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Pre-market Movers For April 13 (GOOG, CSTR, SAP, JPM, WFC, INFY, CTSH, MU)

Gainers:

Google Inc. (GOOG) is up 0.52 percent to $654.40. The company's first quarter profit rose 61 percent from the year-ago quarter. Earnings per share, excluding items, were above Wall Street view. In addition, the company plans to create a new class of non-voting capital stock, which will be distributed through a stock dividend to all existing shareholders.

Coinstar, Inc. (CSTR) is gaining 12 percent to $69.00. The company has raised its forecast for core earnings from continuing operations and revenue for the first quarter, which is above consensus. Coinstar said increased revenue guidance was driven mainly by stronger than anticipated consumer demand at Redbox throughout the quarter. The company also raised its guidance for the full year 2012.

SAP AG (SAP) is up 2 percent to $67.14. The company reported a 11 percent growth in its first quarter preliminary IFRS total revenue. The company also reiterated its full year 2012 outlook. The company said it had sales execution issues in North America which impacted first quarter performance. However, the company added that these issues have been resolved and the necessary steps have been taken to ensure that North America is back on track.

Decliners:

JPMorgan Chase & Co. (JPM) is declining 1 percent to $44.40. The company's first quarter profit declined year-over-year, although net revenues increased and came in above the consensus estimate. The company also noted that results for the quarter reflected positive credit trends for its consumer real estate and credit card portfolios.

Wells Fargo & Co. (WFC) is falling 2 percent to $33.37. The company's first quarter profit and revenue improved from the previous year, and were also above Wall Street view.

Indian software services firm Infosys Ltd. (INFY) is sliding 14 percent to $48.83 as the company issued weak full year guidance, warning of challenges ahead amid a tough economy. The company termed that the fourth quarter as "a very difficult quarter".

Cognizant Technology Solutions Corp. (CTSH) is falling more than 3 percent to $73.88.

Micron Technology Inc. (MU) is down 2 percent to $7.00. The company announced pricing of an offering of $480 million of its 2.375 percent convertible senior notes due 2032 and $390 million of its 3.125 percent convertible senior notes due 2032.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Cisco Systems Inc. (CSCO), the world's largest computer networking gear maker, is accelerating its ability to deliver on growth opportunities, aggressively driving its cloud business, and delivering continued strength in its deferred product revenue, as we sell more of its portfolio in software and cloud models. In fiscal 2016, the company sees a 25% increase in major new product introductions. Sanofi (SNYNF, SNY) reported that its fourth-quarter net income attributable to equity holders decreased to 334 million euros from 1.34 billion euros, last year. Earnings per share was 0.26 euros compared to 1.02 euros. Earnings per share excluding the held for exchange Animal Health Business was 0.41... Tour operator TUI Group reported narrower EBITA loss in its first quarter with increased turnover, driven by strong performances in Northern Region and Cruises. Further, the company said its current trading for Winter 2015/2016 and Summer 2016 remains in line with its expectations. Looking ahead, TUI reiterated its outlook to deliver underlying EBITA growth of at least 10 percent in fiscal 2016.
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