Pre-Market Movers (VMware, Apple Inc, ARM Holdings, TrovaGene, F5 Networks Inc, Eli Lilly & Co, Broadcom, Polycom, Syngenta, Norfolk)

 
on July 24 2013 7:37 AM

VMware Inc, Apple Inc, ARM Holdings plc, TrovaGene Inc, F5 Networks Inc, Eli Lilly & Co, Broadcom Corporation, Polycom Inc, Syngenta AG and Norfolk Southern Corp are among the companies whose shares are moving in pre-market trading on Tuesday.

Gainers

Transition Therapeutics Inc (NASDAQ:TTHI) stock climbed 25.94 percent to $5.00 in pre-market trading. The company announced the exclusive licensing of worldwide rights to develop and potentially commercialize novel small molecule transcriptional regulator TT-601 from Eli Lilly and Co for the treatment of osteoarthritis pain.  

VMware Inc ((NYSE:VMW) stock surged 12.02 percent to $79.85 in pre-market trading. The company’s shares rose after the virtualization software provider reported second-quarter earnings and raised the top end of its full-year forecast that beat analysts’ expectations. The company reported a profit of $244.1 million, or 57 cents a share, up from $191.7 million, or 44 cents a share, a year earlier. Excluding one-time items, company earnings stood at 79 cents a share against analysts’ expectation of 77 cents.

Sarepta Therapeutics (NASDAQ:SRPT) stock advanced 16.89 percent to $54.01 in pre-market trading. The company, on Wednesday, said it plans to submit a New Drug Application to the U.S. Food and Drug Administration in the first half of 2014 for the approval of eteplirsen for the treatment of Duchenne muscular dystrophy. 

ARM Holdings plc (NASDAQ:ARMH) shares rallied 4.11 percent to $6.92 in pre-market trading. The company, on Wednesday, announced a pre-tax profit (excluding items) of $132.79 million (£86.6 million), up 37 percent year-on-year from £66.5 million and revenue rose 26 percent to $262.51 million (£171.2 million). The board also declared an interim dividend of 2.1 pence per share, up 26 percent from the 2012 interim dividend of 1.67 pence per share.

Apple Inc (NASDAQ:AAPL) shares rose 3.94 percent to $435.50 in pre-market trading. Apple reported third-quarter net profit and revenues that topped analysts’ estimates, mainly aided by an increase in its iPhone sales. The company’s earnings for the quarter stood at $6.9 billion, or $7.47 per share, down 22 percent from $8.8 billion earned in the same period a year ago. Analysts surveyed by FactSet predicted the company to post earnings of $7.31 per share.

Eli Lilly & Co. (NYSE:LLY) stock rose 3.94 percent to $52.99 in pre-market trading. The company reported earnings per share, or EPS, of $1.16 on revenue of $5.93 billion for the quarter ended June, beating analysts’ consensus estimate of $1.01 and revenue of $5.82 billion.

Losers

Broadcom Corporation (NASDAQ:BRCM) stock fell 8.11 percent to $29.25 in pre-market trading. Broadcom shares continued to decline for the second straight day after the company reported a loss in the second quarter and gave a weaker-than expected forecast, on Tuesday. The company’s earnings topped market expectations but the revenue missed analysts’ estimates. Broadcom lost 4.27 percent in regular trading on Tuesday.

Polycom Inc (NASDAQ:PLCM) declined 4.83 percent to $10.64 in pre-market trading. Polycom’s shares fell after it announced that the company’s CEO and President Andrew Miller resigned from the post after the board's audit committee found irregularities in his expense submissions.

Syngenta AG (NYSE:SYT) stock declined 4.52 percent to $79.25 in pre-market trading. The company's shares have a 52-week low of $63.54, a 52-week high of $87.73 and a market capitalization of $38.07 billion.

Norfolk Southern Corp. (NYSE:NSC) stock fell 2.43 percent to $75.00 in pre-market trading. The company reported a drop of 11 percent in its second-quarter profit at $465 million, or $1.46 a share on revenues of 2.8 billion, down from earnings of $524 million, or $1.60 a share registered a year ago. Analysts surveyed by Thomson Reuters expected a profit of $1.49 a share on revenue of $2.85 billion.

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