(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.
Capital Markets analyst Robert Norfleet upgraded engineering and construction firm KBR ( KBR) 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) 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.
Equities research analysts at Davenport raised their 2011 and 2012 earnings estimates for Alcoa ( AA) on Monday to $1.12 and $1.40, respectively, from $1.05 and $1.32 on higher aluminum prices.