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Pre-market Movers For March 23 (NKE, KBH, PHM, ZNGA, KORS, LAYN, GOLD, PCTI)

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Gainers:

NIKE, Inc. (NKE: Quote) is up 0.49 percent to $111.53. The company's third quarter profit increased 7 percent and earnings per share were above Wall Street view. Revenues for the third quarter rose 15 percent.

Decliners:

KB Home (KBH: Quote) is falling 11 percent to $9.97. The company's first quarter loss narrowed from the previous year, but was notably wider than what analysts' had estimated. Revenues rose 29 percent, but were below Wall Street view.

PulteGroup, Inc. (PHM: Quote) is down nearly 5 percent to $8.74. The Labor Department reportedly has stepped up pressure on the company amid an investigation into the housing industry's pay practices.

Zynga Inc. (ZNGA: Quote) is falling 3 percent to $13.35. The company disclosed that certain stockholders are offering 42.97 million shares of Class A common stock.

Michael Kors Holdings (KORS: Quote) is declining 4 percent to $46.90. The company announced the pricing of the secondary offering of 25 million ordinary shares by certain selling shareholders at $47.00 per share.

Layne Christensen Co. (LAYN: Quote) is falling 14 percent to $19.30. Including an impairment charge, the company expects a loss for its fourth quarter. In addition, the company guided fiscal 2012 earnings per share below consensus.

Randgold Resources Limited (GOLD) is declining nearly 5 percent to $86.31.

Trading halt:

Trading in shares of PC-Tel, Inc. (PCTI: Quote) was halted. The company lowered its first quarter revenue guidance, citing carrier spending delays, which pulled down order flow for its scanning receiver product line to approximately 60 percent of the historical run rate.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
After turning in a lackluster performance for much of the session, stocks managed to end Wednesday's trading mostly higher. The gains lifted the Dow and the S&P 500 to new record closing highs, while the Nasdaq reached its best levels since 2000. Half of Americans agree with the changes to immigration policy announced by President Barack Obama last week, according to a CNN/ORC poll, although a majority opposes using executive orders to implement those policies. While Mitt Romney has said he has no plans to run for president again, the results of a Quinnipiac University national poll released Wednesday show the former Massachusetts Governor leading a group of potential Republican presidential candidates.
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