Pre-market Movers For May 7 (AIG, CTSH, TSN, INSM, VRTX, GTSI, BSFT)

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5/7/2012 8:50 AM ET

Gainers:

Tyson Foods, Inc. (TSN: Quote) is up over 2 percent to $18.45. The company's second quarter profit increased from the previous year period and was above Wall Street view. Sales rose 3.4 percent, but missed the consensus estimate.

Insmed Inc (INSM: Quote) is rising 44 percent to $3.90. The company announced that the FDA has lifted the clinical hold previously placed on ARIKACE (liposomal amikacin for inhalation) in Cystic Fibrosis patients with Pseudomonas lung infections.

Vertex Pharmaceuticals Inc. (VRTX: Quote) is gaining 57 percent to $58.88. The company announced that an interim analysis of data from an ongoing Phase 2 study of VX-809 and KALYDECO showed significant improvements in lung function among adults with cystic fibrosis who have two copies of the most common mutation in the cystic fibrosis transmembrane conductance regulator gene, F508del.

GTSI Corp. (GTSI: Quote) is jumping 47 percent to $7.72. The company has agreed to be acquired by an an affiliate of UNICOM Systems, Inc through a cash tender offer, valuing each of its shares at $7.75 or for a total transaction value of $76.67 million.

Decliners:

American International Group, Inc. (AIG: Quote) is declining 7 percent to $30.53. On Sunday, the U.S. Treasury has priced the common stock offering of the company at $30.50 per share. Following the current offering, the Treasury's investment in AIG will be reduced to about $30.7 billion or a 63 percent stake, down from the 70 percent stake it held after the March 2012 offering.

Cognizant Technology Solutions Corp. (CTSH: Quote) is falling 11 percent to $61.70. The company's first quarter earnings and revenue improved from the year-ago quarter. However, the company stated that it is adopting a more conservative stance for the remainder of the year, due to a slower than anticipated acceleration in demand as it enters the second quarter.

BroadSoft, Inc. (BSFT: Quote) is falling 15 percent to $34.50. The company's first quarter GAAP profit declined from the year-ago quarter. The company guided its second quarter earnings per share and revenue below analysts' estimates.

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