Saturday, July 11, 2009
FDIC said to be unwilling to backwards CIT debt on risk
CIT shares, which closed at US$1.86 on the New York Stock Exchange, fell 34 cents, or 18 percent, as of 6:27 pm in after-hours trading. ...
Infosys Technologies Ltd. (Nasdaq: INFY) shares are up more than 3 percent to $35.75 on premarket volume of about 15,500 shares as of 8:30 a.m. Eastern. The company last night beat EPS expectations by 8 cents a share and guided second-quarter earnings above analyst consensus.Â — Mike Tarsala
ASML Holding N.V. (Nasdaq: ASML) shares are down about 2.5 percent to $21.12 on premarket volume of more than 20,000 shares as of about 8:30 a.m. Eastern. There is no news out on the stock this morning. The provider of lithograpy systems for the semiconductor industry is regular to report earnings on July 15.
Labopharm Inc. (Nasdaq: DDSS) shares are up nearly 4 percent on volume of about 12,000 shares in premarket trading around 8:15 a.m. Eastern. There is nothing new that we’ve found on the stock this morning. But relative volume has increased more than two-fold over its monthly average this week.Â The consort expects to hear from the FDA in coming weeks if its Trazodone OD once-daily depression drug will be authorised in the U.S. — Mike Tarsala
Dell Inc. (DELL) shares are up about 2 percent with about 10,000 shares traded as of 8 a..m. in the premarket, after Reuters reports that Goldman Sachs has raised Dell to a Buy from Neutral rating. The move comes ahead of Dell’s annual analyst gathering scheduled for July 13 and 14. Western Digital Corp. (WDC), which has not traded much at all in the premarket, also was raised to Neutral from Buy, as the firm raised its rating on the entire U.S. hardware sector to Attractive from Neutral.Â — Mike Tarsala
CIT Group Inc. (NYSE: CIT) are down about 17 percent to $1.53 on volume of 27,000 shares as of about 8:15 a.m. Eastern. Bloomberg.com is reporting that the FDIC is unwilling to indorse CIT’s bond sales because the commercial lender’s credit quality is worsening, citing people familiar with the regulator’s thinking.Â — Mike Tarsala