Below is the top pre-market news out of individual stocks:
- Activision (ATVI) merges with Vivindi’s Blizzard (roughly 68% stake) to form giant video game company; ATVI shares up about 26%.
- Bruker BioSciences (BRKR) announced an agreement to acquire the Bruker BioSpin Group for $914 million in cash & stock.
- Citigroup (C) reduced the assets in SIV’s to $66 Billion from $83 Billion.
- Dell (DELL) has chosen WPP Group to lead its global advertising and marketing initiatives, which will involve some $1.5 Billion in ad billings spread across many ad companies.
- Ericsson (ERIC) was selected by T- Mobile UK as managed services partner for field operations in the UK.
- First Solar (FSLR) has acquired Turner Renewable Energy for roughly $34 million in stock and cash.
- Goodrich Petroleum (GDP) announced a 5.2 million share public offering.
- JAKKS Pacific (JAKK) said a lawsuit brought by World Wrestling Entertainment will be dismissed.
- Lennar (LEN) and Morgan Stanley Real Estate announced the formation of a strategic land investment venture where Lennar will sell many lots.
- MetLife (MET) issued in-line Q4 guidance, but 2008 EPS $5.90-6.20 versus $6.26 estimates.
- Microchip (MCHP) announced a $900 million convertible debentures offering.
- Motorola (MOT) should be broken up into four companies according to Carl Icahn, who also said that a Zander outing is not close enough to helping the company.
- Pharmacopeia (PCOP) announced additional positive data from Phase 1 multiple ascending dose study of PS433540.
- StemCells (STEM) is exploring an acquisition of progenitor cell therapy.
- Tribune (TRB) shares up 3% after the FCC approved waivers to transfer broadcasting rights to Sam Zell.
Jon C. Ogg
December 3, 2007
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