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Pre-market Movers For Feb 26 (HD, M, AZO, RSH, ACFC, TWI, AMCX)

Gainers:

Home Depot, Inc. (HD) is rising over 2 percent to $65.35. The company's fourth quarter earnings and sales improved from the previous year period ans were above Wall Street view. The company's board has authorized a $17 billion share repurchase program and also raised its quarterly dividend. Meanwhile, the company forecast fiscal 2013 earnings below Wall Street view.

Macy's, Inc. (M) is rising over 4 percent to $40.10. The company's fourth quarter profit declined from the year-ago quarter. Net sales improved from the prior year period and topped the consensus estimate. The company guided its fiscal 2013 earnings per share above analysts' estimate.

Atlantic Coast Financial Corp. (ACFC) is jumping 35 percent to $4.80. The holding company for Atlantic Coast Bank entered into a definitive merger agreement with Bond Street Holdings, Inc. As a result of this strategic merger agreement, the company's stockholders will receive $5.00 per share in cash for each common share owned.

Decliners:

AutoZone Inc. (AZO) is falling 2 percent to $369.99. The company's second quarter profit improved from the previous year period and was above Wall Street view. Net sales rose 2.8 percent, but missed the consensus estimate by a whisker. Domestic same-store sales for the quarter declined 1.8 percent.

RadioShack Corp. (RSH) is down more than 3 percent to $2.94. The company slipped to a loss in its fourth quarter, hurt by a hefty charge related to deferred tax assets and lower revenues. Net sales and operating revenues were below the consensus estimate.

Titan International Inc. (TWI) is declining 11 percent to $22.10 following the release of its quarterly results.

Trading halt:

Trading in shares of AMC Networks Inc. (AMCX) was halted. The company's fourth quarter profit slumped from the previous year period. Net revenues were below the consensus estimate.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Federal Aviation Administration said several pilots complained about pointing of strong green laser beams at planes flying over Long Island. The location was around Farmingdale, during 9.30 pm and 10 pm. Searches are on to locate the exact source of the laser beam. The Federal official suspects that the beam came from a hand-held device. Discount retailer Big Lots, Inc. Friday reported an increase in income from continuing operations for the first quarter, from last year. The company also registered a surge in net income particularly as it had carried a loss from discontinued operations last year. Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items.
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