Pre-Open Movers 9/16: AIG (AIG) Sinks On Bankruptcy Fear; Goldman (GS) Lower on Results
StreetInsider.com Pre-Open Movers:
American International Group, Inc. (NYSE: AIG) 60% LOWER; Fears the company will have to file bankruptcy if it can't raise a $40-$75 billion in capital quickly. S&P and Moodys' downgrades the companys' credit ratings.
Targacept (NASDAQ: TRGT) 40% LOWER; AstraZeneca (AZN) and Targacept (TRGT) Announce from Phase 2b Study of AZD3480 Did Not Meet Criteria
Morgan Stanley (NYSE: MS) 24% LOWER; continued weakness in financials. Rival Goldman reported weak results.
Goldman Sachs (NYSE: GS) 13% LOWER; reported Q3 results which were better-than-expected on the bottom line but lower-than-expected on the top line. Profits dropped 70% in the quarter. Goldman Sachs reported Q3 EPS of $1.81, 10 cents better than the analyst estimate of $1.71. Revenues for the quarter were $6.04 billion, versus the consensus of $6.23 billion and $12.3 billion in last year's Q3.
Wachovia Corporation (NYSE: WB) 13% LOWER; continued weakness in financials
Best Buy Co., Inc. (NYSE: BBY) 9.6% LOWER; reports Q2 EPS of $0.48, 9 cents lower than the analyst estimate of $0.57. Revenues for the quarter were $9.8 billion, versus the consensus of $9.67 billion. Same store sales for the quarter were up 4.2%. Best Buy reaffirms its previously issued FY09 EPS estimate of $3.25-$3.40, versus the consensus of $3.28, and sales of $47 billion, versus the consensus of $44.72 billion.
Synthesis Energy Systems (Nasdaq: SYMX) 9% LOWER; reports a Q4 loss of $0.32, versus the analyst estimate of ($0.20). Revenues for the quarter were $288K, versus the consensus of $250K.
Merrill Lynch (NYSE: MER) 7% LOWER; continues lower even after this weekend's merger with BofA
Dell (Nasdaq: DELL) 6% LOWER; is seeing further softening in global end-user demand in the current quarter.
Citigroup Inc. (NYSE: C) 6% LOWER; continued weakness in financials
Datascope Corp (NASDAQ: DSCP) 5% HIGHER; Getinge AB has agreed to acquire Datascope Corp. for $53.00 per share, or an aggregate equity value of $865 million in cash.
Apple Inc. (Nasdaq: AAPL) 4.8% LOWER; Goldman removes from Buy List
Synovus Financial Corp. (NYSE: SNV) 4.5% LOWER; Fitch lowers rating, outlook negative.
Merrill Lynch (NYSE: MER) 2.9% HIGHER; Buyout partner BofA trades up after-hours. There was a 25% spread on the deal at the close.
The Kroger Co. (NYSE: KR) 2% LOWER; reports Q2 EPS of $0.42, 1 cent better than the analyst estimate of $0.41. Revenues for the quarter were $18.1 billion, versus the consensus of $17.63 billion.
Bank of America (NYSE: BAC) 1.7% HIGHER; Bounces after today's 21% drop.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+7.85
-0.12Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
