Clearwire Corp, Alcoa Inc, Barclays Plc, BP Plc, Apollo Group, Sprint Nextel, Nokia Corp and Bank of America Corp are among the companies whose shares are moving in pre-market trading Wednesday.
Clearwire Corp. (CLWR) stock climbed 8.90 percent to $3.18 in pre-market trading. The company announced Tuesday that it had received an unsolicited proposal from DISH Network Corp which sought to acquire all of CLWR’s common stock for $3.30 per share. Clearwire also said the proposal was only a preliminary indication of interest and was subject to numerous, material uncertainties and conditions, including the negotiation of multiple contractual arrangements being requested by DISH.
Alcoa Inc. (AA) stock surged 2.75 percent to $9.35 in pre-market trading. The largest U.S. aluminum producer swung to the fourth quarter net profit of $242 million or $0.21 per share compared to a net loss of $191 million or $0.18 per share in the same quarter last year. Quarterly revenue declined 2 percent to $5.90 billion but topped the analysts’ estimate of $5.60 billion.
Barclays Plc (BCS) stock advanced 1.62 percent to $18.77 in pre-market trading. The stock has a 52-week low of $9.23, a 52-week high of $18.70 and $56.52 billion in market capitalization.
BP Plc. (BP) stock gained 1.18 percent to $43.91 in pre-market trading. The stock has a 52-week low of $36.25, a 52-week high of $48.34 and $137.83 billion in market capitalization.
Apollo Group Inc. (APOL) stock plunged 4.49 percent to $20.00 in pre-market trading. The company reported the first quarter net income of $133.5 million or $1.18 per share compared to $149.3 million or $1.14 per share in the same period last year. The company currently expects the fiscal 2013 revenue to be in a range of $3.65 to $3.75 billion, down from its prior estimate of $3.65 to $3.80 billion and also fell short of the analysts’ estimate of $3.77 billion.
Sprint Nextel Corp. (S) stock plunged 3.69 percent to $5.75 in pre-market trading. Dish Network Corp. Tuesday launched an unsolicited offer to buy wireless broadband provider Clearwire Corp (CLWR) for $3.30 a share, 11 percent higher than Sprint’s $2.97 per share offer and setting up a potential takeover battle.
Nokia Corp. (NOK) stock declined 2.22 percent to $3.96 in pre-market trading. The stock has a 52-week low of $1.63, a 52-week high of $5.87 and $15.17 billion in market capitalization.
Bank of America Corp. (BAC) stock declined 1 percent to $11.86 in pre-market trading. The second largest U.S. lender by assets is looking to sell the collection rights on at least another $100 billion of mortgages after announcing similar deals for more than $300 billion Monday, Reuters has reported citing two sources familiar with the situation.