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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
Oracle Corp. said Wednesday after the markets closed that its second quarter profit fell 2% from last year, hurt mainly by higher income tax expenses even as revenue increased 3%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Apple's iPhone-based Apple Pay system is gaining momentum nationwide with a host of new banks and retailers signing on. The system allows users to link a credit card directly to their device for payments and Apple now says they have deals with banks that account for 90 percent of the debit card transactions in the US. The current drop in fuel prices could lead to a major sales dip for electric automaker Tesla, according to some industry experts. The Elon Musk led manufacturer had predicted sales of over 500,000 new vehicles by 2020, but now that number could fall by as much as 40 percent.
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