Gainers:
Homebuilder Lennar Corp. (LEN) is up over 1% to $18.31 after it reported earnings and revenues for the second quarter, which exceeded expectations despite declining from the year-ago period. The company said it should experience favorable year-over-year comparisons going forward, given that the housing stimulus tax credit was eliminated in May 2010. The company said it remain confident that it is well positioned for a profitable year in 2011.
Rite Aid Corp. (RAD) is rising nearly 4% to $1.14 as it reported a narrower loss for its first quarter. Revenues were flat with the previous year. In addition, the company confirmed its guidance for fiscal 2012.
Bed Bath & Beyond, Inc. (BBBY) is up 2% to $55.05 as its first quarter profit increased 38% from the last year. Sales grew nearly 9.7%. The company's quarterly earnings and revenues were above Wall Street estimates.
Decliners:
Oracle Corp. (ORCL), which is slated to report its fourth quarter results after the bell today, is sliding 0.31% to $32.10 in pre-market trading. Analysts' estimate company's fourth quarter earnings per share and revenue to be $0.71 and $10.75 billion respectively.
WD-40 Co. (WDFC) is plunging over 6% to $38.60 as it lowered its fiscal 2011 forecast. The company noted that this year it has seen challenges in terms of rising commodity prices impacting the gross margin unfavorably which requires it to update 2011 fiscal year guidance.
ConAgra Foods, Inc. (CAG) is sliding 3% to $24.63 as it said that higher input costs and difficult economic conditions are expected to continue to create challenges in fiscal 2012. The company's fourth quarter profit surged from the previous year. Sales for the quarter improved 5.3%.
Transocean Ltd. (RIG) is down over 1% to $61.16 amid news that it has blamed faulty decision-making by British energy giant BP plc (BP, BP.L) for the Deepwater Horizon oil spill disaster in the Gulf of Mexico last year.
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