MARKET PULSE- Savient Pharmaceuticals, Teradata, Microsoft, Omnicom

Tue Oct 15, 2013 7:45am EDT
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter,

** SAVIENT PHARMACEUTICALS INC, Monday close $0.57, down 30 pct premarket

The U.S. biotech firm filed for Chapter 11 bankruptcy protection in a Delaware court on Monday and said it has agreed to sell most of its assets to Sloan Holdings CV for about $55 million. The agreement with Sloan, a unit of US WorldMeds LLC, would serve as a "stalking horse" bid in a court-supervised auction of Savient's assets, the company said.

** TERADATA CORP, Monday close $52.58, down 15 pct premarket

The data analytics firm cut its full-year earnings forecast by about 10 percent on Monday after preliminary third-quarter results missed estimates on the back of sliding revenue.

** MICROSOFT CORP, Monday close $34.45, up 1 pct premarket   Continued...