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

Gainers:

Yahoo! Inc. (YHOO) 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) 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) 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) 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) 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) 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) was halted.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
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