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Pre-market Movers For Feb 23 (VVUS, TGT, SHLD, ARNA, HPQ, CKP, CHTP)

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2/23/2012 8:46 AM ET

Gainers:

Target Corp. (TGT: Quote) is up 0.06 percent at $53.00. The company's fourth quarter profit declined from the year-ago quarter. However, adjusted earnings per share were above Wall Street view. Total revenues improved 3 percent and were slightly above consensus. The company's first quarter and 2012 earnings per share guidance was above estimates.

VIVUS, Inc. (VVUS: Quote) is jumping 103 percent to $21.45 based on the news that a FDA panel has recommended approval of its lead obesity drug Qnexa. The Endocrinologic and Metabolic Drugs Advisory Committee has voted 20 to 2 while recommending that Qnexa be granted marketing approval to treat obesity in adults.

Sears Holdings Corp. (SHLD: Quote) is up 2 percent to $53.10. The company announced its intention to separate its Sears Hometown and Outlet Businesses and certain hardware stores through a proposed rights offering that is expected to raise approximately $400 million to $500 million. Meanwhile, the company slipped to a loss in its fourth quarter and also reported a 3.4 percent domestic comparable store sales decline.

Arena Pharmaceuticals, Inc. (ARNA: Quote) is up 19 percent at $2.16.

Decliners:

Hewlett-Packard Co. (HPQ: Quote) is down 3 percent to $28.10. The company's first quarter earnings declined 44 percent from the year-ago quarter. The company's earnings per share, excluding items, were above analysts' expectations, but revenue was below consensus.

Checkpoint Systems, Inc. (CKP: Quote) down over 3 percent to $11.50. The company slipped to a loss in its fourth quarter and its adjusted loss per share was larger than what analysts' had estimated. The company said the ongoing global economic uncertainty and unpredictable retailer behavior impacted its 2011 results and remain a concern near-term.

Trading halt:

Trading in shares of Chelsea Therapeutics International (CHTP: Quote) was halted, pending news.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Starbucks Corp. said Thursday after the markets closed that its second quarter profit rose 9.4% from last year, helped by higher revenue. The company's quarterly earnings per share came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. The world's largest specialty coffee retailer also raised its full year earnings outlook. Software giant Microsoft Corp. said Thursday after the markets closed that its third quarter profit fell 6.6% from last year, when results were boosted by special upgrade offer revenues. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
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