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

Gainers:

Best Buy Co., Inc. (BBY) 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) is rising 15 percent to $5.86.

Decliners:

Wells Fargo & Co. (WFC) 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) 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) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Taco Bell, the Mexican fast food chain of Yum! Brands Inc., is reportedly testing a new dessert product called the "Kit Kat Chocoladilla" at select locations in Wisconsin. It was tested last year in the UK. Nick Caporella, the chief executive officer of National Beverage Corp., has lashed out at short sellers after his company's shares declined more than 22 percent this month from their September 11 peak. In a statement, Caporella noted that less than 15 percent of the daily volume traded on major exchanges is financially driven by company fundamentals. Stitch Fix, an online personal styling service, has filed for its initial public offering on Nasdaq, expecting to raise $100 million. The company, which was founded in 2011 by Katrina Lake, is reportedly seeking a valuation of up to $4 billion in the IPO. The proposed NASDAQ trading symbol is "SFIX".
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