Below we highlight few stocks which may have unusual moves in regular trading on Monday.
McAfee (NYSE: MFE) on Thursday agreed to be bought by Intel Corp. (NASDAQ: INTC) for $48 per share in cash, valuing the deal at approximately $7.68 billion. McAfee will operate as a wholly-owned subsidiary, reporting into Intel's Software and Services Group.
L-1 Identity Solutions, Inc. (NYSE: ID) , a leading supplier of identity solutions and services, today provided an update on its strategic alternative process. The company is in the final stages of the process and has received bids from several interested parties, both domestic and foreign. L-1 and its financial advisors continue to evaluate the various proposals and expect to announce the results in the coming weeks.
StemCells, Inc. (NASDAQ: STEM) jumped more than 18% in pre-market action after it announced the publication of new preclinical data demonstrating that the Company's proprietary human neural stem cells restore lost motor function in mice with chronic spinal cord injury. This is the first published study to show that human neural stem cells can restore mobility even when administered at time points beyond the acute phase of trauma, suggesting the prospect of treating a much broader population of injured patients than previously demonstrated.
Human Genome Sciences, Inc. (NASDAQ: HGSI) and GlaxoSmithKline PLC (NYSE: GSK) today announced that the U.S. Food and Drug Administration (FDA) has granted a priority review designation to BENLYSTA(R) (belimumab) as a potential treatment for systemic lupus erythematosus (SLE). A priority review designation is granted to drugs that, if approved, offer major advances in treatment or provide a treatment where no adequate therapy exists. The FDA has assigned belimumab a Prescription Drug User Fee Act (PDUFA) target date of December 9, 2010. Human Genome shot up as much as 4% in pre-market trading.
After Wednesday's closing bell, SanDisk Corporation (NASDAQ: SNDK) announced that it plans to offer up to $1.15 billion in convertible senior notes due in 2017. In addition, the company expects to grant the underwriters an option to purchase up to an additional $150 million principal amount of notes from the Company to cover overallotments. Shares of the flash memory maker dropped more than 2% in pre-market trading.
Full Disclosure: None.
