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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
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that it swung to a second quarter loss, hurt by higher costs and expenses even as revenue surged 47%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast.
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