Stocks Running Early (HGSI, VRTX, DNDN, JWN)
Human Genome Sciences (Nasdaq: HGSI) is up 34% in the pre-market after announcing positive results related to its lupus drug.
Dendreon Corporation (Nasdaq: DNDN) up 5% after it announced it completed its submission of Biologics License Application for PROVENGE earlier than expected.
Vertex Pharmaceuticals (VRTX) are up 10% after announcing late Friday that 80% of Hepatitis C patients treated in its Study C208 achieved an sustained viral response (SVR) with a telaprevir-based regimen. The results of the Vertex study support the potential future role for response-guided therapy to improve patient outcomes.
Encore Energy Partners LP (ENP) are up 23% after Denbury Resources (DNR) for $15.00 per share in cash and $35.00 per share in Denbury common stock.
Nordstrom (JWN) is up 5% after Deutsche upgraded it from Hold to Buy. Deutsche raised its price target on Nordstrom to $45 from $36. Deutsche said JWN is gaining share and the stabilization in California should help the stock.
Amylin Pharmaceuticals, Inc. (AMLN) up 6% after Amylin Pharmaceuticals, Inc. and Eli Lilly (LLY) announced that the FDA has approved an expanded indication for BYETTA (exenatide) injection. BYETTA is now approved for use as a stand-alone medication (monotherapy) along with diet and exercise to improve glycemic control in adults with type 2 diabetes.
Terra Industries Inc. (NYSE: TRA) up 10% after CF Industries Holdings, Inc. (CF) announced that it is seeking acquire Terra Industries for $32 in cash and 0.1034 of a share of CF Industries common stock for each Terra share (including the $7.50 per share special dividend declared by Terra). The offer has a value of $40.61 per share, based on closing price for CF Industries common stock. Morgan Stanley has committed $2.5 billion to provide the funds required for the transaction.
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Posted-In: Pre-Market Outlook Movers