Pre-market Gainers on Apr.29 (CAT, SPWRB, NTGR, SWKS, WFR, SOL, FSLR, MRK, NYX, LEG, STP, YGE)
The companies whose shares are gaining in pre-market trade on Friday are: SunPower, Netgear, Skyworks Solutions, MEMC Electronic Materials, Renesola, First Solar, Merck & Co, NYSE Euronext, Leggett & Platt, Suntech Power Holdings and Yingli Green Energy Holding.
SunPower Corp. (NASDAQ:SPWRB) stock jumped 41.00 percent to $22.25 in pre-market trading. SunPower and Total Group said they reached a broad strategic relationship whereby Total Group would launch a friendly tender offer through its subsidiary for up to 60 percent of SunPower's outstanding Class A Common shares and 60 percent of SunPower's outstanding Class B Common shares at a price of $23.25 per share for each class.
Netgear Inc. (NASDAQ:NTGR) stock advanced 17.12 percent to $39.82 in pre-market trading session, as its first quarter earnings and revenue exceeded Street view. Adjusted profit was $24.16 million or $0.65 per share, up from $17.06 million or $0.48 per share last year. Revenue rose to $278.8 million from $211.6 million. Analysts had expected a profit of $0.52 per share on revenue of $256.47 million.
Skyworks Solutions Inc. (NASDAQ:SWKS) stock gained 14.94 percent to $31.62 in pre-market trading, as it guided third quarter above Street view. The company expects third quarter adjusted earnings of $0.46 per share and revenue of about $345 million, while Street analysts predict profit of $0.43 per share on revenue of $335.02 million.
MEMC Electronic Materials, Inc. (NYSE:WFR) shares surged 6.73 percent to $11.90 in pre-market trading session. The company announced on Thursday that Wells Fargo (NYSE:WFC) will invest up to $120 million in SunEdison (subsidiary of WFR) solar projects.
Renesola Ltd. (NYSE:SOL) shares advanced 5.54 percent to $9.14 in pre-market trading session. The company expects second quarter revenue to be in the range of $280-$300 million against analysts’ estimation of $340 million.
First Solar Inc. (NASDAQ:FSLR) shares gained 4.78 percent to $145.00 in pre-market trading session. Solar companies’ shares gained after the news that Italy will extend solar industry incentives until the end of August.
Caterpillar Inc. (NYSE:CAT) shares advanced 3.07 percent t o $116.10 in pre-market trading session. The company reported first quarter net income of $1.225 billion or $1.84 per share compared to $233 million or $0.36 per share in the same quarter last year. Sales and revenues rose to $12.949 billion from $8.238 billion in the first quarter of 2010.
Merck & Co Inc. (NYSE:MRK) shares advanced 2.01 percent to $36.49 in pre-market trading session. The company reported first quarter net income of $2.86 billion or $0.92 per share compared to $2.61 billion or $0.83 per share in the same quarter last year. Analysts’ expected a net income of $0.84 per share for the first quarter.
NYSE Euronext (NYSE:NYX) shares gained 1.01 percent to $40.15 in pre-market trading session on news that Nasdaq OMX Group and IntercontinentalExchange may go hostile in their attempt to acquire NYSE Euronext, which has agreed to merge with Germany’s Deutsche Boerse.
Leggett & Platt, Inc. (NYSE:LEG) shares advanced 3.26 percent to $25.34 in pre-market trading session as the company raised its fiscal 2011 earnings estimates. The company expects fiscal 2011 earnings to be in the range of 1.25 to 1.50 per share on of $3.5 to $3.8 billion sales compared to its earlier estimation of $1.20 to $1.40 per share on $3.4 to $3.6 billion sales.
Suntech Power Holdings Co., Ltd. (NYSE:STP) shares advanced 4.42 percent to $9.456 in pre-market trading session on news that Italy will extend solar industry incentives until the end of August.
Yingli Green Energy Holding Company Ltd. (NYSE:YGE) shares gained 3.67 percent to $12.71 in pre-market trading session on news Italy will extend solar industry incentives until the end of August.
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