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Early-Market Movers: Ambac, True Religion

 
By Michael Goldstein
FOXBusiness
     

    Stock futures were in the green ahead of the interest rate decision from the Fed later today. 

    Here are some of the early-market movers for Wednesday. 

    Ambac Financial Group (ABK

    Shares of the bond insurer jumped 31.5% in pre-market trading after posting better-than-expected earnings of $7.58 per share on $2.69 billion in revenue.  Analysts had been expecting a loss of $4.43 per share.  The company’s earnings got a boost from $2.13 billion in gains from credit derivatives which were triggered by Ambac’s widening credit spread. 

    Thomas Properties Group, Inc. (TPGI) 

    Shares of the company were up 23.6% in pre-market trading Wednesday after it reported earnings after Tuesday’s bell and announced it would postpone its stock offering.  The company reported a loss of 43 cents per share, up from a loss of 13 cents a year ago, but revenue surged 67% to $42.9 million. 

    Pacer International (PACR

    The transportation and logistics company announced a surprise profit for the third quarter after the bell Tuesday reporting earnings of 2 cents per share on revenue of $418.7 million. Analysts had been expecting a loss of 1 cent per share and revenue of $402.59 million. Shares were up 25% in pre-market trading.

    Radian Group Inc. (RDN

    The credit-services company posted better-than-expected third-quarter results of 86 cents per share on revenue of $331.6 million. Analysts had been expecting a loss of $1.32 per share on revenue of $258 million. Shares were up 6.4% in pre-market trading.

    Stec Inc. (STEC)

    Despite posting third-quarter results slightly better than analyst expectations late Tuesday, shares of the flash-memory maker were down 31.8% in pre-market trading Wednesday.  While earnings of 50 cents per share beat analyst estimates of 47 cents per share, the company announced one of its key customers, EMC Corp., would be carrying its 2009 inventory into 2010 driving revenue prospects down. 

    True Religion Apparel Inc's (TRLG

    Shares were down 9.8% in pre-market trading Wednesday after the company posted third-quarter results after the bell Tuesday below Street expectations.  The company reported earnings of 58 cents per share on revenue of $82.4 million while analysts had been expecting earnings of 59 cents per share on revenue of $84.6 million.

     

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