Midday Movers: Peregrine Systems, Alcoa, Juniper Communications and i3 Mobile

Proof positive that completing the sequencing of the human gene is good for a company's stock: Celera Genomics (CRA Quote) surged 27, or 23.5%, to 142 and helped boost biotechnology sector shares. Celera Genomics was the volume leader on the NYSE at midday.

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This morning, investment firm Goldman Sachs announced that its "Super Seven" list of hot high-tech stocks include: Cisco (CSCO Quote), Dell (DELL Quote), EMC (EMC Quote),First Data (FDC Quote), Oracle (ORCL Quote), PMC-Sierra (PMCS Quote) and Teradyne (TER Quote).

The news boosted the companies' stocks this afternoon: Cisco advanced 1/2 to 72 5/8; Dell climbed 1 41/64 to 55 9/16; EMC lifted 5 15/16 to 132 7/16; First Data gained 3 1/16, or 7.2%, to 45 13/16; Oracle rose 3 3/8 to 81 11/16; PMC-Sierra jumped 12 3/4, or 7.5%, to 183 9/16; Teradyne hopped 8, or 9.2%, to 95.

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Mergers, acquisitions and joint ventures

Peregrine Systems (PRGN Quote), a provider of infrastructure management software, sunk 19 1/4, or 33.2%, to 38 3/4 after it said it signed a definitive pact to acquire Harbinger (HRBC Quote) in a stock deal valued at $2.1 billion. Harbinger provides business-to-business e-commerce delivery solutions. The deal is structured as a stock swap at a ratio of 0.75 share of Peregrine common stock for each share of Harbinger. Peregrine was cut to market performer from buy at Donaldson Lufkin & Jenrette. ...