Monday, September 27, 2010

Day Trader's Alert: SGEN, YRCW, AAI

Shares of Seattle Genetics, Inc. (NASDAQ: SGEN) jumped more than 12% in pre-market trading after it announces positive top-line results from a single-agent brentuximab vedotin (SGN-35) trial. The  drug developer announced that its experimental cancer medicine shrank tumors in 75% of patients with Hodkin lymphoma that had relapsed despite rounds of chemotherapy and bone marrow transplants.

After Friday's closing bell, YRC Worldwide Inc. (NASDAQ: YRCW) announced that it has entered into a tentative agreement with the International Brotherhood of Teamsters to address the company's competitiveness, re-entry into multi-employer pension funds and progress toward long-term growth. Details of the agreement will be made available subject to the required approval by union leadership committees and the company's Board of Directors which are expected next week. Upon required approvals, the agreement will be submitted for ratification by YRCW employees represented by the Teamsters with completion targeted for late October 2010. Shares of YRCW surged more than 20% in pre-market trading.

AirTran Holdings, Inc. (NYSE: AAI) soared more than 55% in pre-market trading after it agreed to be acquired by Southwest Airlines (NYSE: LUV) in a cash and stock deal currently valued at more than $1.37 billion.

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