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Pre-market Movers For April 30- BKS, HUM, SUN, GPRO, MNKD, SCHL, LYB, HOLX, WCRX

Gainers:

Barnes & Noble, Inc. (BKS) is jumping 91 percent to $26.16. Microsoft (MSFT) will make a $300 million investment in a new Barnes & Noble subsidiary at a post-money valuation of $1.7 billion in exchange for an approximately 17.6% equity stake. Barnes & Noble will own approximately 82.4% of the new subsidiary, which would include NOOK Digital and College Businesses.

Sunoco, Inc. (SUN) is up 21 percent to $49.50 based on the news that Energy Transfer Partners L.P. (ETP) has agreed to acquire the company in a transaction valued at $50.13 per share, or a total consideration of approximately $5.3 billion.

Gen-Probe Inc. (GPRO) is rising 20 percent to $82.24. Hologic Inc. (HOLX) has agreed to acquire all of the outstanding shares of the company for $82.75 per share in cash, or a total enterprise value of nearly $3.7 billion. HOLX is up 5 percent to $22.25.

MannKind Corp. (MNKD) is up 7 percent to $2.40. The company announced a license agreement granting Tolero Pharmaceuticals exclusive rights to develop and commercialize compounds from its novel Bruton's tyrosine kinase program, which are currently being developed for the treatment of hematological malignancies and inflammatory diseases. Tolero will pay MannKind upfront and milestone payments of approximately $130 million.

Scholastic Corp. (SCHL) is rising 10 percent to $34.18 as the company lifted its fiscal 2012 earnings forecast, citing stronger than anticipated sales of The Hunger Games trilogy following the March 23rd movie release. Meanwhile, the company said its prior 2012 guidance for revenue and free cash flow remains unchanged.

Warner Chilcott plc (WCRX) is gaining 17 percent to $22 amid a report that it is seeking options, including possible sale of the company.

Decliners:

Humana Inc. (HUM) is falling nearly 4 percent to $84.07. The company's first quarter profit declined from the previous year period and was below analysts' estimate. Consolidated revenues improved 11 percent. The company expects second quarter and fiscal 2012 earnings below Wall Street view.

LyondellBasell Industries (LYB) is down 2 percent to $44.90. The company's first quarter earnings and sales and other operating revenues declined from the year-ago quarter.

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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