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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
Nike Inc., the world's largest athletic shoes and apparel maker, said Thursday after the markets closed that its second quarter profit rose 23% from last year, helped by higher revenue and improved gross margin. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. Citing extreme fluctuation of the ruble, Apple Inc. (AAPL) has reportedly discontinued its online sales of products in Russia. Despite efforts of the Russian central bank, the ruble has been spiraling downward, with oil prices plunging to historic levels. The ruble shed around 19 percent on Wednesday.... General Motors said it has halted the delivery of cars to dealerships in Russia as it strives to overcome the business risks stemming from the collapse of the ruble.
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