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Thursday, November 19, 2009
Early-Market Movers: Suntech Power Holdings, Netease.com
By Michael Goldstein
FOXBusiness
Stock futures were pointing to a lower opening as after initial jobless claim numbers remained unchanged at 505,000 and following declines in the European markets.
Here are some of the early-market movers for Thursday.
Suntech Power Holdings Co Ltd. (STP)
Shares were up 4.3% in pre-market trading after beating the Street with third-quarter results. The company reported earnings of 16 cents per share on revenue of $473.1 million. Analysts had estimated earnings of eight cents per share on revenue of $462.58 million.
NetApp Inc. (NTAP)
The data storage solution provider released second-quarter results after the bell Wednesday beating analyst estimates. The company reported non-GAAP earnings of 37 cents per share on revenue of $910 million. Analysts had been expecting earnings of 30 cents per share on revenue of $881.55 million. Shares were up 4% in pre-market trading Thursday.
China Medical Technologies Inc. (CMED)
The Chinese medical device company reported a second-quarter loss of 26 cents per depository share on revenue of $24.3 million. Revenue was down 14.4% from the same period last year and shares were down 17.4% in pre-market trading.
Microvision Inc. (MVIS)
Shares were down 13.6% in pre-market trading Thursday after the vehicle display company announced it is planning to sell an undisclosed amount of shares in a public offering.
Hot Topic Inc. (HOTT)
Shares of the online retailer were down 11.7% in pre-market trading after saying releasing updated earnings guidance for the fourth quarter below current analysts. The company reported third-quarter earnings of 13 cents per share which is inline with analyst estimates.
Netease.com Inc. (NTES)
The provider of Chinese online services and content posted third-quarter results after the bell Wednesday missing analyst estimates. The company reported earnings of 44 cents per depository share on revenue of $128.8 million. Analysts had been expecting earnings of 48 cents per depository share on revenue of $138.7 million. Depository shares were down 10% in pre-market trading on Thursday.
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