The companies whose shares are moving in pre-market trade Wednesday are: Protalix BioTherapeutics, Charming Shoppes, Tripadvisor, Genworth Financial, Wynn Resorts, UBS AG, Herbalife, CBS Corp, Patni Computer Systems and Chesapeake Energy Corp.
Protalix BioTherapeutics Inc. (PLX) stock climbed 27.63 percent to $7.90 in pre-market session. Pfizer and Protalix Bio announced that the US Food and Drug Administration (FDA)-approved ELELYSO for injection, an enzyme replacement therapy (ERT) for the long-term treatment of adults with a confirmed diagnosis of type 1 Gaucher disease.
Charming Shoppes Inc. (CHRS) stock climbed 23.73 in pre-market trading after Ascena Retail Group announced that it will acquire Charming Shoppes in a cash transaction valued at approximately $890 million.
Tripadvisor Inc. (TRIP) stock climbed 17.30 percent to $42.85 in pre-market trading. The company reported first quarter adjusted net profit of $52.5 million or $0.38 per share compared to $50.2 million or $0.38 per share in the same quarter a year-earlier. Revenue surged 23 percent to $ 183.7 million, while analysts' polled by Reuters expected net profit of $0.33 per share on revenue of $174.41 million.
Genworth Financial Inc. (GNW) stock surged 5.69 percent to $6.50 in pre-market session. The company reported first quarter net income of $47 million or $0.09 per share, down from $59 million or $0.12 per share in the same period last year. Genworth Financial also announced that Michael Fraizer, Chairman and CEO of GNW, has resigned from the positions, effective immediately.
Wynn Resorts Ltd. (WYNN) stock surged 4.67 percent to $141.00 in pre-market session. The company announced that Wynn Macau's Cotai land concession contract had been officially approved by the Macau government, paving the way for Wynn to break ground on the 51-acre site.
UBS AG (UBS) stock surged 3.31 percent to $13.09 in pre-market session. Its first quarter net income plunged 54 percent from the same period last year after being affected by charges on its debt but reported a partial recovery in client activity levels. Net income was 827 million Swiss francs ($910 million) or 0.22 francs per share, down from 1.81 billion Swiss francs ($2 billion) or 0.47 Swiss francs per share in the same quarter a year-earlier.
Herbalife Ltd. (HLF) stock gained 2.97 percent to $57.97 in pre-market session. The company stock plunged nearly 20 percent in regular trade on Tuesday after a noted U.S. hedge-fund manager pressed the maker of nutrition and weight-loss products for details on its financial reporting, the Wall Street Journal reported.
CBS Corp. (CBS) stock advanced 2.93 percent to $34.40 in pre-market session. The company reported first quarter net income of $363 million or $0.54 per share, up from $202 million or $0.29 per share in the same period last year and above analysts' estimation of $0.44 per share.
Patni Computer Systems Ltd. (PTI) stock slumped 9.51 percent to $17.51 in pre-market session. The stock has a 52-week low of $10.91, a 52-week high of $20.42 and $1.30 billion in market capitalization.
Chesapeake Energy Corp. (CHK) stock plunged 5.41 percent to $18.54 in pre-market session. The company reported adjusted net income of $94 million or $0.18 per share, down from $518 million or $0.75 per share in the same period last year and also fell short of analysts' estimation of $0.29 per share.