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  • Stocks Popular for Monday | ArcSight Inc. | PG&E Corporation | Seattle Genetics, Inc. | Genzyme Corp.|

    arcsight official LOGO
    Monday Sept 13, 2010, 09:18 am EST
     
    Stocks Popular on Monday Sept 13, 2010 -  ARST, PCG, SGEN, GENZ
     
    Dear Traders,
    Sign up for Daily alerts directly to your inbox.
    Hot Stocks to Watch Monday 09/13/2010  are
    ARST- ArcSight Inc.
    PCG- PG&E Corporation
    SGEN- Seattle Genetics, Inc.
    GENZ- Genzyme Corporation


    ARST - ArcSight Inc. (NASDAQ:ARST)
    Hewlett-Packard Co. (HPQ) has agreed to buy ArcSight Inc. (ARST) for about $1.5 billion, as confirmed by Wall street Journal on Sunday. This is the second deal by HPQ after CEO Hurd left the company. Hewlett Packard (HPQ) is paying $43.50 a share, a 24% premium to Friday's closing price for Arcsight. H-P's executive vice president of software and solutions, Bill Veghte, said "The combination of H-P and ArcSight will provide clients with the ability to fortify their applications, proactively monitor events and respond to threats,"
     
    PCG-PG&E Corporation (NYSE:PCG)
    PG&E Corp. (PCG ) shares will remain under pressure as regulators  are investigating the cause of a natural gas pipeline explosion in San Bruno, Calif., that killed at least four people and destroyed or damaged more than 40 homes. PCG has had a bad track record for safety measures and regulators are more strict now after the BP incident. PCG lost 8% in stock market cap on Friday.


    SGEN- Seattle Genetics, Inc. (NASDAQ:SGEN)
    Seattle Genetics, Inc. (Nasdaq:SGEN) today announced that its phase IIb clinical trial of lintuzumab (SGN-33) in older patients with acute myeloid leukemia (AML) did not meet its primary endpoint of extending overall survival. Lintuzumab is a naked monoclonal antibody that targets the CD33 antigen. As a result of the outcome of this trial, the company will discontinue its development program for lintuzumab. surprisingly the shares of the company still look stable in the pre market.

    GENZ- Genzyme Corporation (NASDAQ:GENZ)

    Genzyme Corp.(GENZ), said on Friday after market close that it will eliminate 1,000 jobs, which is about 10 percent of the workforce, over the next 15 months to save money. Also early Monday morning, Genzyme Corporation announced that it has entered into an asset purchase agreement under which Laboratory Corporation of America Holdings (LabCorp) will acquire Genzyme Genetics for $925 million in cash. Under the terms of the agreement, LabCorp will purchase the business in its entirety, including all testing services, technology, intellectual property rights, and its nine testing laboratories. Genzyme has recently rejected a takeover bid from Sanofi saying that the bid was too low to discuss. Shares are stable in teh pre market.

     

    God Bless,
    Be Rich.


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