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Pre-market Movers For Feb 22 (GRMN, PWR, JNJ, TOL, DLTR, DELL, MGM, VVUS)

Gainers:

Garmin Ltd. (GRMN) is gaining 12 percent to $49.82 as its fourth quarter pro forma earnings per share and net sales were sharply above Wall Street view. In addition, the company guided 2012 results above consensus.

Quanta Services, Inc. (PWR) is rising 1 percent to $22.00. The company's fourth quarter profit jumped from the year-ago quarter. The company guided first quarter results above analysts' estimates.

Johnson & Johnson (JNJ) is up 0.22 percent to $65.18. The company announced that its Chief Executive Officer William Weldon will step down from his post in April. He will be succeeded by vice chairman Alex Gorsky as chief executive officer, while Weldon remains the chairman of the board.

Decliners:

Toll Brothers, Inc. (TOL) is falling 3 percent to $22.97. The company slipped to a loss in its first quarter. Revenues also declined from the year-ago quarter.

Dollar Tree, Inc. (DLTR) is down over 2 percent to $85.93. The company's fourth quarter profit increased from the previous year and consolidated net sales rose nearly 13 percent. Meanwhile, the company expects first quarter results below consensus.

Dell Inc. (DELL) is down over 6 percent to $17.00. The company's fourth quarter profit declined 18 percent and its earnings per share, excluding items, were below analysts' estimate. Additionally, the company expects a 7 percent sequential decline in its first quarter revenues.

MGM Resorts International (MGM) is falling 3 percent to $13.75 despite the company reporting fourth quarter loss that narrowed from the previous year period and a year-over-year increase in its consolidated net revenue.

Trading halt:

Trading in shares of VIVUS, Inc. (VVUS) was halted, pending news.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Ciena Corp., a provider of communications networking solutions, on Thursday reported a turnaround to profit in the fourth quarter on higher revenues and lower expenses. However results for the quarter missed analysts' estimates. Looking ahead, the company forecast revenue for the first quarter of fiscal 2017 in line with analysts' expectations. Wearable fitness device maker Fitbit Inc. said it has acquired the assets of struggling smartwatch startup Pebble, including key personnel and intellectual property related to software and firmware development. The acquisition excludes Pebble's hardware products. Financial terms of the deal were not disclosed. Starbucks is teaming up with Pokémon Go, a location based augmented reality game, to turn its stores into PokéStops and Gyms, reports said. Further, the coffee giant reportedly would open Italian bakeries that serve pizza, with the first store expected to open in late 2017.
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