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

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
American Airlines Group said pilots at its subsidiaries American Airlines and US Airways, represented by Allied Pilots Association, have approved a new five-year contract which provides immediate pay raises of 23 percent and subsequent annual raises of three percent for the next five years. LEGO Group, TT Games and Warner Bros. Interactive Entertainment have announced their 2015 slate of video games, including LEGO Jurassic World, LEGO Marvel's Avengers, and as well as new hand-held and mobile titles. Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook.
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