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Pre-market Movers For March 20 (FDX, APC, CIE, BBRY, ADBE, OMPI, LEN, GEVO)

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3/20/2013 8:49 AM ET

Gainers:

Anadarko Petroleum Corp. (APC: Quote) is up over 3 percent to $86.00 following its announcement that its Shenandoah-2 well in the deepwater Gulf of Mexico encountered more than 1,000 net feet of oil pay in multiple high-quality Lower Tertiary-aged reservoirs. Based on this news, Cobalt International Energy, Inc. (CIE: Quote), which holds a 20 percent working interest in Shenandoah, is up over 7 percent to $27.75.

BlackBerry (BBRY: Quote) is up nearly 6 percent to $15.89.

Adobe Systems Inc. (ADBE: Quote) is rising more than 5 percent to $43.11 following the release of its first quarter results.

Obagi Medical Products, Inc (OMPI: Quote) is surging 28 percent to $19.74 based on the news that it agreed to be acquired by Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) for $19.75 per share in cash. The transaction values Obagi common stock at approximately $360 million.

Lennar Corp. (LEN: Quote) is up nearly 1 percent to $41.80. The company's first quarter profit surged from the last year quarter. Revenues from home sales increased 40 percent. Total revenues improved and also topped the consensus estimate.

Gevo, Inc. (GEVO: Quote) is gaining 17 percent to $2.41 based on the reports that it has won ruling for no infringement of Butamax patent.

Decliners:

FedEx Corp. (FDX: Quote) is falling 4 percent to $102.10. The company's third quarter profit declined from the prior year period and was below Wall Street view. Revenue rose 4 percent and managed to beat the consensus estimate. The company noted that its third quarter was very challenging. FedEx forecast fourth quarter earnings per share below analysts' estimate and also lowered its fiscal 2013 earnings guidance. Meanwhile, the company authorized the repurchase of up to 10 million shares.

Trading halt:

Trading in shares of Samson Oil & Gas Ltd. (SSN) was halted.

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by RTT Staff Writer

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