Pre-Market Movers (Elan Corporation, Yingli Green, JinkoSolar, Trina Solar, Saks, Tower Semiconductor, Fortuna Silver Mines, RF MICRO DEVICES, SHANDA GAMES, AVEO)

   on July 29 2013 7:52 AM
NYSE
Traders work on the floor at the New York Stock Exchange April 25. A majority of companies have bested second-quarter earnings estimates for the tenth consecutive quarter, but revenues from sales remain down, two Standard & Poor’s executives said Friday. Reuters/Brendan McDermid

Elan Corporation plc, Yingli Green Energy Hold. Co, JinkoSolar Holding Co, Trina Solar Limited, Saks Inc, Tower Semiconductor Ltd, Fortuna Silver Mines Inc, RF MICRO DEVICES Inc, AVEO Pharmaceuticals Inc and SHANDA GAMES Ltd are among the companies whose shares are moving in pre-market trading on Monday.

Gainers

Elan Corporation plc (NYSE:ELN) stock climbed 10.65 percent to $16.52 in pre-market trading. The Irish biotech company’s shares rallied after it announced that U.S. drug maker Perrigo Co (NYSE: PRGO) will acquire Elan for $8.6 billion, in a cash and stock deal.

Trina Solar Limited (NYSE:TSL) shares rose 9.52 percent to $8.17 in pre-market trading. The Jining-China based solar company’s shares rose local media reported that China and the European Union reached an agreement, on Saturday, over a solar-panel trade dispute. 

Yingli Green Energy Hold. Co (NYSE:YGE) stock surged 9.48 percent to $4.39 in pre-market trading. The China-based solar company’s shares rose after local media reported that that China and the European Union reached an agreement over the solar-panel trade dispute. According to media reports, 95 solar companies including Yingli Green will enjoy zero-tariff treatment on their exports to the euro zone.

JinkoSolar Holding Co. Ltd (NYSE:JKS) stock advanced 8.61 percent to $14.00 in pre-market trading, following media reports about the resolution of the China-EU solar-panel trade dispute.

Saks Inc (NYSE:SKS) stock rose 4.18 percent to $15.95 in pre-market trading. The New York-based company’s shares rose on speculation that Canadian retailer Hudson's Bay Co. (TSE:HBC) is very close to reaching an agreement to buy Saks for more than $2 billion.  

Losers

Fortuna Silver Mines Inc (NYSE:FSM) fell steeply by 24.53 percent to $2.80 in pre-market trading. The company's shares have a 52-week low of $2.56, a 52-week high of $6.00 and $468.64 million in market capitalization.

Tower Semiconductor Ltd Inc (NASDAQ:TSEM) stock fell 7.88 percent to $4.21 in pre-market trading. The company's shares have a 52-week low of $4.50, a 52-week high of $10.77 and $100.54 million in market capitalization.

RF MICRO DEVICES Inc (NASDAQ:RFMD) stock declined 3.45 percent to $5.32 in pre-market trading. The company's shares have a 52-week low of $3.48, a 52-week high of $5.75 and $1.54 billion in market capitalization.

SHANDA GAMES Ltd (NASDAQ:GAME) stock fell 4.00 percent to $6.00 in pre-market trading. The company’s shares surged more than 7 percent in regular trading Friday after the company announced Friday that it has entered into definitive agreements to acquire affiliates providing user and payment platform services from its parent company Shanda Interactive Entertainment Limited. 

AVEO Pharmaceuticals Inc (NASDAQ:AVEO) shares fell 3.67 percent to $2.36 in pre-market trading. The company's shares have a 52-week low of $2.23, a 52-week high of $14.08 and $127 million in market capitalization.

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