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Pre-market Movers For May 2 (CMCSA, MA, CVS, CHRS, TWX, SMSC, IACI, TRIP, CBS)

Gainers:

CVS Caremark Corp. (CVS) is rising nearly 3 percent to $45.99. The company's first quarter profit increased from the previous year period. Net revenues improved nearly 20 percent. The company also raised its earnings guidance for the full year 2012.

Charming Shoppes Inc. (CHRS) is jumping 24 percent to $7.31 as Ascena Retail Group Inc. (ASNA) has agreed to acquire the company for $7.35 per share. ASNA is up 13 percent to $21.60.

IAC/InterActiveCorp. (IACI) is up more than 2 percent to $49.88. The company's first quarter profit surged 91 percent from the comparable period a year-ago. Adjusted earnings per share topped Wall Street view. Revenue improved 39 percent and was above consensus.

Standard Microsystems Corp. (SMSC) is surging 38 percent to $36.28. Microchip Technology Inc. (MCHP) has agreed to acquire the company for $37.00 per share in cash, which represents a total equity value of about $939 million.

Tripadvisor Inc. (TRIP) is gaining 15 percent to $42.20. The company's first quarter profit increased from the prior year period and was above Wall Street view. Revenue improved 23 percent and was above consensus.

CBS Corp. (CBS) is up more than 3 percent to $58.30. The company's first quarter profit jumped from the year-ago period and was above Wall Street view. Revenues advanced 12 percent, and were above the consensus estimate.

Decliners:

Time Warner Inc. (TWX) is down 0.21 percent to $37.84.. The company's first quarter profit declined from the year-ago period, but was above analysts' estimate. Revenues increased 4 percent, and topped the consensus estimate.

Comcast Corp. (CMCSA) is down over 3 percent to $29.50. The company's first quarter profit and revenue increased from the year-ago quarter and also were above Wall Street view.

Mastercard Inc. (MA) is falling 3 percent to $441.43. The company's first quarter profit improved from the year-ago quarter and was above Wall Street view. Net revenue advanced 17 percent and also topped the consensus estimate. Worldwide purchase volume during the quarter rose 17 percent on a local currency basis.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts. Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share.
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