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

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet video service Sling TV, on Wednesday said HBO would be available in time for the "Game of Thrones" and "Silicon Valley" season premieres on April 12, but did not specify a launch date. Memory chip maker Micron Technology, Inc. said Wednesday after the markets closed that its second quarter profit rose 28% from last year, helped by higher sales and lower income tax expenses. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly sales. Apple Watch is expected to post robust sales in the first weekend after its launch on April 24. A craze for Apple Watch may catapult the smartwatch industry into a lucrative market, while a not-so-impressive response for the Apple device may weigh on the industry.
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