4 Stocks Making Big Moves in Early Trading
Microsoft‘s (NASDAQ:MSFT) attempt to to avoid paying $290 million to a i4i Inc., a Toronto-based firm that accused Microsoft of violating its patents, has been rejected by the Supreme Court. A lower court had already ruled in favor of the plaintiff, but Microsoft appealed on the grounds that the lower court had used the wrong legal standard to determine the penalty, but the Supreme Court upheld that ruling. Microsoft shares are down 0.21% in pre-market trading.
CenturyLink (NYSE:CTL) announced late Thursday that it has priced $2 billion of debt securities, proceeds from which will be used to acquire Savvis Inc. (NASDAQ:SVVS). The deal is expected to close later this year.
National Semiconductor Corp. (NYSE:NSM) reported their fourth quarter results late yesterday with net income down from $79.2 million during the same period last year to $67.1 million, a difference of 7 cents a share. Shares are still up 69.87% for the year after shooting up in April when they announced their sale to Texas Instruments (NYSE:TXN). Check out our National Semiconductor Earnings Cheat Sheet.
Lululemon Athletica Inc. (NASDAQ:LULU) announced this morning that its fiscal first-quarter profit rose to $33.4 million from $19.6 during the same period a year, or 46 cents a share, well above the projected earnings of 38 cents a share. Revenue rose to $186.8 million from $138.3 million, and same-store sales were up 16%. Lululemon is predicting second quarter earnings of 42 to 44 cents a share. Shares in the yoga apparel maker are up 6.70% so far this morning in pre-market trading.
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