Early Hour Biggest Stock Movers (GENZ, CBE, VZ)

Genzyme Corporation (NASDAQ:GENZ) rose 0.10% to $70.22 after the company announces the approval of Synvisc (hylan G-F 20; 3 x 2 mL) by Japan’s Ministry of Health, Labour and Welfare. Synvisc is indicated in the treatment of osteoarthritis of the knee.

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Genzyme has entered into an agreement with Teijin Pharma Limited to commercialize Synvisc in Japan. Under the terms of the agreement, Teijin Pharma has exclusive commercialization rights for Synvisc in Japan, and will pay certain milestone payments and a predetermined supply price for the product.

GENZ plans to launch Sunvisc in Japan by the end of 2010.

Cooper Industries plc (NYSE:CBE) rose 1.56% to $47.46 after the company raised its third quarter sales volume outlook.

The company now estimates sales to grow 6% to 8%, versus 2% to 5%, offered back in July. The company also lifted its EPS outlook to 82 - 85 cents, from a earlier 75-cent to 80-cent range.

Cooper Industries plc (Cooper), formerly Cooper Industries, Ltd., operates in two business segments: Electrical Products and Tools. It has manufacturing facilities in 23 countries. Operations in the United States are conducted by wholly owned subsidiaries of Cooper, organized by the two business segments.

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Verizon Communications Inc. (NYSE:VZ) rose 0.60% to $31.87 after over the weekend named Verizon Wireless chief Lowell McAdam as president and COO of the parent company, effective October 1. He reports to CEO Ivan Seidenberg, and becomes the obvious heir apparent for the telco’s top job.

The company also named Francis Shammo as CFO, effective November 1, replacing John Killian, who recently announced that he will retire at the end of the year.

Verizon Communications Inc. (Verizon) is a provider of communications services. Verizon operates in two segments: Domestic Wireless and Wireline. Its Domestic Wireless’s products and services include wireless voice and data services and equipment sales across the United States.

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