Pre-market Movers For Oct 1 (MRK, NFLX, LXRX, MYGN, WAG, OLED)

(RTTNews) - Gainers:

Merck & Co. Inc. (MRK) is up 3 percent to $48.96. The company announced a global initiative to sharpen its commercial and research and development focus, including new workforce reductions of about 8,500 positions. The company expects to realize approximately $2.5 billion in annual net cost savings by the end of 2015. The company also backed its full-year 2013 non-GAAP earnings per share target range.

Netflix, Inc. (NFLX) is up 2 percent to $314.90.

Lexicon Pharmaceuticals, Inc. (LXRX) is gaining 24 percent to $2.96. The company announced that its dual inhibitor of sodium glucose transporters 1 and 2, LX4211, in a study of patients with type 2 diabetes and moderate to severe renal impairment, met the primary endpoint of reducing post-prandial glucose.

Myriad Genetics Inc. (MYGN) is rising 11 percent to $26.20. The company announced that the Centers for Medicare & Medicaid Services released finalized pricing for the new molecular pathology codes for 2014 and beyond.

Decliners:

Walgreen Co. (WAG) is down 0.50 percent to $53.55. The company's fourth quarter profit surged from the prior year period and its adjusted earnings per share topped Street view. Quarterly sales climbed by 5.1 percent year-on-year.

Universal Display Corp. (OLED) is down 8 percent to $29.33.