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Pre-market Movers For March 29 (BBY, LORL, PSS, RHT, ILMN, SHLD, MAPP, RIMM)

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Gainers:

Best Buy Co., Inc. (BBY: Quote) is rising 4 percent to $27.60. The company has slipped to a loss in its fourth quarter, but adjusted earnings per share were above Wall Street view.. Adjusted revenue rose 3 percent, but was below consensus. The company also announced that it is taking significant actions to lower its cost base. Comparable store sales for the quarter declined 2.4 percent.

Loral Space & Communications Ltd. (LORL: Quote) is rising over 4 percent to $83.00. The company has declared a special dividend of $13.60 per share for an aggregate dividend of up to $421 million.

Collective Brands Inc. (PSS: Quote) is gaining 14 percent to $21.00. The company's fourth quarter loss widened from the previous year, but was lesser than what analysts' had estimated. Net sales were above Wall Street estimate.

Red Hat, Inc. (RHT: Quote) is gaining over 9 percent to $56.25. The company's fourth quarter profit increased 7 percent from the prior year quarter. Both earnings per share, excluding items, and revenue were above analysts' expectations.

Illumina, Inc. (ILMN: Quote) is gaining over 2 percent to $51.15. Roche Holding AG (RHHBY.PK) boosted its offer price for the company to $51 per share. Roche's new offer represents a 15 percent premium to initial offer of $44.50 a share on January 25. Illumina, which repeatedly rejected Roche's offer, urged its stockholders not to take any action until it reviews the revised offer.

Sears Holdings Corp. (SHLD: Quote) is rising 5 percent to $72.62.

Decliners:

MAP Pharmaceuticals Inc. (MAPP: Quote) is falling 4 percent to $15.51. The company's fourth quarter net loss narrowed from the last year, but was bigger than what analysts' had expected.

Research In Motion Ltd. (RIMM: Quote) is falling over 1 percent to $13.46. The company is slated to report its fourth quarter results today.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that it swung to a second quarter loss, hurt by higher costs and expenses even as revenue surged 47%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast.
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