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Premarket Movers: GE rises, Dynavax falls



16 May 2008 @ 09:17 am EST

NEW YORK (AP) - Shares of General Electric Co. rose in premarket trading Friday after the company confirmed it plans to sell or spin-off its century-old appliance business.

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Quotes
GE 28.06 0.96
AAP 38.59 0.66
DVAX 1.49 0.02
HOKU 4.48 0.46

SYMBOL LOOKUP

GE stock added 9 cents at $32.46.

Advance Auto Parts Inc. rose after the auto parts retailer said its first-quarter profit climbed 8 percent to $82.1 million, or 86 cents per share, on better sales at new stores.

The results beat Wall Street estimates, and the stock rose $3.50, or 10.1 percent, from Thursday's closing price of $34.64.

A contract with the Hawaiian Electric Company to install a photovoltaic power system sent shares of Hoku Solar Inc. up 13.6 percent to $8.87 in early action.

Dynavax Technologies Corp. said it is ending development of its ragweed allergy drug Tolamba after it failed a midstage trial. Shares lost 47 cents, or 18.9 percent at $2.02 before the opening bell.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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