatives for its municipal wireless business.

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