Savient Pharmaceuticals: Premarket Trading - TheStreet

(Premarket story updated with Savient Pharmaceuticals news and share price information.)

NEW YORK (

TheStreet

) --

Savient Pharmaceuticals

(SVNT)

said that president Paul Hamelin will continue to lead the company until it finds a new CEO.

Shares of the company are down 1.02%, or 12 cents, to $11.65 in premarket trading.

>> Savient Starts CEO Search

Capital Markets analyst Robert Norfleet upgraded engineering and construction firm

KBR

(KBR) - Get Report

to a buy rating from a hold, saying rising commodity prices will likely boost demand for its services. He set a $37 price target on the shares.

KBR shares are up 2.88%, or 89 cents, to $31.79 in premarket trading.

Biotechnology company

MannKind

(MNKD) - Get Report

has announced that the U.S. Food and Drug Administration is delaying a decision on the company's diabetes drug, Afrezza. MannKind said the FDA needs about four more weeks to complete its evaluation of the inhaled insulin drug.

MannKind stock is up 0.12%, or 1 cent, to $8.24 in premarket trading.

>> Biotech Calendar: FDA Drug Approvals in 2011

Equities research analysts at Davenport raised their 2011 and 2012 earnings estimates for

Alcoa

(AA) - Get Report

on Monday to $1.12 and $1.40, respectively, from $1.05 and $1.32 on higher aluminum prices.

Alcoa shares are up 0.13%, or 2 cents, to $15.27 in premarket trading.

>>Video: Top 3 Metal Stocks for 2011

SAP

(SAP) - Get Report

has been ordered to pay interest on the $1.3 billion in damages it owes to

Oracle

(ORCL) - Get Report

. Last month Oracle was awarded $1.3 billion in damages from SAP after it sued its rival for software theft.

SAP shares are down 0.3%, or 15 cents, to $ 50.32 and Oracle shares are falling 0.44%, or 14 cents to $31.43 in premarket trading.

>> SAP Ordered to Pay Oracle Interest on Ruling

DARA Biosciences

(DARA)

announced on Tuesday it has commenced a registered direct offering to sell up to $4 million worth of units consisting of Series A preferred stock and warrants.

Shares of the Raleigh, N.C.-based drug developer are down 8.36%, or 26 cents, to $2.85 in premarket trading.

>> DARA Biosciences Looks to Raise $4M

Santarus

(SNTS)

and Dutch biotechnology firm

Pharming Group

( PHAR) have submitted a marketing approval application to the U.S. Food and Drug Administration for their anti-swelling drug, Rhucin.

Shares of Santarus rose 3.15%, or 10 cents, to close at $3.27 on Tuesday.

The price of silver has jumped 70% in 2010, boosting shares of

Hecla Mining

(HL) - Get Report

as investors seek to profit from the metal's rise. In the third quarter, the oldest silver miner in America produced 2.7 million ounces of silver for negative cash costs of $1.01 an ounce.

Shares of the company are climbing 1.16%, or 13 cents, to $11.37 in premarket trading.

>> Silver Miner Delivers Explosive Profits

-- Written by Theresa McCabe in Boston.

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RELATED STORIES:

>> Biotech Calendar: FDA Drug Approvals in 2011

>>Video: Top 3 Metal Stocks for 2011

>> Savient Starts CEO Search

>> SAP Ordered to Pay Oracle Interest on Ruling

>> DARA Biosciences Looks to Raise $4M

>> Silver Miner Delivers Explosive Profits

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