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

Gainers:

Google Inc. (GOOG) 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) 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) 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) 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) 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) 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) is falling more than 3 percent to $73.88.

Micron Technology Inc. (MU) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Activision Blizzard reported a better-than-expected increase in second-quarter profit, as the video game publisher saw robust growth in digital channels, penetration in China and improved margins. It lifted its guidance for 2015, sending its shares up... Diversified media and entertainment conglomerate Walt Disney Co. said Tuesday after the markets closed that its third quarter profit rose 11% from last year, driven mainly by strong earnings growth at its film and consumer products divisions. The company's quarterly earnings per share came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock.
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