logo
Plus   Neg
Share
Email

Pre-market Movers For April 17 (GS, KO, JNJ, CMA, USB, SRSL, FSLR)

Gainers:

Comerica Inc. (CMA) is gaining 6 percent to $32.75. The company's first quarter profit increased from the previous year and earnings per share were above Wall Street view. The company expects a moderate increase in net interest income and a relatively stable non-interest income.

U.S. Bancorp (USB) is gaining over 1 percent to $31.60. The company first quarter profit improved from the previous year period, and also topped analysts' estimate.

Johnson & Johnson (JNJ) is rising 0.50 percent to $64.30. The company's first quarter profit rose from the year-ago quarter, and adjusted earnings per share were above Wall Street view. However, worldwide sales declined 0.2 percent and were below consensus. The company raised its earnings guidance for full-year 2012 to reflect the positive impact of current exchange rates.

Coca-Cola Co. (KO) is up more than 1 percent to $73.25. The company's first quarter profit increased from the prior year quarter, and earnings per share were above Wall Street view. Net operating revenues rose 6 percent and were also above consensus.

Decliners:

Goldman Sachs Group, Inc. (GS) is falling 0.33 percent to $73.25. The company's net earnings applicable to common shareholders jumped 128 percent from the previous year, and were above Wall Street view. However, net earnings fell 23 percent from the year-ago quarter. Total net revenues declined 16 percent from the year-ago quarter, but were above consensus. Meanwhile, net revenues from institutional client services and investment banking declined 14 percent and 9 percent, respectively. In addition, the company's board increased quarterly dividend to $0.46.

First Solar, Inc. (FSLR) is down 1 percent to $20.57. The company announced that it is restructuring its operations, which will reduce its global workforce by approximately 2,000 positions, about 30 percent of the total. The company said it is taking these actions in response to deteriorating market conditions in Europe and to reduce costs and align its organization with sustainable market opportunities.

Trading halt:

Trading in shares of SRS Labs Inc. (SRSL) was halted. DTS, Inc. (DTSI) has agreed to acquire the company in a cash-and-stock transaction valued at $9.50 per share.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT