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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
The Royal Bank of Scotland plans to cut 880 jobs from its IT department in London by 2020, a UK labor union reported. Britain's Unite union claimed on Tuesday that the bank informed its staff about a further 40 percent cut of permanent IT jobs, which is said to be part of ongoing deep cost-cutting at the taxpayer-owned bank. The bank also plans a 65 percent reduction of contractors. Discount-store operator Target, Inc. on Wednesday lifted its fiscal 2017 forecast for earnings and comparable sales after reporting higher comps in its second quarter. Net earnings in the quarter declined, while earnings from continuing operations increased with higher sales. Adjusted earnings per share as well as top line beat analysts' estimates. In pre-market, Target shares were up 6.4 percent. Shares of A.P. Moller-Maersk A/S were gaining around 4 percent in the morning trading in Denmark after the shipping and oil company maintained its forecast for higher profit in fiscal 2017, despite the expected negative impact from the June cyber-attack of up to $300 million. In its second quarter, the company slipped to a loss, compared to profit last year.
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