Pre-Market Movers (Pandora Media, Yingli Green, InterOil, Marvell Technology, Siemens, AVEO Pharmaceuticals, Sears Holdings, salesforce.com, Cleantech Solutions)

on May 24 2013 8:23 AM

Pandora Media Inc, Yingli Green Energy Hold. Co. Ltd, InterOil Corporation, Marvell Technology Group Ltd, Siemens AG, AVEO Pharmaceuticals Inc, Sears Holdings Corp, salesforce.com Inc, and Cleantech Solutions International Inc are among the companies whose shares are moving in the pre-market trading on Friday.

Gainers

Pandora Media Inc. (NYSE:P) shares climbed 13.05 percent to $19.40 in pre-market trading. The company’s first quarter adjusted loss was $18 million or $0.10 per share, in comparison to an adjusted loss of $14 million or $0.08 per share last year. The earnings were in-line with the Reuters' analysts estimate. However, the company increased its full year earnings and revenue outlook from a range between a loss of $0.05 per share and a profit of $0.05 per share on revenues of $600 million to $620 million, to a range between a loss of $0.02 per share and a profit of $0.08 per share on revenues of $615 million to $635 million.

Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE) shares rose 15.84 percent to $3.51 in pre-market trading.  The company stock has a 52-week low of $1.25, a 52-week high of $4.83 and $462.48 million in market capitalization.

InterOil Corporation (NYSE:IOC) shares climbed 10.86 percent to $103.62 in pre-market trading. The company said Friday that it and its joint venture partner, Pacific LNG Group, have entered into exclusive negotiations with ExxonMobil Papua New Guinea Ltd., a subsidiary of ExxonMobil (NYSE:XOM), on the development of Petroleum Retention License 15 which comprises the Elk and Antelope fields in the Gulf Province of Papua New Guinea.

Marvell Technology Group Ltd (NASDAQ:MRVL) stock rose 4.51 percent to $11.82 in pre-market trading. The company reported first quarter results that topped market expectations.  The company reported adjusted net income for the first quarter was $98.1 million or $0.19 per share for the quarter, compared to $138.7 million or $0.23 per share, a year ago. On average, 29 analysts polled by Thomson Reuters expected the company to earn $0.14 per share for the first quarter.

Siemens AG (NYSE:SI) stock increased 1.73 percent to $107.10 in pre-market trading. The company stock has a 52-week low of $77.88, a 52-week high of $113.16 and $88.72 billion in market capitalization.

Losers

AVEO Pharmaceuticals Inc. (NASDAQ:AVEO) shares slumped 17.41 percent to $2.23 in pre-market trading. The company said it was informed by its partner Astellas Pharma Inc that the Japanese company would not be seeking marketing approval for their experimental kidney cancer drug in Europe.

Sears Holdings Corp (NASDAQ:SHLD) shares plunged 12.31 percent to $51.01 in pre-market trading. The company reported a first quarter loss of $279 million, or $2.63 a share, in comparison to a profit of $189 million, or $1.78 a share a year earlier. Adjusted per-share loss widened to $1.29 a share from a per share loss of $0.51 a year earlier.

salesforce.com Inc. (NYSE:CRM) shares lost 8.05 percent to $42.01 in pre-market trading. The company reported on Thursday first quarter EPS of $0.10, in-line with Reuters' analysts estimate. Revenues for the quarter came in at $893 million versus the consensus estimate of $887.08 million. It expects FY14 EPS in the range of $0.47 to $0.49, versus the consensus estimate of $0.49 a share. 

Cleantech Solutions International Inc. (NASDAQ:CLNT) stock plunged 5.57 percent to $7.80 in pre-market trading. The shares lost more than 14 percent in regular trading on Thursday. 

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