Genzyme, Verizon: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Genzyme ( GENZ) jumped in after-hours action following a report that the company is once again talking to Sanofi Aventis ( SNY) about a potential merger.

Citing people familiar with the situation, the Wall Street Journal said the companies are back at the bargaining table, negotiating terms on a transaction that could value Genzyme shares as high as $80 each.

Genzyme's stock was last quoted at $74.25, up 4.1%, on volume of around 380,000, according to Nasdaq.com. The shares finished the regular session at $71.39, down 17 cents, and gained almost 40% in 2010.

The Journal report said the $80 per share price being bandied about would be contingent upon Genzyme hitting certain performance milestones. Sanofi's previous bid for Genzyme topped out at $69 per share, which Genzyme's board rejected as too low back in October.

Verizon Communications

Dow component Verizon Communications ( VZ) was on the rise in extended action on Friday on speculation the company plans to hold an event next week in New York to announce its plans to begin selling Apple's ( AAPL) iPhone, news that will officially end AT&T's ( T) exclusivity with the device.

Verizon shares were last quoted at $36.72, up 2.2%, on volume of almost 625,000. The stock rose roughly 14% in 2010, and for the most part analysts recommend biding time at current levels with 20 of the 36 analysts covering the shares at hold, and their median 12-month price target sitting at $34, more than 10% below the levels being seen in the after-hours session.

Shares of Apple edged up 0.6% to $338.25 on late volume of 271,000, according to Nasdaq.com. The stock remains one of Wall Street's most beloved issues despite rising almost 60% in the past 52 weeks. Of the 57 sell-side analysts covering the shares, 52 are either strong buy (29) or buy (23). Their median 12-month price target on the stock, which has a forward price-to-earnings multiple just shy of 15X, is $375, implying upside of more than 10% from current levels.

-- Written by Michael Baron in New York.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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