Stock futures were indicating a lower opening following the Federal Reserves’ decision to raise the discount rate after Thursday's closing bell.
Here are some of the early market movers for Friday.
Smith International Inc (SII)
Shares of oilfield services company jumped 13.2% in pre-market trading Friday after late Thursday’s reports that the company was in advanced talks to be acquired by its larger competitor Schlumberger.
Fuel Systems Solutions Inc (FSYS)
The company announced preliminary 2009 results expecting annual revenue to come in at $450 million, above current analyst estimates of $426.02 million. Shares were up 7.3% in pre-market trading.
Intuit Inc (INTU)
The financial management solutions company posted second-quarter results beating expectations with non-GAAP earnings of 38 cents per share on revenue of $837 million. Analysts had estimated earnings of 32 cents per share and revenue of $813.6 million. Shares were up 7.2% in pre-market trading.
Canadian Solar Inc (CSIQ)
The company lowered their gross margin outlook for the fourth-quarter citing a drop in selling prices, higher processing costs and defective production equipment its new plant. Shares dropped 11.8% in pre-market trading.
Apollo Group Inc (APOL)
Shares of the education services company fell 10.5% in pre-market trading after lowering second-quarter earnings guidance below current analyst expectations on higher than expected bad debt expenses.
Salix Pharmaceuticals (SLXP)
The FDA raised concerns of possible side effects in otherwise persuasive trials of the Xifaxan treatment of liver disorders. Shares were down 9.3% in pre-market trading.