Stocks in the news: Genentech, Freddie Mac, General Electric

Genentech (DNA) -- Swiss pharmaceutical giant Roche said Thursday it has agreed to buy Genentech for $46.8 billion. Genentech's board approved and recommended the deal, which offers $95 per share for the 44 percent of Genentech that Roche Holding AG doesn't already own. The combined company would be the seventh-largest U.S. pharmaceutical company in terms of market share, would generate about $17 billion in annual revenues, and have around 17,500 employees in the U.S. pharmaceuticals business alone, according to Roche. DNA shares are up 2.4 percent in premarket trade.

Freddie Mac (FRE) said Wednesday it will ask the government for nearly $31 billion in additional aid to stabilize the housing market, after posting a gargantuan loss of more than $50 billion last year due to the worsening U.S. housing market. The mortgage finance company posted a loss of $23.9 billion, or $7.37 per share, in the fourth quarter of 2008 alone. FRE shares are down 5 percent in premarket trade.