Pre Market Trading Indications

Gapping up in reaction to strong earnings/guidance: CDIC +16.1%, PRLS +11.1%, EXAC +5.8%, PZN +5.1%, FAST +4.0%, SJR +2.8%, BSET +2.1%, CTCT +1.3%, IRIX +1.1%...

M&A news: TZIX +18.8% (to be acquired by Apax Partners for $22/share)...

Other news: ADLS +11.7% (announces that, based on a productive meeting with the FDA, it plans to submit a New Drug Application in the third quarter of 2008 for its novel once-a-day oral antibiotic; also upgraded to Buy at Lazard), CVTX +10.8% (CV Therapeutics and Astellas announce FDA approval for Lexiscan injection), PDLI +10.6% (declares a special cash dividend of $4.25 per share; announces plan to separate its biotechnology operations from its antibody humanization royalty assets), BNS +6.9% (WSJ reports NCC draws interest of Bank of Nova Scotia), DAL +6.2% (continued strength following report that Delta-Northwest merger may be announced next week; also upgraded to Outperform at Credit Suisse), CCJ +2.9% (continued speculation that China signals takeover interest), FTE +2.7% (says 'no current plans' for major share buyback - Thomson), NCC +2.1% (draws interest of Bank of Nova Scotia - WSJ), ANGO +1.6% (offers to purchase certain Diomed assets in the United States and United Kingdom; co to pay $11 mln for assets), BHI +1.5% (Cramer makes positive comments on MadMoney), HRB +1.5% (Director Richard Breeden buys 2 mln shares at $21.61-21.89), NWA +1.2% (continued strength following report that Delta-Northwest merger may be announced next week; also upgraded to Outperform at Credit Suisse)...


Analyst upgrades: CNTF +2.1% (initiated with Buy at Roth), CLNE +1.3% (initiated with a Buy at Lazard), MHS +1.0% (upgraded to Outperform at Credit Suisse).

Gapping up: CVTX +18.3%, PDLI +11.0%, PRLS +6.8%, EXAC +5.8%, NVDA +3.4%, DAL +2.6%, CCJ +2.1%, ANGO +1.6%, BHI +1.5%, NWA +1.2%...

Gapping down: FRNT -23.6%, PWER -17.2%, FDRY -16.2%, ACPW -11.6%, PCOP -11.1%, GE -9.5%, INTV -7.8%, WM -1.5%, GS -1.4%, ABB -1.3%, C -1.3%, PRU -1.0%.