Tomahawk, WI 4/19/2012 (StreetBeat) -- Human Genome Sciences (HGSI) shares soared 110% to $14.36 on news that GlaxoSmithKline PLC (GSK) has offered $13 a share for the biotech group. Human Genome said that the bid is too low and that it has hired Goldman Sachs and Credit Suisse to help it evaluate other options, which could include a sale. Human Genome added that it has invited development partner Glaxo to participate in the process.Mellanox Technologies (MLNX) shares shot up 25% to $54.20, after the tech company reported better-than-expected first-quarter earnings late Wednesday. The stock won buy recommendations from analysts at Mizuho and Wunderlich Securities.
Gilead Sciences (GILD) shares rallied 16% to $54.18. Gilead released promising clinical data for its hepatitis C drug candidate GS-7977, which it acquired through its recent $11 billion takeover of Pharmasset.
Cypress Semiconductor (CY) shares jumped 9% to $15.53 after it released first-quarter financial results before Thursday’s bell.
Qualcomm Inc. (QCOM) shares dropped nearly 6% to $63.30, making it the worst performer on the S&P 500 Thursday morning. The chipmaker released its quarterly earnings report late Wednesday.
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