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ONXX stumbles, LSCP up

>>Premarket Movers: Onyx Stumbles
Monday June 5, 9:28 am ET

Onyx Pharmaceuticals Shares Fall Premarket on Competition Concerns; Oil Companies Edge Up

NEW YORK (AP) -- Onyx Pharmaceuticals Inc. shares dropped before the opening bell Monday on fears the drug company could be hurt by new drugs introduced by rivals Pfizer Inc. and Wyeth for the treatment of kidney cancer.

Shares of Onyx fell $2.01, or 10 percent, to $17.81 on the INET electronic exchange, after closing at $19.82 on the Nasdaq Friday.

Prudential analyst Jazon Zhang lowered his price target on Onyx after Pfizer Inc. and Wyeth introduced studies at a weekend conference that he saw as bringing increased competition to Onyx.

Pfizer shares rose 23 cents to $24.42 after closing at $24.19 on the New York Stock Exchange Friday.

Medical device supplier Laserscope Inc. shares surged after American Medical Systems Holdings Inc. announced it would acquire the company for about $715 million. Shares of the San Jose, Calif.-based urological medical device supplier rose $9.26, or 43.3 percent, to $30.67 after closing at $21.41 on the Nasdaq on Friday... <<

http://biz.yahoo.com/ap/060605/premarket_movers.html?.v=1