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Pre-market Movers For April 19 (HGSI, GILD, MS, BAC, TRV, EBAY, NOK, QCOM, VZ)

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4/19/2012 8:53 AM ET

Gainers:

Human Genome Sciences (HGSI: Quote) is jumping 103 percent to $14.60 as the company has received an unsolicited proposal from GlaxoSmithKline plc (GSK, GSK.L) at $13.00 per share cash. In response, the company stated that the offer is inadequate and also has authorized the exploration of strategic alternatives, including a potential sale of the company.

Gilead Sciences Inc. (GILD: Quote) is up 14 percent to $53.09 as the company announced sustained Virologic Response Data for 12-Week Regimen of GS-7977 Plus Pegylated Interferon and Ribavirin in Genotype 1 Hepatitis C patients. These data suggest that GS-7977-based regimen could offer most patients with genotype 1 a simple, short, three-month course of treatment with very high cure rates.

Morgan Stanley (MS: Quote) is rising over 5 percent to $18.66. The company slipped to a loss in its first quarter. Excluding Debt Valuation Adjustment, net revenues improved from the previous year. The company commented that this quarter is further evidence that it has rebounded from the financial crisis of 2008 and is in a significantly stronger position.

Bank of America Corp. (BAC: Quote) is rising 3 percent to $18.67. The company's first quarter profit declined from the previous year.The company said it made significant progress in the first quarter in line with its operating principles. The company noted that narrowing of its credit spreads reflects the significant progress it had made to strengthen the balance sheet.

Travelers Companies, Inc. (TRV: Quote) is up nearly 3 percent to $61.20. The company's first quarter earnings and operating income declined from the previous year period. However, operating earnings per share were sharply above Wall Street view.

eBay Inc. (EBAY: Quote) is rising over 9 percent to $39.16. The company's first quarter profit improved from the previous year, on 29 percent growth in revenues. Both earnings per share and revenue were above analysts' estimates. For the second quarter, the company expects adjusted earnings per share in-line with Wall Street view, but revenue below consensus.

Verizon Communications Inc. (VZ: Quote) is up more than 1 percent to $38.28 as the company's first quarter profit and revenues improved from the year-ago quarter and were also above consensus.

Decliners:

Nokia Corp. (NOK: Quote) is falling over 2 percent to $3.89. The company reported a hefty loss for the first quarter, tied down by one-off items and a significant decline in sales. In addition, the company announced that its sales chief is leaving for personal reasons.

QUALCOMM Inc. (QCOM: Quote) is declining over 3 percent to $3.89. The company's second quarter profit and revenues surged from the previous year. Both non-GAAP earnings per share and revenues were above Wall Street view. However, the company expects third quarter and fiscal 2012 non-GAAP earnings per share below consensus.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
New home sales in the U.S. unexpectedly showed a substantial decrease in the month of March, according to a report released by the Commerce Department on Wednesday, with sales falling to their lowest level in eight months. The report said new home sales plunged 14.5 percent to an annual rate of 384,000 in March from the revised February rate of 449,000. Euro area's government deficit shrunk last year to match the EU target, while public debt rose and remained above the official ceiling, figures from the Eurostat showed Wednesday. The shrunken government deficits suggest that euro area might be leaving behind the worst troubles of the financial crisis,... Following the strong upward move seen over the past few sessions, stocks may give back some ground in early trading on Wednesday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 6 points.
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