Shares of AT&T (NYSE:T) bounced 1.7% before the opening bell. The announced early Wednesday that it will expand its current internet and voice services to multinational companies in China. Competitors trading on the news include: Verizon (NYSE:VZ) and Sprint (NYSE:S).
Transocean (NYSE:RIG) is popping nearly 2% early Wednesday. The oil drilling giant held a sale of 26 million shares, as the company seeks to raise funds to help refinance its acquisition of Norway rival Aker Drilling ASA.
Despite a 19% rise in profits, Jos A Bank Clothiers Inc. (NASDAQ:JOSB) is falling 5% early this morning. For the third quarter, the company reported a profit of $15 million (54 cents per share), compared to $12.6 million (45 cents per share) last year. Competitors to watch include: The Men’s Wearhouse, Inc. (NYSE:MW) and Macy’s Inc. (NYSE:M).
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Shares of Raytheon (NYSE:RTN) are jumping 3% this morning, after winning approval from the US Congress and the State Department to upgrade Saudi Arabia’s missile defense system for $1.7 billion.
Although a number of banks received a downgrade late Tuesday, large US banks such as Morgan Stanley (NYSE:MS), JP Morgan (NYSE:JPM), Citigroup (NYSE:C), Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), and Goldman Sachs (NYSE:GS) are surging after a joint effort by central banks to inject liquidity into the markets.