Pre-market Movers (EXPE, AMZN, ZNGA, JAZZ, GT, F, WDC, STX, SBUX, FDX)
The companies whose shares are moving in pre-market trade Friday are: Expedia, Amazon.com, Zynga Inc, Jazz Pharmaceuticals, Goodyear Tire & Rubber, Ford Motor, Western Digital, Seagate Technology, Starbucks Corp and Fedex Corp.
Expedia Inc. (EXPE) stock climbed 18.14 percent to $38.55 in pre-market session. The company swung to first quarter net loss of $3.28 million or $0.02 per share compared to net profit of $52.04 million or $0.37 per share in the same period last year. Adjusted net income was $36.9 million or $0.26 per share, up from $22.8 million or $0.16 in the same period last year and also above analysts' estimation of $0.15 per share.
Amazon.com Inc. (AMZN) stock climbed 13.47 percent to $222.20 in pre-market session. The company reported first quarter net profit of $130 million or $0.28 per share, down from $201 million or $0.44 per share in the same period last year, but comfortably beats analysts' estimation of $0.07 per share.
Zynga Inc. (ZNGA) stock surged 6.16 percent to $10.00 in pre-market session. The company swung to first quarter net loss of $85.4 million or $0.12 per share compared to net profit of $16.8 million or breakeven per share in the same period a year-earlier. Adjusted net income was $47 million or $0.06 per share, down from $75.4 million or $0.11 per share in the same quarter last year and above analysts' estimation of $0.05 per share.
Jazz Pharmaceuticals Plc (JAZZ) stock surged 5.91 percent to $47.87 in pre-market session. The company announced that it has agreed to buy EUSA Pharma for $650 million in cash and a potential $50 million milestone payable in cash based upon its lead product, Erwinaze, achieving a specified US net sales target in 2013.
Goodyear Tire & Rubber Co. (GT) stock gained 3.10 percent to $12.30 in pre-market trading. The company swung to first quarter net loss of $11 million or $0.05 per share compared to net profit of $103 million or $0.42 per share in the same period a year-earlier.
Ford Motor Co. (F) stock gained 2.61 percent to $12.18 in pre-market session. Its first quarter net profit declined to $1.4 billion or $0.35 per share from $2.55 billion or $0.61 per share in the same period a year-earlier. Adjusted net profit was $0.39 per share compared to analysts' estimation of $0.35 per share.
Western Digital Corp. (WDC) stock slumped 11.11 percent to $39.20 in pre-market trade despite better-than-expected third quarter earnings. The company reported third quarter net profit of $483 million or $1.96 per share, up from $146 million or $0.62 per share in the same period last year while analysts' expected net profit of $1.55 per share.
Seagate Technology Plc (STX) stock slumped 7.37 percent to $28.80 in pre-market session. Seagate Technology announced that its Board of Directors has authorized the company to repurchase up to $2.5 billion of its outstanding ordinary shares.
Starbucks Corp. (SBUX) stock plunged 4.39 percent to $58.00 in pre-market session as its fiscal 2012 earnings guidance fell short of expectations. For fiscal 2012, the company raised its earnings guidance to a range of $1.81 to $1.84 per share compared to prior estimation of $1.78 to $1.82 per share, but fell short of analysts' estimation of $1.86 per share.
Fedex Corp. (FDX) stock declined 1.77 percent to $86.00 in pre-market session. The stock has a 52-week low of $64.07, a 52-week high of $98.66 and $27.61 billion in market capitalization.
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