What's Shaking: Friday's Early Movers
Take a look at some of Friday morning's early movers:
Alcoa —The company announced it would cut smelting capacity by 12 percentbecause of slowing demand and falling prices. It will take a charge of 15 to 16 cents per share for its fourth quarter as a result, pushing it to a loss. Alcoa announces its earnings after the close on Monday.
Best Buy —The electronics retailer reported same-store sales that declined, but reaffirmed its guidance.
Family Dollar —Fiscal first quarter earnings did match Wall Street estimates but revenue missed analyst expectations.
Ruby Tuesday —The restaurant operator swung to a fiscal second quarter loss and also lowered its profit outlook for the full year.
RF Micro —The chipmaker projects fiscal third quarter numbers below analyst estimates, citing poor customer demand.
Eastman Kodak —The former blue chip may come under more pressure, as S&P follows Moody’s in lowering its debt ratings for the former blue chip.
Transocean —Chief financial officer Ricardo Rosa steps down after just two years on the job. The company provided no explanation as to why Rosa departed.
Apollo Group —The for-profit education company chalked up its first growth in new enrollment figures in a year.
Shoe Carnival —The shoe retailer cut its fiscal fourth quarter outlook, saying warmer-than-normal weather has cut into sales of boots.
TD Ameritrade —Deutsche Bank upgrades the stock to "buy" from "hold," while downgrading Charles Schwab and Legg Mason to "hold" from "buy."
Boeing —The Dow component has been added to Citi's "Top Picks Live", with the firm maintaining its "buy" rating on the stock.
Intel —Sterne Agee downgrades the stock to "neutral" from "buy," citing potential 2012 headwinds in Intel's core PC market.
Goldman Sachs —Downgraded to "market perform" from "outperform" at Wells Fargo, which says global growth challenges are offsetting an attractive valuation.
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