Pre-Market Movers (FRAN, ZION, RF, RVSN, CLWR, LSI, STI, C, MTGE, FITB)
The companies whose shares are moving in pre-market trade on Wednesday are: Francesca's Holdings Corp, Zions Bancorporation, Regions Financial Co, RADVision Ltd, Clearwire Corp, LSI Corp, SunTrust Banks, Citigroup, American Capital Mortgage Investment Corp and Fifth Third Bancorp.
Francesca's Holdings Corp. (FRAN) stock climbed 16.32 percent to $31.15 in pre-market trading. The company expects first quarter earnings to be in a range of $6.3 to $6.7 million or $0.14 to $0.15 per share compared to analysts' estimation of $0.13 per share. The company also said its fourth quarter net profit surged to $8.4 million or $0.19 per share from $4.3 million or $0.11 per share in the same period last year.
Zions Bancorporation (ZION) stock surged 5.68 percent to $20.64 in pre-market session. The stock has a 52-week low of $13.18, a 52-week high of $24.92 and $3.60 billion in market capitalization.
Regions Financial Co. (RF) stock surged 4.5 percent to $6.04 in pre-market trading session. The company announced Tuesday that it has commenced an underwritten public offering of approximately $900 million of its common stock as part of its plan to repurchase the $3.5 billion of Series A Preferred Stock issued to the U.S. Treasury Department under the Troubled Asset Relief Program's (TARP) Capital Purchase Program (CPP).
RADVision Ltd. (RVSN) stock surged 4.41 percent to $10.41 in pre-market trading on news that Avaya plc is set to acquire RVSN for $200-250 million.
Clearwire Corp. (CLWR) stock advanced 3.74 percent to $2.22 in pre-market trading. CLWR and Cricket Communications, Inc announced that they have entered into a five-year wholesale agreement.
LSI Corp. (LSI) stock advanced 3.04 percent to $8.80 in pre-market trading. The company raised its first quarter earnings estimate to $0.12 to $0.16 per share from $0.09 to $0.15 per share.
SunTrust Banks Inc. (STI) stock plunged 4.3 percent to $21.61 in pre-market trading. . The stock has a 52-week low of $15.79, a 52-week high of $30.45 and $12.11 billion in market capitalization.
Citigroup Inc. (C) stock declined 3.35 percent to $35.22 in pre-market session after The Federal Reserve said the financial institutions failed to meet minimum capital requirements in a stress test, Bloomberg reported.
American Capital Mortgage Investment Corp. (MTGE) stock declined 2.36 percent to $21.95 in pre-market session. The company announced that it priced a public offering of 12,000,000 shares of common stock for total expected gross proceeds of approximately $260 million before expenses.
Fifth Third Bancorp. (FITB) stock declined 1.84 percent to $13.90 in pre-market session.
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