StreetInsider.com Pre-Open Movers 05/15

May 15, 2006 9:33 AM EDT
StreetInsider.com Pre-Open Movers:

Cambridge Antibody Technology Group plc (Nasdaq: CATG): 64% HIGHER; AstraZeneca (NYSE: AZN) and Cambridge Antibody Technology (Nasdaq: CATG) announce that they have agreed to terms of a recommended cash offer to be made by AstraZeneca to acquire the entire issued and to be issued share capital of CAT not otherwise held by AstraZeneca. The Offer for each CAT Share will be at 1,320 pence in cash and the Offer for each CAT ADS will be at 1,320 pence in cash, equivalent to US$24.96 per ADS (based on the exchange rate as at 12 May 2006).

American Retirement Corp. (NYSE: ACR) 32% HIGHER; Brookdale Senior Living Inc. (NYSE: BKD) and American Retirement Corporation Corp. (NYSE: ACR) today announced a definitive merger agreement under which Brookdale will acquire all of the outstanding shares of American Retirement Corporation for an aggregate purchase price of approximately $1.2 billion in cash, or $33.00 per share (on a fully diluted basis).

SSA Global Technologies, Inc. (Nasdaq: SSAG) 23% HIGHER; agreed to be acquired by Infor for $19.50 per share in cash. The agreement was approved by SSA Global's Special Committee of independent directors, as well as the Board of Directors.

Rentech, Inc. (AMEX: RTK) 11% HIGHER; Jim Cramer highlights on Mad Money

Gold Fields Ltd. (NYSE: GFI) 7% LOWER; weakness in gold

AngloGold Ashanti Ltd. (NYSE: AU) 7% LOWER; weakness in gold

Glamis Gold Ltd. (NYSE: GLG) 6% LOWER; weakness in gold

Target Corp. (NYSE: TGT) 5% LOWER; reports Q1 EPS of $0.63, in-line with estimates. Revenues were $12.86 billion vs. 12.80 billion consensus.

BHP Billiton Ltd. (NYSE: BHP) 5% LOWER; commodity weakness

TriQuint Semiconductor Inc. (NASDAQ: TQNT) 3% HIGHER; Piper Jaffray upgrades Triquint Semiconductor (TQNT) to Outperform

WR Berkley Corp. (NYSE: BER) 3% HIGHER; Stifel Nicolaus and Merrill Lynch upgrade

Threshold Pharmaceuticals Inc. (NASDAQ: THLD) 2.5% HIGHER; Added to NASDAQ Biotechnology Index, bounces after Friday’ sell-off

Southern Copper Corp. (NYSE: PCU) 4% LOWER; Cooper price weakness

CA, Inc. (NYSE: CA) 2% LOWER; CFO to resign

Warner Music Group Inc. (NYSE: WMG) 2% HIGHER; reports EMI could raise its offer for Warner Music (NYSE: WMG) to $30 per share.

Vodafone (NYSE: VOD) 2% HIGHER; reports the company could sell its 45% stake in Verizon Wireless to Verizon Communications (NYSE: VZ) for about $48 billion.

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