US STOCKS-RadioShack, Tekmira among biggest premarket movers

Fri Oct 3, 2014 7:46am EDT
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By Ryan Vlastelica

NEW YORK Oct 3 (Reuters) - RadioShack Corp was one of the biggest movers in premarket trading Friday, jumping after Bloomberg reported that the troubled electronics retailer had reached a refinancing deal with Standard General.

In the agreement, about $590 million of loans would be refinanced for the company to re-stock ahead of the holiday season, Bloomberg reported. RadioShack last month said it may need to file for bankruptcy protection if its cash situation worsens.

The stock advanced nearly 60 percent to $1.57, putting it on track for its biggest one-day advance in a history that goes back to 1980. It has lost about 62 percent this year.

U.S. shares of Tekmira Pharmaceuticals Corp were also higher before the bell, up 7 percent to $27.25 a day after it said it had achieved a $1.5 million development milestone. In addition, Maxim raised its price target on the stock to $31 from $23.

The stock is up 17 percent this week, moving in heavy volume after the first diagnosis of a patient with Ebola in the United States. The company has an Ebola treatment in its pipeline.

Futures snapshot at 0741 EDT:

* S&P 500 e-minis were up 9.25 points, or 0.48 percent, with 125,587 contracts changing hands.

* Nasdaq 100 e-minis were gaining 16.75 points, or 0.42 percent, in volume of 18,913 contracts.

* Dow e-minis were up 70 points, or 0.42 percent, with 18,223 contracts changing hands. (Editing by Bernadette Baum)