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Pre-market Movers For March 27-WAG, MKC, ISTA, APOL, DG, MAPP, SCMF, TRGT, ZSTN

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3/27/2012 8:46 AM ET

Gainers:

Walgreen Co. (WAG: Quote) is rising 3 percent to $35.43. The company's second quarter profit declined from the previous year. However, earnings per share and sales were above Wall Street view.

McCormick & Company, Inc. (MKC: Quote) is rising 1 percent to $53.50. The company's first quarter profit declined from the previous year. Net sales grew 16 percent. Both earnings per share and sales were above analysts' estimates.

ISTA Pharmaceuticals, Inc. (ISTA: Quote) is gaining nearly 8 percent to $9.03. Bausch + Lomb has agreed to acquire the company for about $500 million or $9.10 per share in cash.

Decliners:

Apollo Group Inc. (APOL: Quote) is falling 6 percent to $40.55. The company swung to a profit in its second quarter. Earnings per share, excluding items, and revenue were above Wall Street view.

Dollar General Corp. (DG: Quote) is falling over 1 percent to $46.50. The company announced a secondary public offering of 25.0 million common shares by certain existing shareholders.

MAP Pharmaceuticals, Inc. (MAPP: Quote) is plunging 16 percent to $14.40. The FDA has issued a Complete Response letter to the company's NDA for orally inhaled investigational migraine drug LEVADEX.

Targacept, Inc. (TRGT: Quote) is falling 5 percent to $5.12. The company announced that it will not pursue further development of TC-6987 as a treatment for diabetes, as the primary outcome measure, change in fasting plasma glucose, was not met in the type 2 diabetes study.

Trading halt:

Trading in shares of Southern Community Financial Co (SCMF: Quote) was halted. Capital Bank Financial Corp., parent of Capital Bank, N.A., announced that it has signed a definitive agreement to acquire 100% of the stock of the company for $2.875 per share.

Trading in shares of ZST Digital Networks, Inc. (ZSTN: Quote) was halted.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
Stocks are turning in a lackluster performance in morning trading on Monday after showing a strong move to the upside last week. The major averages have been unable to sustain any significant moves, bouncing back and forth across the unchanged line. Leading U.S. economic indicators showed continued improvement in the month of March, according to a report released by the Conference Board on Monday, with the leading economic index rising by slightly more than expected. The Conference Board said its leading economic index rose by 0.8 percent in March after climbing by 0.5 percent in February. Healthcare products maker Kimberly-Clark Corp. (KMB) said that its first-quarter net income attributable to the company rose to $538 million from the prior year's $531 million, with earnings per share improving to $1.41 from $1.36 last year. Adjusted earnings for the quarter were $1.48 per share,...
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