Stock futures were pointing to a higher opening following strong gains in Europe and ahead of the release of the Fed’s Beige Book.

Here are some of the early market-movers for Wednesday.

 

ZymoGenetics Inc (NASDAQ:ZGEN)

Shares of the biopharmaceutical company jumped 83.5% in pre-market trading after it announced it would be acquired by Bristol-Myers Squibb for $885 million.

 

Microtune Inc. (NASDAQ:TUNE)

The cable box manufacturer will be acquired by the Zoran Corp. in a deal valued at $166 million sending shares up 16.6% in pre-market trading.

 

AVI BioPharma, Inc. (NASDAQ:AVII)

The biopharmaceutical company announced it has been granted a patent for the use of RNA based therapeutics as antibacterial agents. Shares gained 5.2% in pre-market trading.

 

Talbots Inc (NYSE:TLB)

Shares of the apparel retailer fell 11.6% in pre-market trading after the company posted mixed second-quarter results. The company reported earnings excluding items of 14 cents per share, beating estimates of five cents per share, while revenue of $300.7 million missed expectations of $313.85 million.

 

Angiodynamics Inc (NASDAQ:ANGO)

The medical device company projected first-quarter earnings below current expectations now saying earnings will be between seven and eight cents per share. Analysts had estimated earnings of ten cents per share. Shares were down 12.1% in pre-market trading.

 

CPI International Inc. (NASDAQ:CPII)

The company announced it has mutually terminated its merger agreement with Comtech Telecommunications Corp and has paid a $15 million termination fee. Shares slipped 9.3% in pre-market trading.