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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
Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items. In an unusual incident, an Airbus operated by Singapore Airlines temporarily lost power on both its Rolls Royce engines during a flight and plunged almost 13,000 feet or 3.96 kilometers. However, pilots managed to save the Airbus through standard operational procedures and it continued on its routine path. Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet.
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