CELG $60.53 mild squeeze going on here premrkt on FDA Revlimid approval , stock split ...about 10mil short .
Celgene Rises on News
Wednesday December 28, 8:18 am ET
Celgene Rises on FDA OK, Stock Split and Management Shuffle; Whole Foods Jumps on S&P Inclusion
NEW YORK (AP) -- Celgene Corp. shares rose before Wednesday's market open, after the drug maker announced a regulatory drug approval, 2-for-1 stock split and management makeover.
Shares of Celgene rose $2.47, or 4.3 percent, to $59.95 on the INET electronic exchange.
ADVERTISEMENT
On Tuesday, the company said it received Food and Drug Administration approval for its Revlimid drug to treat transfusion-dependent anemia, prompting the company to lower its full-year earnings forecast on possible higher pre-launch expenses. Celgene also said Chief Executive John W. Jackson would retire in May, to be succeeded by Sol J. Barer.
Chief Financial Officer Robert J. Hugin will replace Barer as president and chief operating officer, the company said.
If the stock split is approved, Celgene shareholders will receive one additional share for every share they own as of the close of business on Feb. 17 next year, Celgene said. The stock split will boost the number of Celgene's shares to 580 million from 280 million.
Whole Foods Market Inc. also rallied in premarket activity, after financial information provider Standard & Poor's said late Tuesday it will add the natural foods retailer to its benchmark Standard & Poor's 500 index.
Whole Foods shares rose $2.57, or 3.4 percent, to $78 in premarket activity. Separately, a 2-for-1 stock split Whole Foods announced on Nov. 9 is scheduled to occur today.
Market Data 
Markets 
AI
