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Pre-market Movers For May 11 (JPM, JWN, NVDA, GKNT, ARNA, WWWW)

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Gainers:

NVIDIA Corp. (NVDA: Quote) is up 7 percent to $13.34. The company's first quarter profit plunged from the year-ago quarter. Revenue declined from the prior year period, but was above Wall Street view. Meanwhile, the company guided second quarter revenue above consensus.

Arena Pharmaceuticals, Inc. (ARNA: Quote) is jumping 92 percent to $7.05. The company announced that the FDA Endocrinologic and Metabolic Drugs Advisory Committee has recommended the approval of its investigational drug candidate lorcaserin intended for weight management.

Decliners:

JPMorgan Chase & Co. (JPM: Quote) is down 8 percent to $37.46. The company disclosed that since March 31, 2012, its Chief Investment Office has had hefty mark-to-market losses in its synthetic credit portfolio that has proved to be more riskier than expected. The company currently estimates its Corporate business, within the Corporate/Private Equity segment, to incur a net loss in its second quarter of about $800 million, which excludes Private Equity results and litigation expense.

Nordstrom, Inc. (JWN: Quote) is declining 4 percent to $51.55. The company's first quarter profit increased from the previous year period, but missed Wall Street view. Net sales improved 13.7 percent, while same-store sales increased 8.5 percent. Meanwhile, the company expects fiscal 2012 earnings per share below analysts' estimate.

Web.com Group, Inc. (WWWW: Quote) is falling more than 2 percent to $15.16. The company announced the pricing of public offering of 8 million shares of its common stock by certain selling stockholders at $15.25 per share.

Trading halt:

Trading in shares of Geeknet, Inc. (GKNT: Quote) was halted. The company announced its plan to explore strategic alternatives with respect to its online media business, including the SourceForge, Slashdot and Freecode websites.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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