The companies whose shares are moving in pre-market trade Monday are: GTSI Corp, Tata Motors, Frontier Communications, Yahoo, National Bank of Greece, Cognizant Technology Solutions, American International Group, Southern Community Financial, Huntsman Corp. and Genworth Financial Corp.
GTSI Corp. (GTSI) stock climbed 9.35 percent to $5.73 in pre-market session. The company announced that it has entered into a definitive agreement to be acquired through a cash tender offer at $7.75 per share by an affiliate of UNICOM Systems in a transaction with an expected total value of approximately $76.67 million.
Tata Motors Ltd. (TTM) stock surged 3.65 percent to $28.93 in pre-market session. The stock has a 52-week low of $14.33, a 52-week high of $30.63 and $88.57 billion in market capitalization.
Frontier Communications Corp. (FTR) stock gained 2.31 percent to $3.98 in pre-market session. The company reported first quarter net profit of $26.8 million or $0.03 per share compared to $54.7 million or $0.05 per share in the same period a year-earlier.
Yahoo! Inc. (YHOO) stock gained 2.05 percent to $15.46 in pre-market session. The company is in talks to sell15 to 25 percent of Alibaba Group's stock back to China's largest e-commerce company, in a deal designed to eliminate complexities that had scuttled the parties' previous negotiations, Reuters has reported quoting a person familiar with the matter.
National Bank of Greece (NBG) stock slumped 8.56 percent to $2.03 in pre-market session after the Greek election results over the weekend suggest that a change in government is highly likely with the two main parties that supported the austerity measures and bailout package doing badly.
Cognizant Technology Solutions Corp. (CTSH) stock slumped 8.13 percent to $64.00 in pre-market session after lowering its fiscal 2012 earnings outlook. The company currently expects fiscal 2012 earnings to be at least $3.36 per share on revenue of at least $7.34 billion compared to its prior estimation of $3.43 per share on revenue of $7.53 billion. The company also reported first quarter net income of $243.65 million or $0.79 per share, up from $208.33 million or $0.67 per share in the same period last year.
American International Group, Inc. (AIG) stock plunged 6.7 percent to $30.64 in pre-market trade. The company announced that the U.S. Department of the Treasury has priced an offering of 163,934,426 shares of its AIG common stock at the public offering price of $30.50 per share.
Southern Community Financial Corp. (SCMF) stock plunged 4.32 percent to $2.66 in pre-market session.
Huntsman Corp. (HUN) stock plunged 4.18 percent to $14.21 in pre-market session. The company stock was initiated with buy rating at KeyBanc with a price target of $20.
Genworth Financial Corp. (GNW) stock declined 3.45 percent to $5.60 in pre-market session. The stock has a 52-week low of $4.80, a 52-week high of $11.90 and $2.58 billion in market capitalization.