Stock futures were pointing to a slightly lower open following Tuesday’s Fed warnings of a slowing recovery and inflation concerns.
Here are some of the early market-movers for Wednesday.
Origin Agritech Limited (NASDAQ:SEED)
Subsidiary Origin Biotechnology announced it reached an agreement with the Chinese Academy of Agricultural Sciences to jointly own the rights to the Bacillus thuringiensis bacterium developed to be toxic to certain insects. Shares were up 7.9% in pre-market trading.
Vivus Inc. (NASDAQ:VVUS)
The biopharmaceutical company released positive data for a trial of its Qnexa anti-obesity drug late Tuesday sending shares up 6.1% in pre-market trading Wednesday.
Vical Inc (NASDAQ:VICL)
French pharmaceutical company Sanofi-Aventis announced that experimental drug NV1FGF for treating limb ischemia failed in a late-stage trial. The drug was originally developed by Vical which received an initial payment of $1 million. Vical shares were down 33.9% in pre-market trading.
Adobe Systems (NASDAQ:ADBE)
Shares of the software company were down 20.4% in pre-market trading despite beating third-quarter expectations. The company issued fourth-quarter guidance below current expectations however which sent the stock lower.
Winthrop Realty Trust (NYSE:FUR)
Shares of the REIT slipped 9.4% in pre-market trading after announcing it plans to off 3 million new shares.
PMC-Sierra Inc (NASDAQ:PMCS)
The semiconductor company lowered its third-quarter guidance below current estimates and now expects revenue between $161 million and $163 million. Analysts currently estimate revenue of $173.36 million. Shares were down 7.5% in pre-market trading.