Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Pre-market Movers For March 7 (DELL, CIEN, FRED, PETM, SFD, HZNP, HIMX)

Gainers:

Dell Inc. (DELL: Quote) is gaining 0.35 percent to $14.37 amidst news that activist investor Carl Icahn has urged the company to pursue a leveraged recapitalization and pay a $9.00 per share dividend if the agreed going-private transaction at $13.65 per share is voted down by shareholders. Responding to Icahn, Dell stated that it is currently conducting a robust 'go-shop' process to determine if there are third parties interested in proposing alternative transactions and also welcomed Icahn and all other interested parties to participate in the process.

Ciena Corp. (CIEN: Quote) is rising nearly 14 percent to $16.99. The company's first quarter loss narrowed marginally from the prior year period and swung to a profit on a non-GAAP basis. Revenue rose 8.7 percent and topped Wall Street view. Meanwhile, the company forecast second quarter revenue in-line with market view.

Smithfield Foods, Inc. (SFD: Quote) is rising over 7 percent to $23.99. The company's third quarter earnings improved from the prior year period and were above Wall Street view. Sales rose 3 percent and also topped the consensus estimate. Further, the company noted that it expects solid earnings in fiscal 2013 and look forward to even stronger results the next year.

Horizon Pharma, Inc. (HZNP: Quote) is gaining 12 percent to $2.30 based on the news that it has received marketing authorization for DUEXIS from the United Kingdom Medicines and Healthcare Products Regulatory Agency.

Himax Technologies, Inc. (HIMX: Quote) is jumping 25 percent to $4.77.

Decliners:

PetSmart, Inc. (PETM: Quote) is falling over 7 percent to $61.60 following the release of its quarterly results.

Trading halt:

Trading in shares of Fred's Inc. (FRED: Quote) was halted. The company announced that comparable store sales for February declined 1.5 percent, versus a decline of 0.7 percent in the same period last year. Meanwhile, the company lowered its financial guidance for the fourth quarter of 2012, due to the combination of promotional markdowns on basic and consumable products, as well as year-end adjustments relating to higher-than-anticipated insurance and other operating costs.

Register
To receive FREE breaking news email alerts for Dell Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Home goods retailer Bed Bath & Beyond Inc. said Tuesday after the markets closed that its second quarter profit fell 10% from last year, as higher costs and expenses more than offset a 4.3% increase in sales. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly sales. At the same time, With lawmakers failing to address corporate tax reform before adjourning for the campaign season, the Treasury Department announced Monday that it is taking targeted action to reduce the tax benefits of corporate tax inversions. Technology giant Apple, Inc. announced Monday it has set a new record for first weekend sales of iPhone 6 and 6 Plus, having breached the 10 million mark within just three days of its sales launch on September 19. Sales came from the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the UK over the weekend.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.