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
Stitch Fix, an online personal styling service, has filed for its initial public offering on Nasdaq, expecting to raise $100 million. The company, which was founded in 2011 by Katrina Lake, is reportedly seeking a valuation of up to $4 billion in the IPO. The proposed NASDAQ trading symbol is "SFIX". Play and entertainment company Hasbro, Inc. reported Monday higher profit in its third quarter, benefited by strong revenues in all regions. Both earnings and topline beat market estimates. The improvements were partly offset by negative impact of the Toys"R"Us bankruptcy in the U.S. and Canada. Looking ahead, the company projects higher revenues for the fourth quarter. Dutch consumer electronics giant Philips Electronics NV reported Monday lower attributable net income in its third quarter, while pre-tax income increased. Sales were flat on a reported basis, but grew 4 percent on a comparable basis mainly on growth in China. Further, the company said its outlook for 2017 remains unchanged despite ongoing global uncertainties.
comments powered by Disqus
Follow RTT