Magic Software Enterprises Ltd, Medical Properties Trust, Diamond Foods Inc, Zynga Inc, MEMC Electronic Materials Inc, General Electric Company, NetSol Technologies Inc, Sony Corporation, and Cliffs Natural Resources Inc are among the companies whose shares are moving in the pre-market trading Wednesday.
Magic Software Enterprises Ltd (NASDAQ:MGIC) advanced 7.44 percent to $5.20 in pre-market trading. The company announced financial results for the fourth quarter and the full year ended Dec. 31, 2012, Wednesday. Fourth quarter revenues rose 17 percent to $35.7 million from $30.5 million for the corresponding quarter a year ago, but net profit fell $4.3 million ($0.12 per share) from $4.4 million, due to a tax expense on deferred income. Revenues for the year ended Dec. 31, 2012, stood at $126.4 million, an increase of 12 percent, compared to $113.3 million in same period, the preceding year.
Zynga Inc (NASDAQ:ZNGA) stock advanced 4.91 percent to $3.40 in pre-market trading. The company stock has a 52-week trading range of $2.09-$15.91 and a market capitalization of $2.54 billion.
Medical Properties Trust Inc (NYSE:MPW) gained 4.56 percent to $14.67 in pre-market trading. The research analysts at RBC Capital hiked their target price on shares of Medical Properties Trust from $12.00 to $15.00 in a report released Tuesday.
Diamond Foods Inc (NASDAQ:DMND) stock rose 4.05 percent to $15.92 in pre-market trading. The company shares have a 52-week low of 12.85, a 52-week high of $28.29 and a market capitalization of $337.67 billion.
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MEMC Electronic Materials Inc (NYSE:WFR) shares climbed 3.56 percent to $4.66 in pre-market trading. The company reported a significantly narrow fourth-quarter GAAP net loss of $11.8 million, or $0.05 per share, versus last year's loss of $1.48 billion, or $6.44 per share. Analysts polled by Thomson Reuters forecast loss per share of $0.01, on $661.46 million revenue for the quarter.
General Electric Company (NYSE:GE) shares gained 3.23 percent to $23.31 in pre-market trading. The stocks surged after reports that Comcast Corp is buying the rest of NBCUniversal from General Electric several years ahead of schedule to take advantage of low interest rates. The company stock has a 52-week low of $18.02, a 52-week high of $13.34 and $2.71 billion in market capitalization.
NetSol Technologies Inc (NASDAQ:NTWK) shares fell 44.92 percent to $4.55 in post-market trading. The company stock has a 52-week low of $3.60, a 52-week high of $9.50 and $65.51 million in market capitalization.
Cliffs Natural Resources Inc (NYSE:CLF) stock traded down 11.58 percent at $32.37 in pre-market trading. The company reported a quarterly loss Tuesday, dragged down by a writedown in the value of a Canadian acquisition, higher costs and lower iron ore prices, prompting the miner to slash its dividend by 76 percent, Reuters reported.
Sony Corporation (NYSE:LYG) declined 4.43 percent to $14.03 in pre-market trading. The company shares have a 52-week low of $9.57, a 52-week high of $22.35 and a market capitalization of $14.73 billion.