Premarket Movers: Rohm & Haas soars on buyout bid

The deal has already been approved both company's boards and now awaits the go-ahead from shareholders and regulators. Shares of Rohm & Haas jumped 65 percent to $74.35 from Wednesday's $44.83 closing price.

Wal-Mart Stores Inc. rose 27 cents to $57.95 after reporting June same-store sales that beat expectations, aided by grocery sales and tax-rebate checks. Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.

Wachovia Corp. fell 7.8 percent to $13.17 in heavy premarket trading. It said Wednesday night it set aside $4.2 billion pretax to cover bad loans for the quarter, leading to an estimated second-quarter loss of about $2.6 billion to $2.8 billion.

Fannie Mae and Freddie Mac fell in early action after a Bloomberg report that a former Federal Reserve official said the mortgage lenders are "insolvent" and may need a government bailout. Fannie Mae fell 2.4 percent to $14.93, while Freddie Mac lost 3.6 percent to $9.89.