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

Gainers:

NIKE, Inc. (NKE) 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) 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) 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) 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) 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) 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) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Walt Disney Co. has threatened to pull its programming from cable distributor Altice USA Inc. if the two companies are unable to reach a new deal before the end of September. The current contract between the two companies expires at the end of this month. Jaguar Land Rover, Britain's biggest car maker, is eyeing potential acquisitions of international automakers, Bloomberg reported Monday, citing people with knowledge of the matter. Jaguar Land Rover, owned by India's Tata Motors Ltd., has reportedly been holding internal discussion on acquiring other brands in order to diversify its range of vehicles. Target Corp. said Monday that it plans to raise minimum hourly wage for all its workers to $11 in October, marking its third wage increase in three years. The discount-store operator also said it is committed to increasing the minimum hourly wage to $15 by the end of 2020.
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