StreetInsider.com Pre-Open Movers 11/06

StreetInsider.com Pre-Open Movers 11/06:

Kos Pharmaceuticals, Inc. (Nasdaq: KOSP) 54% HIGHER; Abbott (NYSE: ABT) and Kos Pharmaceuticals, Inc. announced a definitive agreement for Abbott to acquire Kos for $78 per share in cash, for a total transaction value of $3.7 billion, net of cash currently held by Kos.

Adolor Corporation (Nasdaq: ADLR) 36% LOWER; Adolor and GlaxoSmithKline (NYSE: GSK) said the FDA has issued a letter stating that the new drug application for Entereg for the management of postoperative ileus is approvable. The companies said the FDA has requested 12-month safety data, including analysis of serious cardiovascular events, from study 767905/014, an ongoing safety study in opioid-induced bowel dysfunction (OBD). The FDA also requested a risk management plan as part of the submission.

Four Seasons Hotels Inc. (NYSE: FS) 30% HIGHER; received a proposal to pursue a transaction through which Four Seasons would be taken private for $82 per share in cash. The proposed transaction values Four Seasons at US$3.7 billion. The proposal was received from Isadore Sharp (CEO) and Triples Holdings Limited, together with Kingdom Hotels International, a company owned by a trust created by His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, and Cascade Investment, L.L.C. (an entity owned by William H. Gates III).

Traffic.com (Nasdaq: TRFC) 28% HIGHER; NAVTEQ (NYSE: NVT) agreed to acquire Traffic.com for an equity value of approximately $179 million.

Swift Transportation Co., Inc. (NASDAQ: SWFT) 25% HIGHER; confirmed it received a letter from Jerry Moyes, the Company's largest shareholder, a current Director, and a former Chairman of the Board and CEO of Swift, proposing to acquire all of the Company's outstanding common stock in an all-cash transaction at a price of $29.00 per share.

OSI Restaurant Partners, Inc. (NYSE: OSI) 24% HIGHER; entered into a definitive agreement to be acquired by an investor group comprised of Bain Capital Partners, LLC, Catterton Partners and Company founders Chris T. Sullivan, Robert D. Basham and J. Timothy Gannon, for $40.00 per share in cash.

ElkCorp (NYSE: ELK) 23% HIGHER; announced that its management and Board of Directors are engaged in a review of the Company's strategic alternatives, which could include a possible merger or sale of the Company. The Company has retained UBS Investment Bank to assist in this process.

CombinatoRx, Incorporated (NASDAQ: CRXX) 20% HIGHER; announced positive preliminary results of its randomized, blinded, placebo-controlled phase 2 clinical trial of CRx-102 in rheumatoid arthritis

Per-Se Technologies, Inc. (NASDAQ: PSTI) 13% HIGHER; McKesson Corporation (NYSE: MCK) and Per-Se Technologies announced that the two companies have signed a definitive agreement under which McKesson will acquire Per-Se for $28.00 per share in cash.

Houston Wire & Cable Company (NASDAQ: HWCC) 13% HIGHER; reports Q3 results

Overstock.com Inc. (Nasdaq: OSTK) 12.8% LOWER; reports a Q3 loss of $1.19, above the consensus of a $0.82 loss. Revenues were down 6% to $158.7 million, versus the consensus of $181.22 million.

Multi-Fineline (Nasdaq: MFLX) 11.4% LOWER; reports Q4 earnings of $0.09, which may not compare to the consensus of $0.28 . Revenues came in at $110.3 million versus the consensus of $128.7 million.

XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) 10% HIGHER; reports a Q3 loss of $0.32, versus the consensus of a $0.46 loss. Revenues came in at $240.4 million versus the consensus of $235.25 million.

Marvel Enterprises (NYSE: MVL) 7.8% HIGHER; reports Q3 earnings of $0.16 per share, 4 cents better than estimates. Sales came in at $92.2 milion versus the consensus of $85.5 million. Sees FY06 EPS of $0.61-$0.64 versus the consensus of $0.59 consensus. Sees FY06 sales of $330-$340 million versus the consensus of $337.2 million. Sees FY07 EPS of $1.35-$1.55 versus the consensus of $1.22. Sees FY07 sales of $375-$435 million versus the consensus of $459.4 million.

Cell Therapeutics, (Nasdaq: CTIC) 7% LOWER; said enrollment on its PIONEER lung cancer clinical trial has been temporarily suspended while the Company awaits follow up data of recently enrolled patients.

Home Depot Inc. (NYSE: HD) 1.3% LOWER; UBS downgrade

Columbia Equity Trust, Inc. (NYSE: COE) INDICATED HIGHER; The company and a subsidiary of JPMorgan (NYSE: JPM) Asset Management's Special Situation Property Fund announced that Columbia and SSPF have entered into a definitive agreement whereby SSPF will acquire Columbia in an all cash merger valued at approximately $502 million, including the assumption of Columbia's debt of approximately $213 million.

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