johnson and johnson
The pharmaceutical giant rose 2.7% after announcing it would pay $8.8 billion over the next 25 years to resolve claims that its products caused cancer. J&J has also filed for bankruptcy for its LTL Management subsidiary, saying it believes existing complaints are invalid.
Bank of Zions
Zions Bancorporation shares rose 3.3% after Baird gave the regional bank a higher rating. The firm said that the actions do not seem to be positive after the instability and the global crisis.
clean energy fuels
Shares of the company rose 3.62% after Raymond James gave Clean Energy Fuels a positive rating and gave it a $6 price target.
albermarle
Shares of the company fell 3.32% after Bank of America downgraded the chemical maker’s shares to underperform from neutral. The bank significantly lowered Albemarle’s earnings estimate and lowered its valuation to $195. The new target means shares could fall around 7%.
Weston Lamb
Shares of major potato processor Lamb Weston rose around 1%. Bank of America has placed Lamb Weston on its short-term stock pick list for the second quarter.
fedex
Shares of shipping company FedEx advanced 3.2% in premarket trading.
exelixis
Shares of biotech firm Exelixis rose 1% after reports that hedge fund Farallon Capital Management is announcing a proxy fight in Exelixis.
European markets are slightly lower
European markets were slightly lower as investor uncertainty about the economic outlook continued.
The pan-European Stoxx 600 fell 0.14% in afternoon trading. Utilities rose 1.42%, while construction and materials stocks fell 1.73%.
Bank shares pared earlier losses by 0.5%.
Asia-Pacific markets were mixed as investors awaited a key US jobs report that showed job openings fell to the weakest level in nearly two years in February.
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