Pre-Open Movers 11/23: Euro Drug Stocks (AZN, NVS, GSK) Higher, City Telecom HK (CTEL) Sinks

StreetInsider.com Pre-Open Movers:

City Telecom HK Ltd. (Nasdaq: CTEL) 15% LOWER; announces annual results. Profit attributable to shareholders at HK$28.9 million in FY07, compared with a loss of HK$92.2 million.

AstraZeneca plc (NYSE: AZN) 10% HIGHER; Citigroup raised its rating on European health care from Underweight to Neutral, saying "a lot of bad news is priced in".

Novartis AG (NYSE: NVS) 8.6% HIGHER; Citigroup raised its rating on European health care from Underweight to Neutral, saying "a lot of bad news is priced in".

Glaxosmithkline plc (NYSE: GSK) 7.8% HIGHER; Citigroup raised its rating on European health care from Underweight to Neutral, saying "a lot of bad news is priced in". Also, Published Report Show GlaxoSmithKline's ROTARIX Offers Protection Against the Most Common Circulating Rotavirus Types.

Tibco Software Inc. (Nasdaq: TIBX) 6.7% HIGHER; Bear Stearns upgrades TIBCO Software from Underperform to Peer Perform.

Shire plc (Nasdaq: SHPGY) 5% HIGHER; Citigroup raised its rating on European health care from Underweight to Neutral, saying "a lot of bad news is priced in".

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