The companies whose shares are moving in pre-market trade Wednesday are: Apple Inc, Arm Holdings, Broadcom Corp, Sprint Nextel, Eli Lilly, Amgen Inc, Harley-Davidson, Baidu Inc, ABB Ltd and FMC Technologies.
Apple Inc. (AAPL) stock climbed 9.28 percent to $612.25 in the pre-market session as its second quarter earnings beat analysts’ estimates. The iPhone-maker announced that its second quarter net profit nearly doubled on strong sales of its iPhones and iPad multimedia devices. Net income was $11.62 billion or $12.30 per share, up from $5.99 billion or $6.40 per share in the same period a year-ago and analysts’’ estimation of $10.06 per share.
Arm Holdings plc (ARMH) stock surged 5.69 percent to $26.58 in pre-market session. The stock was upgraded to a “neutral” rating from an “underweight” rating at JPMorgan Chase.
Broadcom Corp. (BRCM) stock surged 5.46 percent to $36.30 in pre-market session. The stock has a 52-week low of $27.59, a 52-week high of $41.00 and $18.95 billion in market capitalization.
Sprint Nextel Corp. (S) stock surged 4.45 percent to $2.58 in pre-market session. Its first quarter net loss widened to $863 million or $0.29 per share from $439 million or $0.15 per share in the same period a year-ago, ewhile analysts’ expected net loss of $0.41 per share.
Eli Lilly & Co. (LLY) stock surged 3.85 percent to $41.50 in pre-market session. The company reported first quarter net income of $1.01 billion or $0.91 per share, down from $1.055 billion or $0.95 per share in the same period last year but successfully beat analysts’ estimation of $0.78 per share.
The company also raised its fiscal 2012 earnings outlook to a range of $3.14 to $3.29 per share compared to its prior estimation of $3.10 and $3.20 per share, while analysts’ expected earnings per share of $3.18.
Amgen Inc. (AMGN) stock gained 3.79 percent to $71.23 in pre-market session. The company has agreed to buy 95.6 percent of shares in Mustafa Nevzat Pharmaceuticals (MN), a privately held Turkish pharmaceutical company, for an amount that values MN at US $700 million.
Harley-Davidson Inc. (HOG) stock gained 3.24 percent to $51.99 in pre-market session. Its first quarter net profit rose to $172.04 million or $0.74 per share from $119.26 million or $0.51 per share in the same period last year.
Baidu Inc. (BIDU) stock slumped 8.26 percent to $124.61 in pre-market session. Its first quarter revenue surged 75 percent to $677.1 million compared to same period last year, but disappointed the market with a bleak outlook for the next quarter.
China's dominant search engine has forecast the second quarter revenue to be between $847 million and $867 million and said it is expecting a tough next quarter.
ABB Ltd. (ABB) plunged 3.46 percent to $19.52 in pre-market session. The stock has a 52-week low of $15.89, a 52-week high of $27.58 and $46.31 billion in market capitalization.
FMC Technologies Inc. (FTI) stock fell 2.23 percent to $46.56 in pre-market session. The company reported first quarter net income of $98.8 million or $0.41 per share compared to $85.2 million or $0.35 per share in the same period last year, but fell short of analysts’ estimation of $0.44 per share.