The companies whose shares are moving in pre-market trade on Wednesday are: Bank of America, AK Steel Holding, Archer Daniels Midland, Analog Devices, Legg Mason, Monsanto, United States Steel, KB Home, General Mills and Family Dollar Stores.
Bank of America Corp. (NYSE:BAC) shares surged 4.53 percent to $11.32 in pre-market trading session. The bank is nearing an $8.5 billion settlement with high-profile investors over mortgage loans. The latest settlement is considered as the single biggest tied to the subprime mortgage boom that led to the financial crisis of 2008. It will also help the bank to put the countrywide woes behind it.
AK Steel Holding Corp. (NYSE:AKS) shares gained 2.71 percent to $15.15 in pre-market trading session. The company stock was upgraded to “buy” rating from “hold” rating at Deutsche Bank.
Archer Daniels Midland Co. (NYSE:ADM) shares advanced 2.94 percent to $30.47 in pre-market trading session.
Analog Devices Inc. (NYSE:ADI) shares gained 2.72 percent to $39.32 in pre-market trading session. The stock has a 52 week low of $27.25 and 52 week high of $43.28 and has $11.47 billion market capitalization.
Legg Mason Inc. (NYSE:LM) shares advanced 2.69 percent to $32.80 in pre-market trading session.
Monsanto Co. (NYSE:MON) shares gained 2.99 percent to $68.90 in pre-market trading session. The company reported third quarter net income of $1.26 per share compared to $0.81 per share in the same quarter last year.
United States Steel Corp. (NYSE:X) shares advanced 2.86 percent to $44.55 in pre-market trading session. Deutsche Bank upgraded shares of United States Steel to “buy” rating with a price target of $56.
KB Home (NYSE:KBH) shares plunged 4.03 percent to $11.44 in pre-market trading session. Its second quarter loss widened to $68.5 million or $0.89 per share compared with net loss of $30.7 million or $0.40 per share in the same quarter last year.
General Mills Inc. (NYSE:GIS) shares declined 2.45 percent to $36.30 in pre-market trading session. The company reported fourth quarter net income of $320.2 million or $0.48 per share compared to $211.9 million or $0.31 per share in the same quarter last year. The company expects fiscal 2012 earnings to be in the range of $2.60 to $2.62, while analysts’ expect $2.68 per share.
Family Dollar Stores, Inc. (NYSE:FDO) shares declined 3.32 percent to $51.26 in pre-market trading session after lowering its fiscal 2011 earnings estimates. The company now expects fiscal 2011 earnings to be in the range of $3.08 and $3.16 per share compared to its earlier estimation of $3.13 and $3.23 per share.