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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
Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations. British drug maker AstraZeneca Plc reported Friday higher profit in its first quarter, reflecting lower charges and higher revenues. US and emerging markets performed well. Looking ahead, for fiscal 2016, the company continues to expect both revenue and earnings per share to decline a low to mid single-digit percentage at constant exchange rates. International Consolidated Airlines Group S.A. Friday reported profit for the first quarter, compared to loss in the prior year, mainly reflecting higher passenger revenues and increased capacity. For fiscal 2016, IAG still expects to generate an absolute operating profit increase similar to 2015 as it expects to reduce underlying ex-fuel unit costs by around one percent.
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