Pier 1 Imports, Inc. (PIR: Quote) is rising nearly 2 percent to $15.87. The company's first quarter profit improved 26.5 percent from the previous year period. Total net sales rose 8 percent and topped the consensus estimate. Comparable store sales increased 7.2 percent. The company also raised its full-year earnings view.
Kroger Co. (KR: Quote) is rising 4 percent to $22.12. The company's first quarter profit improved from the year-ago quarter. Total sales, including fuel, increased 5.8 percent, while excluding fuel, increased 4.3 percent. The company raised its earnings per share guidance for the year. The company also announced that its board authorized a new $1 billion share repurchase program.
Nokia Corp. (NOK: Quote) is falling nearly 10 percent to $2.52. The company announced a new set of restructuring actions, including reduction of 10,000 jobs globally by the end of 2013. The company also has agreed to sell its luxury mobile phones business Vertu to European private equity firm EQT VI. Nokia also is closely assessing the future of certain non-core assets.
Smithfield Foods, Inc. (SFD: Quote) is falling nearly 5 percent to $18.65. The company's fourth quarter profit declined from the year-ago period. Sales improved from the year-ago period, but missed the consensus estimate. The company also announced a new share repurchase program to buy up to an additional $250 million of its common stock.
Aegerion Pharmaceuticals, Inc. (AEGR: Quote) is down over 8 percent to $15.12 based on the news that it is planning sale its common stock in an underwritten public offering.
Credit Suisse Group AG (CS: Quote) is falling 10 percent to $17.80. UBS AG (UBS: Quote) is down over 1 percent to $11.43. Swiss National Bank, in its Financial Stability Report for 2012, has announced that it considers that the big banks' loss-absorbing capital is still below the level needed to ensure sufficient resilience. At end of March 2012, the share of loss-absorbing capital in the net balance sheet total was 2.7% at UBS and only 1.7% at Credit Suisse.
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by RTT Staff Writer
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