US STOCKS-Tekmira Pharma, AbbVie among premarket actives

Tue Sep 23, 2014 8:25am EDT
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* Futures off: Dow 44 pts, S&P 6 pts, Nasdaq 14.5 pts

By Chuck Mikolajczak

NEW YORK, Sept 23 (Reuters) - U.S.-listed shares of Tekmira Pharmaceuticals were climbing on Tuesday, up 8.9 percent at $25.70 as one of the most actively trades Nasdaq stocks as its Ebola drug will be one of several to be tested in West Africa in a bid to win fast-track trials.

Volume of nearly 170,000 places the stock among the top three most actively traded shares on the Nasdaq before the opening bell and represents about 5 percent of its 10-day average.

Tekmira shares rose more than 17 percent on Monday after U.S. and Canadian regulators authorized the use of its Ebola treatment in patients who have confirmed or suspected infections from the deadly virus.

Shares of AbbVie were down 4.6 percent at $55.99 in premarket trading after the Obama administration took several actions late Monday that will reduce the tax benefits available to companies that have done inversion deals, while also making new inversions more difficult to do and potentially less rewarding.

Consolidated volume of nearly 400,000 made AbbVie the most actively traded issue on the New York Stock Exchange and represented about 3.1 percent of its 10-day average.

AbbVie has agreed to a deal to acquire Shire, which fell 5.5 percent and was also among the most actively traded Nasdaq names.

U.S. stock index futures were moving lower on Tuesday, putting the S&P on track for a third straight decline, as conflict in the Middle East intensified and after the U.S. Treasury moved to curb "tax inversion" deals.   Continued...