The companies whose shares are moving in pre-market trade on Tuesday are: VF Corp, Domino's, Saks, Cliffs Natural Resources, Carnival, Diamond Offshore Drilling, Douglas Dynamics, Hewlett-Packard, Western Refining and Phoenix New Media Ltd.
VF Corp. (NYSE:VFC) shares climbed 9 percent to $109.72 in pre-market trading session. The company announced that announced it will participate in the 2011 Citi Global Consumer Conference at the Westin Times Square in New York City. The company stock was downgraded to “hold” rating from “buy” rating at Citigroup.
Domino's Pizza Inc. (NYSE:DPZ) shares gained 2.23 percent to $23.88 in pre-market trading session. Trian Group said on Monday that it has acquired a 9.7 percent stake in Domino’s Pizza Inc.
Saks Inc. (NYSE:SKS) shares advanced 2.04 percent to $11.50 in pre-market trading session. The company reported first quarter net income of $28.4 million or $0.16 per share compared to $18.8 million or $0.11 per share in the same quarter last year.
Cliffs Natural Resources Inc. (NYSE:CLF) shares gained 1.45 percent to $87.20 in pre-market trading session. The stock has a 52 week low of $44.20 and 52 week high of $102.48 and has $11.66 billion market capitalization.
Carnival Corp. (NYSE:CCL) shares gained 1.41 percent to $40.38 in pre-market trading session.
Diamond Offshore Drilling, Inc. (NYSE:DO) shares advanced 1.21 percent to 71.17 in pre-market trading session. The company announced that a subsidiary of the DO has entered into two term drilling contracts with Anadarko Petroleum Corporation, which are expected to generate combined maximum total revenue of approximately $1.8 billion and represent 10 years of contract drilling backlog.
Douglas Dynamics, Inc. (NYSE:PLOW) shares slumped 9.90 percent to $14.47 in pre-market trading session. The company announced on Monday that it has launched a secondary offering of 5,000,000 shares of its common stock for sale by certain of its stockholders, including affiliates of Aurora Capital Group and Ares Management.
Hewlett-Packard Co. (NYSE:HPQ) shares plunged 4.80 percent to $37.89 in pre-market trading session as the company cut its fiscal 2011 outlook. For fiscal 2011, the company currently expects earnings to be at least $5.00 per share on revenue of $129 billion to $130 billion compared to its prior estimation of $5.20 to $5.28 per share on revenue of $130 billion to $131.5 billion. Analysts’ expect earnings of $5.24 per share on revenue of $130.29 billion.
Western Refining, Inc. (NYSE:WNR) shares declined 2.02 percent to $15.02 in pre-market trading session.
Phoenix New Media Ltd. (NYSE:FENG) shares declined 1.22 percent to $12.15 in pre-market trading session. The company announced that it has priced its initial public offering of 12,767,500 American depositary shares (ADSs) each representing eight Class A ordinary shares of the Company, at US$11.00 per ADS, with a total offering size of approximately US$140 million.