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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
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
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