Pre-market Movers on July 21 (MHS, RHI, MS, ESRX, SYK, CVS, NOK, GNW, ABC, IR, WHR)
The companies whose shares are moving in pre-market trade on Thursday are: Medco Health Solutions, Robert Half International, Morgan Stanley, Express Scripts, Stryker, CVS Caremark, Nokia, Genworth Financial, AmerisourceBergen and Whirlpool Corp.
Medco Health Solutions Inc. (NYSE:MHS) shares climbed 23.16 percent to $68.90 in pre-market trading session. Express Scripts and Medco Health Solutions announced that they have entered into a definitive merger agreement whereby Medco shareholders will receive $71.36 per share in cash and stock.
The company reported second-quarter GAAP net income of $342.8 million or $0.85 per share compared to $356.9 million or $0.77 per share in the same quarter a year-ago.
Robert Half International Inc. (NYSE:RHI) shares surged 9.22 percent to $28.15 in pre-market trading session. The company stock was upgraded to “outperform” rating from “neutral” rating at Robert W. Baird.
Morgan Stanley (NYSE:MS) shares surged 7.27 percent to $23.25 in pre-market trading session. The company swung to second quarter net loss of $558 million or $0.38 per share from net profit of $1.578 billion or $1.09 per share in the same quarter a year-ago. Analysts’ expected the company to report a net loss of $0.62 per share for the second quarter.
Express Scripts Inc. (NASDAQ:ESRX) shares surged 6.43 percent to $56.00 in pre-market trading session. Express Scripts and Medco Health Solutions announced that they have entered into a definitive merger agreement whereby Medco shareholders will receive $71.36 per share in cash and stock.
Stryker Corp. (NYSE:SYK) shares gained 2.71 percent to $58.45 in pre-market trading session. Barclays Capital raised SYK fiscal 2011 earnings estimate to $3.71 from $3.70 per share and fiscal 2012 earnings estimate to $4.10 from $4.06 per share.
CVS Caremark Corp. (NYSE:CVS) shares gained 3.38 percent to $38.20 in pre-market trading session.
Nokia Corp. (NYSE:NOK) shares gained 3.28 percent to $5.97 in pre-market trading session. The company fell to a loss in the second quarter as it faces tough competition from Apple and Google’s Android-powered smartphones, and recorded a restructuring charge. However, excluding one-time items, it managed to beat analysts’ expectations.
Genworth Financial Inc. (NYSE:GNW) shares slumped 10.24 percent to $8.50 in pre-market trading session. The company announced on Wednesday that it expects to report a loss for the second quarter. The company expects to report an estimated net loss of $92 million to $112 million, or $0.19 or $0.23 per share compared with net income of $118 million or $0.24 per share in the same quarter last year.
AmerisourceBergen Corp. (NYSE:ABC) shares plunged 6.56 percent to $39.01 in pre-market trading session.
Ingersoll Rand Plc. (NYSE:IR) shares plunged 5.07 percent to $42.50 in pre-market trading session. For fiscal 2011, the company expects earning s to be in the range of $2.90 to $3.10 per share on revenue of $14.7 to $14.9 billion. Analysts’ expect the company to report revenue of $14.85 billion and earnings per share of $3.09.
Whirlpool Corp. (NYSE:WHR) shares declined 3.09 percent to $73.30 in pre-market trading session. The company swung to second quarter net loss of $161 million or $2.10 per share from net income of $205 million or $2.64 per share in the same quarter last year.
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