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Pre-market Movers For Jan 11 (BBY, DNDN, WFC, ARQL, KBR)

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Gainers:

Best Buy Co., Inc. (BBY: Quote) is rising 5 percent to $12.85. The company's revenues for the nine-week holiday season ended January 5 fell 0.4 percent from the year-ago period, with comparable store sales declining 1.4 percent. The company's domestic revenues declined 1.2 percent, while international revenues grew 2.2 percent. Meanwhile, the company lowered its fiscal 2013 free cash flow guidance.

Dendreon Corp. (DNDN: Quote) is rising 15 percent to $5.86.

Decliners:

Wells Fargo & Co. (WFC: Quote) is down 1 percent to $35.07. The company's fourth quarter profit improved from the previous year period. Revenue for the period gained 7 percent. On a linked-quarter basis, revenue growth accelerated 14 percent.

ArQule Inc. (ARQL: Quote) is plunging 21 percent to $2.30. The company and Daiichi Sankyo announced that randomized Phase 2 signal generation trial of tivantinib used in combination with irinotecan and cetuximab in patients with refractory or relapsed colorectal cancer did not meet its primary endpoint of Progression-Free Survival.

KBR Inc. (KBR: Quote) is down 9 percent to $29.00 as it slashed its fiscal year 2012 adjusted earnings per share outlook due to significant project charges it expects to take in both its miners and U.S. construction businesses in the fourth quarter as well as higher than expected labor cost absorption expenses. The company noted that it is clearly disappointed with its outlook for the 2012 fourth quarter.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After moving mostly higher over the course of the previous week, stocks showed a notable move back to the downside during trading on Monday. With the drop on the day, the Dow pulled back well off last Friday's record closing high. After reporting four consecutive monthly increases, the National Association of Realtors released a report on Monday showing an unexpected drop in U.S. existing home sales in the month of August. NAR said existing home sales fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million in August. The European Central Bank remains ready to use additional unconventional tools to counter risks to the inflation outlook and to boost the euro area economy, ECB President Mario Draghi said on Monday. "The Governing Council remains fully determined to counter risks to the medium-term outlook for inflation," Draghi said in Brussels.
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