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Pre-market Movers For March 8 (ANN, MCD, P, AMBA, FL, SKUL, GDI)

Gainers:

ANN INC (ANN) is gaining 7 percent to $31.00. The company's fourth quarter profit improved marginally from the prior year period, while total net sales missed the consensus estimate. Meanwhile, the company forecast first quarter and full-year sales above Wall Street view.

McDonald's Corp. (MCD) is gaining nearly 2 percent to $98.79. The company reported a 1.5 percent decline in February global comparable sales, reflecting a negative calendar shift as February 2012 included an extra day due to leap year. Excluding this negative calendar shift of 3.2 percentage points, global comparable sales for the month rose 1.7 percent.

Pandora Media, Inc. (P) is jumping nearly 26 percent to $14.75 and Ambarella, Inc. (AMBA) is up over 12 percent to $13.48 following the release of their quarterly results.

Gardner Denver, Inc. (GDI) is rising over 1 percent to $74.85 based on the news that it has agreed to be acquired by Kohlberg Kravis Roberts & Co. L.P. for about $3.9 billion, including the assumption of debt.

Decliners:

Foot Locker, Inc. (FL) is falling 4 percent to $98.79. The company's fourth quarter profit improved 28 percent from the prior year period. Sales for the quarter grew 14 percent and topped the consensus estimate. For fiscal 2013, the company expects double-digit percentage earnings per share increase over 2012 adjusted earnings per share.

Skullcandy, Inc. (SKUL) is plunging 16 percent to $5.60 as it expects to report a loss in its first quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Drug major Johnson & Johnson Tuesday said it expects higher earnings and sales for its fiscal 2017, which are below market estimates. The company also reported solid fourth-quarter results, with adjusted earnings above market estimates, while sales missed their view, despite a growth. In pre-market activity on the NYSE, Johnson & Johnson shares were losing 1.68 percent. Verizon Communications Inc. (VZ) reported fourth-quarter adjusted earnings per share of $0.86 compared to $0.89, prior year. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $0.89 for the quarter. Analysts' estimates typically exclude special items.... German business software maker SAP AG on Tuesday raised its forecast for fiscal 2017 and 2020, after reporting higher profit and revenues in its fourth quarter. For fiscal 2017, SAP now expects non-IFRS operating profit in a range of 6.8 billion euros to 7.0 billion euros at constant currencies, compared to 6.63 billion euros in 2016.
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