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10 Stocks to Watch: PTIE, PFE, SUG

NEW YORK ( TheStreet) -- U.S. regulators rejected Thursday a tamper-resistant painkiller from Pfizer (PFE - Get Report) and Pain Therapeutics (PTIE), according to U.S. Food and Drug Administration spokesperson Shelly Burgess.

Pain Therapeutics shares were tanking by 32.3% to $6.26, while Pfizer shares were down 0.5% to $20.55.

Southern Union (SUG) soared in premarket trading after receiving an all-cash buyout proposal from Williams (WMB) that values the natural gas pipeline company at $4.9 billion, or $39 a share. Southern Union shares were surging by 15.3% to $39.39.

Boise, Idaho-based Micron Technology (MU - Get Report) said it earned $75 million, or 7 cents a share, in the three months ended June 2. The average estimate of analysts polled by Thomson Reuters was for a profit of 16 cents a share. Micron shares were plummeting by 10.6% to $7.54.

Enterprise software company Blackboard (BBBB) was popping by 4.2% to $42.50 after the Wall Street journal reported that the enterprise software company is in exclusive talks to be bought by Providence Equity Partners.

Database giant Oracle (ORCL - Get Report) earned 75 cents a share in the fourth quarter, excluding items, vs. the average analyst estimate of 71 cents a share. However, weak hardware sales pushed the company's stock down 4% to $31.15 in premarket trading.

Management consulting firm Accenture (ACN - Get Report) was spiking by 3.2% to $57.49 reporting third-quarter profit of 93 cents a share vs. the average analyst estimate of 90 cents a share.

Medical device company Boston Scientific (BSX - Get Report) was falling 1.4% to $6.99 on news that it was downgraded to neutral from buy at UBS.

Biopharmaceutical company Aegerion Pharmaceuticals (AEGR - Get Report) said 4.25 million common shares were priced at $15.50 a share. Shares were down 1% to $15.40.

Some of the biggest U.S. states have started antitrust investigations into internet search giant Google (GOOG), adding to the mounting regulatory pressure on the search company as federal authorities move closer to a full-blown inquiry of their own, the Financial Times reported.

Shares were trading sideways at $480.

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-- Written by Andrea Tse in New York.

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Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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AEGR $28.02 2.04%
ACN $90.91 0.08%
BSX $16.79 0.18%
GOOG $573.37 -0.05%
MU $29.26 -1.33%


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