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
An Illinois woman has filed a lawsuit against Starbucks accusing that the coffee retail giant is misleading customers by "underfilling" its cold beverages. According to the plaintiff, Starbucks is cheating customers by serving cold coffees with too much ice cubes and less coffee than advertised, "often... GNC Holdings Inc. (GNC) Monday said it has commenced a strategic review that could lead to potential sale of the company. Shares of GNC Holdings gained over 4 percent after the vitamins and health supplement retailer said it has hired Goldman Sachs and Wachtell, Lipton, Rosen & Katz to advise on... Workers at a giant construction company in Saudi Arabia have set fire to several company buses amid protests at being laid off and not being paid wages for several months. Employees at the Saudi Binladin Group set fire to company buses and staged demonstrations within the Mecca region in recent weeks after the company, one of Saudi Arabia's largest employers, laid off 50,000 foreign employees.
comments powered by Disqus
Follow RTT