To: richardred who wrote (392 ) 2/11/2008 9:46:13 AM From: richardred Respond to of 7260 POSS-To bad I couldn't hang in there this long. Premarket Movers: Possis Medical Jump Monday February 11, 9:19 am ET Possis Medical Soars on Sale to Bayer; Altria, Honeywell Dip on News of Removal From DJIA NEW YORK (AP) -- Shares of Possis Medical Inc. shot up in premarket trading Monday after the Minneapolis medical device maker said it would sell itself to an affiliate of German pharmaceutical company Bayer AG for about $19.50 per share in cash. Bayer's Medrad Inc. will pay a 36 percent premium over the stock's Friday closing price of $14.35. Shares rose $4.95, or 34.5 percent, to just below the offer price at $19.30 in early trading. Futures trading and the Nasdaq-100 Premarket Indicator pointed to the U.S. markets opening in positive territory Monday after a rocky week that ended with a down market Friday. Also gaining in heavy trading were shares of chip maker Axcelis Technologies Inc., which received a buyout offer from Japan's Sumitomo Heavy Industries Ltd. for $5.20 per share in cash. Shares of Axcelis, which closed at $4.04 Friday, rose $1.11, or 27.5 percent, to $5.15 premarket, just under the offer price. And shares of oil tanker Frontline Ltd. rose in the early session following an upgrade from JPMorgan Securities analyst Jonathan B. Chappell. Frontline shares gained $1.07, or 2.5 percent, to $43.40 premarket on the raise to "Neutral" from "Underweight," or "Sell." Chappell also raised his earnings estimates for the Bermuda-based company. For the upgrade, he cited record prices for fuel and an expectation that the company will keep its dividend despite a slightly weak fourth quarter. On the downside, shares of Altria Group Inc. and Honeywell International Inc. slipped in early trading on news that the companies will be removed from the bellwether Dow Jones industrial average index at the opening on Feb. 19. Removal from the Dow, which was last adjusted in 2004, will likely mean a sell-off of the stocks since mutual funds and other investment vehicles that track the index will have to adjust their portfolios to add shares of Bank of America Corp. and Chevron Altria shares lost 89 cents to $72.20 after being up earlier in the session. Honeywell shares slipped 83 cents, to $57. Bank of America added $1.09, or 2.6 percent, to $43.25 premarket, from its close at $42.16 Friday. Chevron shares gained $1.49, or 2 percent, to $80.75, from its close at $79.26.biz.yahoo.com