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Pre-market Movers For March 5 (QCOM, JCP, ACRX, CREE, HIMX, SNTS, ASNA, IPXL)

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3/5/2013 8:47 AM ET

Gainers:

QUALCOMM Inc. (QCOM: Quote) is rising 2 percent to $67.95. The company raised its quarterly cash dividend by 40 percent and also announced a new $5.0 billion stock buyback program to replace the previous $4.0 billion repurchase program, that had $2.5 billion of repurchase authority remaining.

AcelRx Pharmaceuticals, Inc. (ACRX: Quote) is up 12 percent to $5.59 following its announcement that the first of two pivotal placebo-controlled Phase 3 studies for its investigational sublingual Sufentanil NanoTab PCA System met its primary endpoint.

Cree, Inc. (CREE: Quote) is up 7 percent to $48.05. The company introduced a game-changing series of LED bulbs at a retail price point and also raised its third-quarter guidance.

Himax Technologies, Inc. (HIMX: Quote) is gaining 21 percent to $4.16.

Santarus, Inc. (SNTS: Quote) is up over 8 percent to $14.99, Ascena Retail Group Inc. (ASNA) is up 13 percent to $18.70 following the release of their quarterly results.

Decliners:

J. C. Penney Company, Inc. (JCP: Quote) is falling 3 percent to $16.22 based on reports that one of the department store chain's largest shareholders, Vornado Realty Trust (VNO), plans to sell almost half of its stake in the company.

Impax Laboratories Inc. (IPXL: Quote) is plunging 20 percent to $15.98 following the news that the FDA has issued a new Form 483 with twelve observations following re-inspection of company's Hayward manufacturing facility.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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