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Pre-market Movers For April 12 (TSCO, WAB, RAD, FAST, ILMN)

Gainers:

Tractor Supply Co. (TSCO) is rising 4 percent to $95.85. The company's net sales for the first quarter improved 22 percent, and topped one billion dollars for the first time in the company's history. In addition, the company raised its financial expectations for 2012.

Westinghouse Air Brake Technologies Corp. (WAB) is rising 7 percent to $76. The company expects first quarter earnings per share above Wall Street view. The company expects its financial performance in 2012 to exceed initial guidance for several reasons.

Decliners:

Rite Aid Corp. (RAD) is down 0.59 percent to $1.69. The company's fourth quarter net loss narrowed from the previous year. Revenues increased 10.7 percent, and were also above consensus.

Fastenal Co. (FAST) is down 1 percent to $49.01. The company's first quarter profit increased 26 percent from the year-ago quarter, but earnings per share were below consensus. Sales rose 20 percent.

Illumina Inc. (ILMN) is falling more than 1 percent to $51.81 amidst the news that Roche Holding AG (RHHBY.PK) announced that its offer price of $51 per share for the company is full, fair and extremely attractive and is more than adequate to form a basis for negotiation.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
General Motors (GM) announced on Wednesday that it has been approved to voluntarily delist from the Toronto Stock Exchange. The auto giant reassured its shareholders that the TSX delisting will not impact its current listing on the New York Stock Exchange. Subsequent to the bankruptcy filing of German no frills airline Air Berlin (AIBEF.PK), Lufthansa airline is strongly pursuing to acquire Air Berlin. Meanwhile, Ryanair, its Irish rival, accused conspiracy in the deal and said that the acquisition move will breach the existing competition rules in Germany in general and EU in particular. The Royal Bank of Scotland plans to cut 880 jobs from its IT department in London by 2020, a UK labor union reported. Britain's Unite union claimed on Tuesday that the bank informed its staff about a further 40 percent cut of permanent IT jobs, which is said to be part of ongoing deep cost-cutting at the taxpayer-owned bank. The bank also plans a 65 percent reduction of contractors.
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