The companies whose shares are moving in pre-market trade on Thursday are: Whole Foods, Sprint Nextel, FMC Technologies, Akamai Technologies, Cisco Systems, Credit Suisse, Lennar Corp and PepsiCo.
Whole Foods Market Inc. (NASDAQ:WFM) shares surged 8.65 percent to $58.40 in pre-market trading session after it raised fiscal 2011 earnings guidance above Street view. The company increased its fiscal 2011 earnings outlook to range of $1.76 to $1.80 a share from previous forecast of $1.66 to $1.71 a share. The company also raised its 2011 sales growth outlook to range of 10.7 percent to 12.8 percent from previous range of 10 percent to 12 percent. Street expects earnings of $1.71 a share on revenue of $9.99 billion with sales growth of 10.90 percent.
Sprint Nextel Corp. (NYSE:S) shares advanced 2.30 percent to $4.44 in pre-market trading session. Its fourth loss narrowed to $929 million or $0.31 per share compared to $980 million or $0.34 per share in the same quarter last year. The company added more than 1 million new subscribers and posted revenue growth during the final months of 2010.
FMC Technologies Inc. (NYSE:FTI) shares advanced 2.32 percent to $91.79 in pre-market trading session. The stock has a 52 week low of $46.16 and 52 week high of $96.75 and has $10.74 billion market capitalization.
Akamai Technologies Inc. (NASDAQ:AKAM) shares plunged 12.44 percent to $42.02 in pre-market trading session as it guided first quarter guidance below Street view. The company guided first quarter normalized earnings of 35 cents to 37 cents a share and revenue of $265 million to $275 million, while Street predicts profit of 38 cents a share on revenue of $283.68 million.
Cisco Systems Inc. (NASDAQ:CSCO) declined 10.07 percent to $19.81 in pre-market trading session. The company reported second quarter net income of $1.52 billion or $0.27 per share compared to $1.85 billion or $0.32 per share in the same quarter last year. Citi downgraded Cisco stock rating to “hold” from “buy” and lowered its target price to $22.
Credit Suisse Group AG (NYSE:CS) shares declined 6 percent to $43.84 in pre-market trading session as its fourth quarter earnings fell short of analysts’ expectations. Its fourth-quarter net profit rose 6.1 percent $876 million.
Lennar Corp. (NYSE:LEN) shares declined 3.12 percent to $20.20 in pre-market trading session. The stock has a 52 week low of $11.93 and 52 week high of $21.79 and has $3.89 billion market capitalization.
PepsiCo Inc. (NYSE:PEP) shares declined 1.46 percent to $63.48 in pre-market trading session. Its fourth quarter earnings fell 5 percent to $1.36 billion or $0.85 per share, from $1.43 billion or $0.90 per share in the same quarter a year-ago.