MEMC Electronic Materials, Tower Semiconductor, Pebblebrook Hotel Trust, InterContinental Hotels Group, UBS AG, ARM Holdings, Hewlett-Packard and Credit Suisse Group AG are among the companies whose shares are moving in pre-market trading Wednesday.
MEMC Electronic Materials, Inc. (WFR) stock rallied 8.25 percent to $2.23 in pre-market trading. The company reported the second quarter adjusted net profit of $32.9 million or $0.14 per share, sharply lower from $66.2 million or $0.29 per share in the same period a year ago. Revenue rose 8 percent to $808.4 million while analysts expected a net loss of $0.02 per share on $749.51-million revenue.
Tower Semiconductor Ltd. (TSEM) stock climbed 5.83 percent to $10.35 in pre-market trading. The stock has a 52-week low of $8.25, a 52-week high of $15.30 and $209.96 million in market capitalization.
Pebblebrook Hotel Trust (PEB) stock surged 4.08 percent to $24.00 in pre-market trading. The stock has a 52-week low of $14.00, a 52-week high of $24.43 and $1.36 billion in market capitalization.
InterContinental Hotels Group Plc. (IHG) stock declined 2.48 percent to $26.35 in pre-market trading. Its stock surged nearly 7 percent in regular trading Tuesday after the company announcing second quarter earnings. Pre-tax profit surged to $178 million from $111 million in the same period last year. Revenue rose to $469 million compared to $454 million in the same period a year ago.
UBS AG (UBS) stock fell 2.17 percent to $10.84 in pre-market trading. The bank is planning to issue the first European Tier 2 transaction offered in the U.S., where bondholders could see their investment written down to zero if the Swiss bank runs into trouble, Reuters reported.
ARM Holdings Plc (ARMH) stock declined 2.14 percent to $26.54 in pre-market trading. The stock has a 52-week low of $21.64, a 52-week high of $31.55 and $12.45 billion in market capitalization.
Hewlett-Packard Co. (HPQ) stock declined 1.69 percent to $18.64 in pre-market trading. UBS AG initiated coverage on shares of HPQ with a "sell" rating and set a price target of $16.00.
Credit Suisse Group AG (CS) stock declined 1.76 percent to $17.35 in pre-market trading. The stock has a 52-week low of $16.09, a 52-week high of $32.41 and $22.66 billion in market capitalization.