Market Currents

• Friday, October 23, 2009

• 09:00 AM Premarket gainers: AMZN +18%. SYNA +13%. CIT +10%. MSFT +9%. COF +9%. BQI +6%. BUCY +5%. ALU +5%. FBCM +5%. RFMD +4%. CEO +4%.
  Losers: SPWRA -10%. ELN -10%. IBKR -9%. SNV -9%. BRCM -7%. BIIB -5%. AGU -4%. AIB -4%. Comment!

• Wednesday, October 21, 2009

• 09:00 AM Premarket gainers: SLM +11%. SNDK +5%. YHOO +5%. ELN +4%.
  Losers: AGEN -41%. TSFG -23%. PLCM -13%. ATI -7%. KEY -4%. GNBT -4%. STM -4%. BEE -4%. 1 Comment
• 07:20 AM Elan (ELN): Q3 EPS of -$0.06 beats by $0.07. Revenue of $399M (-19.5%) vs. $382M. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AAI, AMR, APD, ATI, BA, CAL, ELN, FLIR, FCX, GENZ, HCBK, KEY, LLY, MAN, MO, MS, NITE, NOC, NTRS, OMC, PENN, STJ, USB, USG, WFC Comment!

• Tuesday, September 15, 2009

• 07:49 AM Elan (ELN) drops the value of its $1.5B deal with Johnson & Johnson (JNJ) by $115M after a ruling earlier this month that the terms violated Elan and Biogen Idec's (BIIB) partnership over their MS drug Tysabri. The new terms eliminate a clause that would have allowed J&J to finance an Elan buyout of Biogen's stake. Comment!

• Sunday, September 13, 2009

• 16:02 PM Johnson & Johnson (JNJ) is attempting to knock at least $100M off the $1B in cash it agreed to pay Elan (ELN) in their $1.5B deal after a judge ruled part of the deal violated Elan's partnership with Biogen Idec (BIIB). The July deal gave J&J an 18.4% stake in Elan and access to its experimental Alzheimer's drugs. Comment!

• Friday, September 4, 2009

• 09:00 AM Premarket gainers: LTXC +25%. FNM +5%. AMED +5%. NVLS +4%. FRE +4%. CPSL +4%.
  Losers: ARRY -27%. ELN -5%. ANF -4%. Comment!
• 07:57 AM A federal judge rules Elan's (ELN) recent deal with J&J (JNJ) violates its marketing partnership with Biogen Idec (BIIB) for multiple sclerosis drug Tysabri. Elan must alter its J&J deal by Sept. 26, or potentially lose all its rights to Tysabri. Comment!

• Thursday, September 3, 2009

• 10:39 AM Elan (ELN +3.5%) spikes on chatter of possible interest from a Danish firm. Comment!

• Friday, August 7, 2009

• 08:07 AM Elan (ELN) files suit against Biogen Idec (BIIB), its marketing partner for multiple sclerosis drug Tysabri. Elan wants a court to allow an investment by J&J (JNJ) that it says Biogen is trying to block. Biogen says the investment violates a profit-sharing contract with Elan. Comment!

• Monday, August 3, 2009

• 09:00 AM Premarket gainers: AXL +15%. INO +12%. ONTY +11%. VHC +11%. BIF +9%. SVA +9%. DAN +9%. KFN +9%. VICL +8%. RBS +7%. F +7%. HUM +7%. NVAX +6%. BCS +6%. SOL +6%. HBC +6%. ERX +6%. ZQK +6%. RCL +5%. TGB +5%. FRO +5%. NXG +5%. WEN +5%. UBS +5%. EBAY +5%. FIG +5%. AKS +5%. FITB +5%. ALU +4%. TSN +4%. YGE +4%. AIB +4%. MT +4%. KEY +4%. STP +4%. FCX +4%. ELN +4%.
  Losers: HURN -73%. SVNT -25%. Comment!

• Tuesday, July 21, 2009

• 03:59 AM Elan (ELN): Q2 EPS of -$0.14 beats by $0.01. Revenue of $281M (+14.4%) vs. $262M. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: AKS, ALV, AMTD, BJS, BTU, CAL, CAT, CMA, DD, DGX, ELN, FCX, FRX, HCBK, JEF, KO, LMT, LUV, LXK, MRK, PCP, RF, SGP, SHW, STT, UAUA, UNH, UTX, WU Comment!

• Monday, July 20, 2009

• 15:20 PM Biogen Idec (BIIB +1.8%) jumps after Deal Journal speculates a recent move by Johnson & Johnson (JNJ) to buy 18.4% of Elan (ELN) may be a precursor to a takeover bid for Biogen, which markets multiple-sclerosis drug Tysabri together with Elan. Comment!

• Thursday, July 16, 2009

• 09:00 AM Premarket gainers: BFRM +42%. MOS +11%. HGSI +7%. ING +6%. ELN +5%. BUCY +4%. ANPI +4%. SAY +4%. BIIB +4%. ESLR +4%. PCX +4%. SNDK +4%.
  Losers: NOK -12%. MTG -11%. SLT -10%. TRGT -8%. XLNX -6%. CELL -7%. RFMD -5%. MOT -5%. HOG -5%. AIG -4%. Comment!

• Thursday, July 2, 2009

• 09:00 AM Premarket gainers: GST +37%. ELN +19%. ESLR +7%. RZ +7%. IPCR +5%.
  Losers: SEPR -16%. TIVO -15%. ILMN -14%. HMY -7%. RAD -6%. GFI -5%. XLNX -5%. CHU -5%. FRPT -5%. HEB -5%. ING -4%. LUV -4%. Comment!