logo
Share SHARE
FONT-SIZE Plus   Neg

Pre-market Movers For March 16 (COGO, PWRD, STLD, AOB, SINA)

Gainers:

Cogo Group, Inc. (COGO) is jumping 101 percent to $3.90. The China-based company announced that its founder, CEO and Chairman, Jeffrey Kang, proposed to purchase a series of operating entities accounting for approximately 30% of the company's total assets, liabilities and revenue through his personal investment venture, Envision Global Group. The company said this transaction provides an implied share valuation of $6-$8 a share.

Perfect World Co., Ltd. (PWRD) is gaining 28 percent to $16.10. The company's fourth quarter profit and revenues surged from the prior year quarter.

Decliners:

Steel Dynamics, Inc. (STLD) is falling over 2 percent to $14.32. The company expects a year-over-year drop in its first quarter earnings, which is also below the consensus estimate.

Sina Corp. (SINA) is down over 3 percent to $71.67.

Trading halt:

Trading in shares of American Oriental Bioengineering, Inc. (AOB) was halted. The company announced a delay in the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2011, as Ernst & Young Hua Ming's audit noted certain inconsistencies. As a result, the company's Audit Committee would commence an independent investigation into the matters identified.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Facebook founder and CEO Mark Zuckerberg said he is not running for public office, amid rising speculation that his plans for traveling the U.S. indicated he is gearing up for a future presidential run. Ford Motor Co. (F) announced the replacement of President and CEO Mark Fields with Jim Hackett, who heads its automotive vehicle subsidiary. The company said, Fields, who served Ford for the last 28 years, opted to retire. Hong Kong flag carrier Cathay Pacific Airways Limited announced Monday around 600 job cuts in its head office, reportedly its biggest headcount reduction in almost twenty years. Cathay Pacific will cut around 25 percent of management roles and 18 percent of non-managerial positions at its headquarters.
comments powered by Disqus
Follow RTT