Below is a highlight of the top pre-market news affecting individual stocks:
- Acacia Research (ACTG) entered into a retroactive license agreement with Polo Ralph Lauren.
- Amtech Systems (ASYS) announced receipt of $8.9 million in additional Solar orders.
- Anesiva (ANSV) gets an additional investment from Alta Partners for $25 million more.
- Covidien (COV) is selling its retail products business to First Quality Enterprises for about $335 million.
- Ingersoll-Rand (IR) is acquiring Trane (TT) for $48 per share In Cash & Stock.
- KBR (KBR) announced preliminary 2008 earnings guidance at $1.30 to $1.60 EPS, analyst expectations are $1.51.
- Kosan Biosciences (KOSN) announced meaningful anti-tumor activity in Tanespimycin Trials; showed 55% clinical benefits.
- Loews Corp (LTR) announced it will spin-off Lorillard tobacco unit.
- Monaco Coach (MNC) announced a $30 million stock buyback plan.
- MGI PHARMA (MOGN) said Aquavan NDA was accepted for review by FDA.
- PPG Industries (PPG) agreed to acquire bodyshop distribution business of Unipart Automotive.
- Rambus (RMBS) entered into Toshiba license agreement for Rambus XDR(TM) memory architecture for HDTV chipset.
- Silicon Motion (SIMO) put its Q4 revenues at the high-end of prior guidance.
- Take-Two Interactive (TTWO) has announced the formation of 2K Marin, a new development studio under its 2K publishing label.
- Telular Corp. (WRLS) appointed Joseph A. Beatty as its new CEO.
- Trane (TT) is being acquired by Ingersoll-Rand for $48 per share in Cash & Stock.
- Ultralife Batteries (ULBI) announced a $62 million order.
- Yum! Brands (YUM) appoints Roger Eaton as Chief Operating and Development Officer-Designate.
Jon C. Ogg
December 17, 2007