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Tuesday, October 20, 2009

Early-Market Movers: Novavax, Boston Scientific

By Michael Goldstein

FOXBusiness

Stock futures were pointing toward a higher opening as traders sort through a number of positive earnings reports.

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

MPS Group Inc. (MPS)

Shares of professional staffing company jumped 21% after announcing it would be acquired by Adecco SA for $13.80 per share in a cash deal totaling for $1.3 billion.

BioSante Pharmaceuticals, Inc. (BPAX)

Shares were up 14.2% in pre-market trading after announcing positive safety data after review by an independent Data Monitoring Committee in its development program for LibiGel for the treatment of treatment of hypoactive sexual desire disorder.

Novavax, Inc. (NVAX)

The pharmaceutical company announced it has initiated a clinical study of its H1N1 influenza vaccine in Mexico in collaboration with Avimex Laboratories (Avimex) and GE Healthcare. Shares were up 8% in pre-market trading.

Apple Inc. (AAPL)

Shares of Apple continued to rise after reporting fourth-quarter earnings after the close Monday, gaining 6.7% in Tuesday’s pre-market trading. The company posted earnings of $1.82 per share on $9.87 billion in revenue. Analysts had been expecting earnings of $1.42 per share on $9.2 billion in revenue.

Conn's Inc (CONN)

Shares of the specialty retailer dropped 16.8% in pre-market trading after it withdrew its earnings guidance and stated it may post a third-quarter net and might have to increase its bad debt allowance and record certain goodwill charges.

Boston Scientific Corp. (BSX)

Shares were down 9.4% after being downgraded by analysts at Wells Fargo Securities to “market perform” from “outperform.”

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