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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
Shares of Deutsche Bank AG are gaining more than 9 percent in pre-market activity on Wednesday following media reports that the German lender is considering buying back several billion euros of its senior bonds. The recovery in the bank's share price comes after two days of falls amid a broader rout of bank stocks due to concerns over their profitability and troubled loans. Time Warner Inc. (TWX) reported a profit for the fourth-quarter of 2015 that increased 19.4% from last year. But, quarterly revenues decreased about 6% from the prior year, due to a decline at Warner Bros., partially offset by increases at Home Box Office and Turner. The company increased its regular quarterly dividend by 15% to $0.4025 per share. Breakfast and snack food giant Kellogg Co. (K) continues to make great progress with its productivity initiatives. Hence, it remains confident in meeting its long-term targets for currency-neutral comparable net sales and operating profit growth in 2016 and beyond. However, negative currency translation impact that prevailed in the last few quarters is expected to continue in the fourth quarter.
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