6 Early Radar Stocks: Green Mountain Drops 14%, Bank of America Sidesteps Penalties
Shares of Texas Instruments Inc. (NYSE:TXN) dropped 1.2 percent in early trading. Late Thursday, the company reduced its quarterly guidance for the fifth consecutive time. It now expects revenue between $2.99 billion and $3.11 billion for the first quarter, down from $3.02 billion and $3.28 billion. The company cited lower demand for wireless products.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) fell more than 14 percent before the opening bell. Starbucks (NASDAQ:SBUX) announced a new Verismo single-cup coffee system. Starbucks will sell the Verismo in its stores, along with Starbucks-sourced coffee and milk pods.
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Renren Inc. (NYSE:RENN) shares jumped 9.3 percent early Friday. The Chinese social network site announced a fourth quarter profit of $44.3 million, compared to a net loss of $33.9 million a year earlier. Total net revenues also increased 57 percent to $32.8 million.
Zynga Inc. (NASDAQ:ZNGA) shares increased nearly 1 percent this morning. The social gaming company announced three new Zynga Platform partners: Konami Digital Entertainment Co., Ltd., Playdemic and Rebellion.
Bank of America (NYSE:BAC) shares edged slightly higher after reaching a deal with the government to make deeper mortgage cuts than other banks. By doing so, the bank will avoid as much as $850 million in penalties.
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