Pre-Market Movers (Infosys, Seadrill, Microsoft, Kraft Foods, Silvercorp, Barclays, Duke Energy)

By Satya Nagendra Padala | July 03 2012 6:54 AM

Duke Energy, Infosys, Seadrill Ltd, Barclays, Microsoft, Royal Bank of Scotland, Silvercorp Metals and Kraft Foods are among the companies whose shares are moving in pre-market trading Tuesday.

Reuters

Microsoft will launch its own news operation, months after pulling out of MSNBC.

Sponsorship Link

Duke Energy Corp. (DUK) stock climbed 119.07 percent to $51.00 in pre-market trading. South Carolina regulators approved the merger of Duke and Progress Energy Inc. (PGN), paving the way for the companies to close the deal, the Wall Street Journal reported.

Infosys Ltd. (INFY) stock surged 5.99 percent to $48.14 in pre-market trading. The company stock was upgraded to a “buy” rating from “hold” at Jefferies & Co.

Seadrill Ltd. (SDRL) shares surged 4 percent to $37.44 in pre-market trading. The company announced Tuesday that its wholly owned subsidiary, Seadrill Partners LLC, has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering.

Barclays Plc. (BCS) stock gained 1.39 percent to $10.92 in pre-market trading. Barclays Chief Executive Officer Bob Diamond quit Tuesday over the London Inter Bank Offered Rate (LIBOR) fixing scandal, in which the bank was fined £290 million ($450 million) by U.S. and U.K. regulators last week. The resignation came a day after Chairman Marcus Agius announced his decision to resign.

Microsoft Corp. (MSFT) stock fell 1.87 percent to $29.99 in pre-market trading. The company announced Monday that it will take a $6.2 billion writedown on its acquisition of the online advertising company AQuantive Inc. The writedown is the result of a slow rate of growth in Microsoft's online services division. Revenue per search has remained sluggish despite Microsoft making substantial investments in the unit.

Royal Bank of Scotland Group Plc. (RBS) stock declined 1.72 percent to $6.87 in pre-market trading. The stock has a 52-week low of $5.36, a 52-week high of $12.86 and $38.64 billion in market capitalization.

Silvercorp Metals Inc. (SVM) stock declined 1.08 percent to $5.50 in pre-market trading. The stock has a 52-week low of $4.89, a 52-week high of $12.12 and $949.03 million in market capitalization.

Kraft Foods Inc. (KFT) stock declined 0.48 percent to $38.70 in pre-market trading. Analysts at Zacks reiterated their “neutral” rating on shares of Kraft Foods with a price target of $41.00.