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Pre-market Movers For March 26 (YHOO, AMGN, ARNA, VRNM, TEVA, CALM, AUDC)

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Gainers:

Yahoo! Inc. (YHOO: Quote) is up 0.62 percent to $15.48. The company appointed three new independent directors, effective April 5, 2012: John Hayes, Peter Liguori and Thomas McInerney. The company stated that appointing Third Point founder and Chief Executive Officer Daniel Loeb to its Board is not in the best interest of company and shareholders. Third Point responded that it is disappointed by the company's announcement and intends to move forward with a proxy contest.

Amgen Inc. (AMGN: Quote) is gaining over 1 percent to $67.83. The company announced positive results from a phase Ib study of AMG 145, an investigational PCSK9 inhibitor, in patients with high cholesterol who were taking statins. The study revealed that multiple doses of the drug significantly reduced LDL, or bad cholesterol, by up to 81 percent compared to placebo in patients on low to moderate doses of statins.

Arena Pharmaceuticals, Inc. (ARNA: Quote) is up nearly 9 percent to $2.62. The company announced European Medicines Agency's acceptance of Lorcaserin Marketing Authorization Application for weight control. The company also received FDA confirmation of May 10th Lorcaserin Advisory Committee Meeting.

Verenium Corp. (VRNM: Quote) is rising 29 percent to $4. The company announced it has closed a $37 Million sale of certain assets to Royal DSM. Verenium said it will receive $37 million in total consideration, including transaction and related expenses today.

Teva Pharmaceutical Industries Ltd. (TEVA: Quote) is up over 1 percent to $43.65. The company announced FDA approval for QNASLTM Nasal Aerosol, a new, "dry" nasal aerosol corticosteroid that treats seasonal nasal and year-round nasal allergy symptoms in adults and adolescents 12 years of age and older.

Decliners:

Cal-Maine Foods Inc. (CALM: Quote) is down over 2 percent to $40.90. The company's third quarter profit declined from the previous year. Net sales improved from the previous year.

Trading halt:

Trading in shares of AudioCodes Ltd. (AUDC: Quote) was halted.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Russia's central bank lifted its key rate sharply by a bigger-than-expected 150 basis points to counteract the slide in ruble and rising inflation. The Bank of Russia decided on Friday to raise its key rate to 9.50 percent from 8 percent. The bank was expected to hike its rate by 50 basis points. This was the fourth interest rate increase this year. Russia has agreed to resume gas supplies to Ukraine under a $4.6 billion dollar winter package, which will also secure gas for the European Union as the cold season approaches. The European Union has been mediating discussions to help find a sustainable solution to the dispute between Russia and Ukraine over gas pricing, supply and payment dues. After seven rounds of negotiations in recent months The Bank of Japan expanded its massive quantitative and qualitative easing unexpectedly as policymakers assessed it necessary to achieve the 2 percent inflation target even after a sales tax hike in April. In a 5-4 vote, the Policy Board led by Governor Haruhiko Kuroda decided to raise the monetary base at an annual pace of about JPY 80 trillion.
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