Pre-Market Gappers

In reaction to strong earnings/guidance: HITK +6.7%... M&A news: GEHL +114% (to be acquired by Manitou for $30/share); NCEM +35% (to be acquired for $13.37 per share by Calypso Acquisition Corp), UST +1.0% (confirms it will be acquired by Altria for $69.50 per share in cash)... Financials, homebuilders and other mortgage related stocks are trading sharply higher on the Treasury's plan to take control of FNM & FRE: WM +24.1% (announces new CEO and Memorandum of Understanding with the Office of Thrift Supervision), PMI +22.9%, SCA +20.4%, BBX +19.5%, ABK +16.2%, NLY +15.5%, RDN +14.8%, RF +14.6% (also upgraded at FBR), UCBH +13.2%, WB +13.1%, TGIC +12.2%, CMO +11.5%, HOV +10.9%, BZH +10.8%, AIG +10.8%, C +9.5%, TOL +8.3%, LEH +7.4% (LEH in fresh shake-up of top executives - FT.com, ests also cut at Oppenheimer), MER +6.7% (ests cut at Oppenheimer), GS +4.9% (ests cut at Oppenheimer), etc... Other news: BPAX +14.7% (announces positive oral contraceptive clinical results), DFS +5.5% (profiled in Barron's Online), RIMM +4.2% (upgraded at Morgan Keegan).