Pre-Market Movers (Arkansas, Accretive Health, Nokia, Liquidity Services, General Mills, Dendreon, OCZ Tech, Nova Measuring, Seagate)

 
on July 31 2012 7:04 AM

Accretive Health, Arkansas Best Corp, Nokia Corp, Liquidity Services, General Mills, Dendreon Corp, OCZ Technology Group, Nova Measuring Instruments and Seagate Technology are among the companies whose shares are moving in pre-market trading Tuesday.

Accretive Health (AH) stock rallied 20.28 percent to $12.04 in pre-market trading. The company announced after the bell on Monday that it has entered into an agreement to settle the allegations brought against the company by the Minnesota State Attorney General earlier this year following the theft of a laptop, from which no patient data was accessed. The settlement includes a payment of about $2.5 million and potential restrictions on future Minnesota operations if the company plans to resume operations in the state.

Arkansas Best Corp. (ABFS) stock climbed 11.10 percent to $13.61 in pre-market trading as its second quarter earnings topped the analysts’ estimate. The company reported second quarter net profit of $0.44 per share, up from $0.20 per share in the same period a year earlier. Revenue rose to 2.4 percent to $510.5 million, while analysts’ expected a net profit of $0.16 per share on revenues of $508 million.

Nokia Corp. (NOK) stock surged 5.53 percent to $2.29 in pre-market trading. Nokia Siemens Networks, Nokia Oyj and Siemens AG's joint venture, announced Tuesday that it has been selected by Australia's Optus as a partner for its key network initiatives. The agreement includes modernization of the mobile network, reframing the 900 megahertz GSM frequency band and providing infrastructure and services for LTE (4G) rollout in Sydney and Perth, Reuters reported.

Liquidity Services (LQDT) stock surged 4.53 percent to $45.94 in pre-market trading. The company is expected to report the third quarter net profit of $0.47 per share on revenues of $123.8 million, up from $0.26 per share on revenues of $86.1 million in the same quarter last year.

General Mills Inc. (GIS) stock gained 2.12 percent to $39.56 in pre-market trading. The stock has a 52-week low of $36.64, a 52-week high of $41.06 and $25.13 billion in market capitalization.

Dendreon Corp. (DNDN) stock tumbled 17.48 percent to $5.10 in pre-market trading. Its second quarter adjusted net loss narrowed to $60.21 million or $0.41 per share from $85.04 million or $0.58 per share in the same period last year. Dendreon also said it would cut 600 jobs or 41 percent of its employees as part of a strategic restructuring.

OCZ Technology Group Inc. (OCZ) stock slumped 15.88 percent to $5.35 in pre-market trading as Seagate’s conference call commentary suggests that an acquisition of OCZ is not imminent. The company stock rallied more than 30 percent last week on rumors that it would be acquired by Seagate Technology.

Nova Measuring Instruments Ltd. (NVMI) stock plunged 11.05 percent to $7.89 in pre-market trading. The company reported a second quarter net profit of $0.14 per share, down from $0.34 per share in the same period a year ago.

Seagate Technology Plc. (STX) stock plunged 7.49 percent to $28.15 in pre-market trading as its fourth quarter earnings fell short of expectations. The company reported fourth quarter adjusted net profit of $1.03 billion or $2.41 per share that fell short of Reuters' estimate of $2.51 per share.

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