Yahoo! Inc. (YHOO) is up more than 2 percent to $16.18. There were reports that China's Alibaba Group Holding Ltd. plans to borrow $3 billion to buy back the 40% stake that Yahoo Inc. owns in the company. Trading in shares of Alibaba Group's unit, Alibaba.com Ltd. was suspended in Hong Kong, pending clarification of speculation in relation to a transaction involving the controlling shareholder of the company.
Taleo Corp. (TLEO), a provider of cloud-based talent management, is jumping over 16 percent to $45.50 based on the news that Oracle (ORCL) has agreed to buy the company for $46.00 per share or approximately $1.9 billion, net of cash and debt.
Bunge Lltd. (BG) is up more than 1 percent to $60.77 as its fourth quarter earnings per share and net sales were above Wall Street view. However, the company's profit declined from the prior year period, despite 29.2 percent growth in sales.
Urban Outfitters, Inc. (URBN) is up more than 2 percent to $27.75. The company's fourth quarter sales improved 9 percent, but were below consensus. Comparable retail segment net sales, which include the direct-to-consumer channels, increased 2 percent for the quarter, while comparable store net sales decreased 1 percent.
PepsiCo, Inc. (PEP) is falling nearly 2 percent to $65.50. The company's fourth quarter profit and revenue improved from the prior year period. Core earnings per share and revenue were above consensus. The company also announced plans to cut 8,700 jobs, representing nearly 3 percent of its global workforce. The company also announced plans to increase advertising and marketing support behind its global brands by $500 million - $600 million in 2012, with particular focus on North America.
Credit Suisse Group AG (CS) is falling 3 percent to $26.80 as the company slipped to a loss in its fourth quarter. Revenues declined 64 percent and also incurred a pre-tax loss of 1.31 billion francs in its Investment Banking segment.
TripAdvisor, Inc. (TRIP) is plunging 16 percent to $28.75. The company's GAAP profit for the fourth quarter rose 19 percent from the prior year period. Revenues increased 30 percent, but were sharply below consensus.
Groupon Inc. (GRPN) is falling 11 percent to $21.90. The company's fourth quarter net loss narrowed from the previous year period, while analysts' had estimated the company to report a small profit for the quarter. Revenue surged from the year-ago period. The company guided first quarter revenue to improve in the range of 73 percent to 86 percent.
iRobot Corp. (IRBT) is declining over 22 percent to $29.58. The company's fourth quarter profit rose from the prior year quarter and were above analysts' estimate. Revenue improved 15 percent, but were below consensus. The company also guided first quarter and fiscal 2012 results sharply below Wall Street view.
Diamond Foods, Inc. (DMND) is plunging 40 percent to $22.07. The company announced that its financial statements for the fiscal years 2010 and 2011 will need to be restated. The company added that Audit Committee investigation identified material weaknesses in its internal control over financial reporting. The company also announced appointment of a new Chief Executive Officer and Chief Financial Officer.
Trading in shares of NeurogesX Inc. (NGSX) was halted. The Anesthetic and Analgesic Drug Products Advisory Committee (AADPAC) will meet today to review the company's sNDA for Qutenza (capsaicin) 8% patch for the management of pain due to HIV-associated peripheral neuropathy.
Trading in shares of Astex Pharmaceuticals, Inc. (ASTX) was halted.
by RTT Staff Writer
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