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

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4/30/2012 8:41 AM ET

Gainers:

Barnes & Noble, Inc. (BKS: Quote) 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: Quote) 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: Quote) is rising 20 percent to $82.24. Hologic Inc. (HOLX: Quote) 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: Quote) 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: Quote) 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: Quote) 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: Quote) 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.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
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