StreetInsider.com Pre-Open Movers 09/05
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StreetInsider.com Pre-Open Movers:
Adolor Corporation (Nasdaq: ADLR) 51% LOWER; Announced top-line results from two identically designed Phase 3 registration studies (012 and 013) of alvimopan (Entereg/Entrareg) for the treatment of opioid-induced bowel dysfunction (OBD) in patients with chronic non-cancer pain. The Study 013 did not achieve statistical significance. Study 012 achieved statistical significance in its primary endpoint.
Click Commerce, Inc. (Nasdaq: CKCM) 25.6% HIGHER; Illinois Tool Works Inc. (NYSE: ITW) reached an agreement to make a cash tender offer to acquire all of the outstanding shares of Click Commerce. As part of the agreement, ITW would purchase all of Click Commerce's outstanding shares for $22.75 per share.
Veritas DGC Inc. (NYSE: VTS) 17% HIGHER; Compagnie Generale de Geophysique (NYSE: GGY) and Veritas DGC Inc. entered into a definitive merger agreement whereby CGG will acquire Veritas in a part cash, part stock transaction.
Vasogen Inc. (Nasdaq: VSGN) 15% HIGHER; Trial shows Vasogen's Celacade technology reduced the risk of death and cardiovascular hospitalization by 31%.
Redback Networks Inc. (Nasdaq: RBAK) 8% LOWER; UBS downgrades from Buy to Neutral
International Displayworks Inc. (Nasdaq: IDWK) 5% HIGHER; Flextronics International Ltd. (Nasdaq: FLEX) agreed to buy the company in a stock- for-stock merger with an aggregate value of approximately $300 million.
QLogic (Nasdaq: QLGC) 3.8% HIGHER; JP Morgan upgrades QLogic from Neutral to Overweight and adds the stock to its Focus List.
Phelps Dodge Corp. (NYSE: PD) 3.5% higher; has agreed with Inco Ltd. (NYSE: N) to terminate their Combination Agreement, effective today.
Swift Transportation Co. Inc. (Nasdaq: SWFT) 3% LOWER; Merill Lynch downgrades Swift Transportations from Buy to Neutral
Chevron Corporation (NYSE: CVX) 1.8% HIGHER; successfully completed a record setting production test on the Jack #2 well at Walker Ridge Block 758 in the U.S. Gulf of Mexico.
Bristol-Myers Squibb Co. (NYSE: BMY) 1.3% LOWER; cuts its previously disclosed full year 2006 guidance for fully diluted earnings per share from continuing operations to no less than $0.95 on a GAAP basis and no less than $0.95 on an adjusted non-GAAP basis
Adolor Corporation (Nasdaq: ADLR) 51% LOWER; Announced top-line results from two identically designed Phase 3 registration studies (012 and 013) of alvimopan (Entereg/Entrareg) for the treatment of opioid-induced bowel dysfunction (OBD) in patients with chronic non-cancer pain. The Study 013 did not achieve statistical significance. Study 012 achieved statistical significance in its primary endpoint.
Click Commerce, Inc. (Nasdaq: CKCM) 25.6% HIGHER; Illinois Tool Works Inc. (NYSE: ITW) reached an agreement to make a cash tender offer to acquire all of the outstanding shares of Click Commerce. As part of the agreement, ITW would purchase all of Click Commerce's outstanding shares for $22.75 per share.
Veritas DGC Inc. (NYSE: VTS) 17% HIGHER; Compagnie Generale de Geophysique (NYSE: GGY) and Veritas DGC Inc. entered into a definitive merger agreement whereby CGG will acquire Veritas in a part cash, part stock transaction.
Vasogen Inc. (Nasdaq: VSGN) 15% HIGHER; Trial shows Vasogen's Celacade technology reduced the risk of death and cardiovascular hospitalization by 31%.
Redback Networks Inc. (Nasdaq: RBAK) 8% LOWER; UBS downgrades from Buy to Neutral
International Displayworks Inc. (Nasdaq: IDWK) 5% HIGHER; Flextronics International Ltd. (Nasdaq: FLEX) agreed to buy the company in a stock- for-stock merger with an aggregate value of approximately $300 million.
QLogic (Nasdaq: QLGC) 3.8% HIGHER; JP Morgan upgrades QLogic from Neutral to Overweight and adds the stock to its Focus List.
Phelps Dodge Corp. (NYSE: PD) 3.5% higher; has agreed with Inco Ltd. (NYSE: N) to terminate their Combination Agreement, effective today.
Swift Transportation Co. Inc. (Nasdaq: SWFT) 3% LOWER; Merill Lynch downgrades Swift Transportations from Buy to Neutral
Chevron Corporation (NYSE: CVX) 1.8% HIGHER; successfully completed a record setting production test on the Jack #2 well at Walker Ridge Block 758 in the U.S. Gulf of Mexico.
Bristol-Myers Squibb Co. (NYSE: BMY) 1.3% LOWER; cuts its previously disclosed full year 2006 guidance for fully diluted earnings per share from continuing operations to no less than $0.95 on a GAAP basis and no less than $0.95 on an adjusted non-GAAP basis
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