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Pre-market Movers For April 13 (GOOG, CSTR, SAP, JPM, WFC, INFY, CTSH, MU)

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4/13/2012 8:54 AM ET

Gainers:

Google Inc. (GOOG: Quote) is up 0.52 percent to $654.40. The company's first quarter profit rose 61 percent from the year-ago quarter. Earnings per share, excluding items, were above Wall Street view. In addition, the company plans to create a new class of non-voting capital stock, which will be distributed through a stock dividend to all existing shareholders.

Coinstar, Inc. (CSTR: Quote) is gaining 12 percent to $69.00. The company has raised its forecast for core earnings from continuing operations and revenue for the first quarter, which is above consensus. Coinstar said increased revenue guidance was driven mainly by stronger than anticipated consumer demand at Redbox throughout the quarter. The company also raised its guidance for the full year 2012.

SAP AG (SAP: Quote) is up 2 percent to $67.14. The company reported a 11 percent growth in its first quarter preliminary IFRS total revenue. The company also reiterated its full year 2012 outlook. The company said it had sales execution issues in North America which impacted first quarter performance. However, the company added that these issues have been resolved and the necessary steps have been taken to ensure that North America is back on track.

Decliners:

JPMorgan Chase & Co. (JPM: Quote) is declining 1 percent to $44.40. The company's first quarter profit declined year-over-year, although net revenues increased and came in above the consensus estimate. The company also noted that results for the quarter reflected positive credit trends for its consumer real estate and credit card portfolios.

Wells Fargo & Co. (WFC: Quote) is falling 2 percent to $33.37. The company's first quarter profit and revenue improved from the previous year, and were also above Wall Street view.

Indian software services firm Infosys Ltd. (INFY: Quote) is sliding 14 percent to $48.83 as the company issued weak full year guidance, warning of challenges ahead amid a tough economy. The company termed that the fourth quarter as "a very difficult quarter".

Cognizant Technology Solutions Corp. (CTSH: Quote) is falling more than 3 percent to $73.88.

Micron Technology Inc. (MU: Quote) is down 2 percent to $7.00. The company announced pricing of an offering of $480 million of its 2.375 percent convertible senior notes due 2032 and $390 million of its 3.125 percent convertible senior notes due 2032.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Israel on Thursday announced it has suspended the US-mediated peace talks with the Palestinians in response to a unity accord reached between the two rival Palestinian groups, the Hamas and the Fatah. The development comes just a day after the Hamas, a radical Islamist group that controls Gaza, and the Fatah faction that rules the West Bank announced a reconciliation deal. The two groups said they While U.S. President Barack Obama and his Russian counterpart Vladimir Putin have called for a diplomatic solution to the ongoing crisis in Ukraine, the two leaders both made comments Thursday with the potential to inflame rather than tamp down the situation. After initially showing a lack of direction, stocks have moved mostly higher over the course of the trading day on Thursday. The strength that has emerged on the day has largely offset the weakness that was seen in the previous session. The major averages have moved roughly sideways in recent trading, hovering in positive territory.
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