Pre-Market Movers (JPMorgan Chase, Alcoa, Avon, Symantec, Micron Technology, Chesapeake Energy, Schlumberger, Herbalife)

 
on May 14 2012 7:54 AM
NYSE
The bond market focused Thursday on weak economic data while equity investors responded to news that an unexpectedly high number of people sought first-time jobless benefits, leaving both types of securities higher. REUTERS

The companies whose shares are moving in pre-market trade Monday are: Acadia Pharmaceuticals, Avon Products, Chesapeake Energy Corp, Micron Technology, Ancestry.com, Herbalife Ltd, Schlumberger, Symantec Corp, JPMorgan Chase and Alcoa Inc.

Acadia Pharmaceuticals Inc. (ACAD) stock climbed 38.16 percent to $2.10 in pre-market session.

Avon Products Inc. (AVP) stock climbed 10.05 percent to $22.22 in pre-market session. The company announced that its board of directors and advisers will consider Coty's latest $10.7 billion takeover bid and would respond within a week.

Chesapeake Energy Corp. (CHK) surged 6.68 percent to $15.80 in pre-market trading. The company announced Friday that it has entered into a $3.0 billion unsecured loan from Goldman Sachs Bank USA and affiliates of Jefferies Group, Inc.

Micron Technology Inc. (MU) stock slumped 17.30 percent to $5.26 in pre-market session. Last week the company confirmed that it is engaged in talks with Elpida Memory, Inc.'s trustees to acquire Elpida's business.

Ancestry.com Inc (ACOM) stock slumped 11.12 percent to $23.25 in pre-market trading. The stock has a 52-week low of $20.67, a 52-week high of $45.18 and $1.11 billion in market capitalization.

Symantec Corp. (SYMC) stock plunged 4.27 percent to $14.79 in pre-market session. The company stock was downgraded to sell rating from neutral rating at Goldman Sachs.

Herbalife Ltd. (HLF) stock plunged 4.08 percent to $43.49 in pre-market session. The company announced multiple stock transactions by several members of its board of directors to strengthen investors' confidence after its stock price collapsed. Meanwhile, analysts at DA Davidson lowered price target on shares of HLF to $72.00 from $90.00.

JPMorgan Chase & Co. (JPM) stock declined 1.68 percent to $36.34 in pre-market session. Fitch Ratings downgraded JPMorgan's short-term debt to F1 from F1+ and long-term debt rating to A+ from AA- after the bank lost $2 billion in a trading hedge strategy.

Schlumberger Ltd (SLB) stock declined 1.16 percent to $68.00 in pre-market session. Analysts at Zacks reiterated neutral rating on shares of Schlumberger with a price target of $73.00.

Alcoa Inc. (AA) stock declined 1.10 percent to $8.96 in pre-market session. The stock has a 52-week low of $8.45, a 52-week high of $17.29 and $9.66 billion in market capitalization.

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