The companies whose shares are moving in pre-market trade Monday are: Ardea Biosciences, Amylin Pharmaceuticals, Savient Pharmaceuticals, Amarin Corp, DR Horton, Achillion Pharmaceuticals, SGOCO Group, Kellogg Co, Wal-Mart Stores and United States Steel Corp.
Ardea Biosciences, Inc. (RDEA) stock climbed 51.30 percent to $31.53 in pre-market session. AstraZeneca and RDEA announced that they have entered into a definitive merger agreement. Under the deal, AstraZeneca will acquire Ardea for $32 per share which represents a total cash value of approximately $1.26 billion.
Amylin Pharmaceuticals, Inc. (AMLN) stock climbed 10.21 percent to $25.126 in pre-market. The company is reportedly hired Credit Suisse and Goldman Sachs as its financial advisers to help it seek a buyer, after rejecting a $3.5 billion takeover bid from Bristol-Myers Squibb.
Savient Pharmaceuticals, Inc. (SVNT) stock surged 5.13 percent to $2.46 in pre-market session on news that AstraZeneca buying Ardea Biosciences in $1.26 billion deal.
Amarin Corp. (AMRN) surged 5.77 percent to $11.00 in pre-market session. The stock has a 52-week low of $5.99, a 52-week high of $19.87 and $1.41 billion in market capitalization.
DR Horton Inc. (DHI) stock gained 3.38 percent to $15.90 in pre-market session. The company reported second quarter net income of $40.6 million or $0.13 per share compared to $27.8 million or $0.09 per share in the same period last year and against analysts’ estimation of $0.04 per share.
Achillion Pharmaceuticals, Inc. (ACHN) stock slumped 13.65 percent to $7.15 in pre-market session. The company stock was downgraded to “market perform” from “outperform” at JMP Securities.
SGOCO Group Ltd. (SGOC) stock plunged 7.17 percent to $2.20 in pre-market session. The company stock climbed 85 percent on Friday.
Kellogg Co. (K) stock plunged 5.82 percent to $50.85 in pre-market session after lowering its fiscal 2012 forecast. The company currently expects fiscal 2012 internal net sales will increase at a rate between 2 to 3 percent compared to its earlier estimation of 4 to 5 percent gain. The company also reported first quarter net profit of $1.00 per share compared to analysts’ estimation of $0.99 per share.
Wal-Mart Stores Inc. (WMT) stock fell 3.76 percent to $60.10 in pre-market session. The company suppressed an investigation into an extensive bribery campaign carried out by top executives of its Mexican subsidiary, Walmart de Mexico, to gain market dominance across the country, the New York Times reported Saturday.
United States Steel Corp. (X) declined 2.38 percent to $28.30 in pre-market session. The stock has a 52-week low of $18.85, a 52-week high of $52.23 and $4.17 billion in market capitalization.