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Wednesday, November 11, 2009
Early-Market Movers: Toll Brothers, A123 System
By Michael Goldstein
FOXBusiness
Stock futures were green following another record price for gold, which hit an overnight high of $1.117.80 per ounce.
Here are some of the early-market movers for Tuesday.
Toll Brothers Inc. (TOL)
The luxury homebuilder released preliminary fourth-quarter results after the bell Tuesday showing a steep rise in orders. Analysts at Wells Fargo raised their rating to “outperform” from “market perform” and shares were up 9.5% in pre-market trading on Wednesday.
Palm Inc. (PALM)
Shares were up 3.5% in pre-market trading after analysts at Bank of America Merrill Lynch reiterated their “buy” rating citing an encouraging meeting with senior management.
Pan American Silver Corp. (PAAS)
The company released third-quarter results after the bell Tuesday reporting earnings per share of 20 cents meeting analyst expectations and posting record quarterly gold and silver production. Shares were up 2.5% in pre-market trading on Wednesday
Fuqi International Inc. (FUQI)
The Chinese jewelry manufacturer announced third-quarter results after the bell Tuesday beating analyst earnings estimates. The company reported earnings of 73 cents per share while analysts had been expecting earnings of 44 cents per share. The company also raised their fourth quarter earnings guidance and shares were up 2.7% in pre-market trading on Wednesday.
Sigma Designs Inc. (SIGM)
Shares of the chip manufacturer were down 8.4% in pre-market trading after analysts at Collins Stewart lowered their rating to “sell” from “hold” citing potential loss of market share to Broadcom (BRCM).
A123 Systems, Inc (AONE)
The battery manufacturer announced third-quarter results late Tuesday posting a larger loss than expected on higher revenues. The company reported a loss of $1.78 per share on revenue of $23.6 million. Analysts had been expecting a loss of 33 cents per share on revenue of $19.2 million. Shares were down 4% in pre-market trading Wednesday.






