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

Gainers:

CVS Caremark Corp. (CVS: Quote) 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: Quote) 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: Quote) 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: Quote) 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: Quote) 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: Quote) 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: Quote) 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: Quote) 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: Quote) 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
Internet video service Sling TV, on Wednesday said HBO would be available in time for the "Game of Thrones" and "Silicon Valley" season premieres on April 12, but did not specify a launch date. Memory chip maker Micron Technology, Inc. said Wednesday after the markets closed that its second quarter profit rose 28% from last year, helped by higher sales and lower income tax expenses. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly sales. Apple Watch is expected to post robust sales in the first weekend after its launch on April 24. A craze for Apple Watch may catapult the smartwatch industry into a lucrative market, while a not-so-impressive response for the Apple device may weigh on the industry.
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