On the one-year anniversary of the Lehman Brothers collapse and following significant declines in Asian and European markets, U.S. stock futures were pointing to a lower opening Monday.
Here are some of the early-market movers.
Salix Pharmaceuticals LTD. (SLXP)
Shares of American Axle jumped 38.2% after the company announced its Rifaximin treatment for irritable bowel syndrome showed significant improvement in the condition against a placebo in third-stage trials.
ARIAD Pharmaceuticals, Inc. (ARIA)
ARIAD announced the independent Data Monitoring Committee evaluating the trial of Ridaforolimus for treatment of Metastatic Sarcomas has recommended the trial continue to full-patient enrollment and completion based on review of available safety and efficacy data. Shares of ARIAD were up 10.7% in pre-market trading.
Sprint Nextel Corp. (S)
Shares of Sprint surged 20.7% on continued reports on a takeover bid from Deutsche Telekom.
Alexza Pharmaceuticals Inc. (ALXA)
Alexza shares dropped 29.3% after announcing preliminary results from trials of Loxapine for treating migraines that trended toward statistical significance but did not meet its primary endpoint.
RF Industries LTD. (RFIL)
RF Industries released third-quarter results reporting the company broke even with $3.3 million in revenue versus earnings of 11 cents per share last year. Revenue was down 30% from $4.7 million from the same period last year and shares hares dropped 28.7% in pre-market trading.
Regeneron Pharmaceuticals Inc. (REGN)
Regeneron announced it was ending a trial of Aflibercept for the treatment of pancreatic cancer after an independent monitoring committee determined the drug would not be able to show a statistically significant increase in survival. Shares of Regeneron were down 7.4% in pre-market trading.
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