6 Hot Early Movers: Citigroup Falls 2%, RIMM Faces Legal Setback, and Marth Stewart Surges 28%
Shares of Citigroup (NYSE:C) fell nearly 2% before the opening bell. Late Tuesday, the bank announced it was cutting 4,500 jobs to reduce expenses. Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) are also trading lower.
Research in Motion (NASDAQ:RIMM) is edging lower in early trading. The company experienced a legal hurdle in using the BBX name for its new generation of smart phones. The BBX name has already been trademarked by Basis International Ltd.
Monsanto (NYSE:MON) is bouncing .50% higher after raising fiscal fiscal first quarter guidance to a range of 15 cents to 20 cents per share. Previously, the company expected 10 cents to 15 cents per share.
Shares of Martha Stewart Living Omnimedia Inc. (NYSE:MSO) are surging 28% after J.C. Penney (NYSE:JCP) said it was buying a 16.6% stake in the company. “Beginning in February 2013, customers will be able to visit distinct Martha Stewart retail stores inside the majority of J.C. Penney department stores,” the companies said in a joint press release.
Investing Insights: Rumors Continue to Swirl About an Apple Television.
Scotts Miracle-Gro Co. (NYSE:SMG) received a .25% boost despite warning against a weaker first quarter. Due to poor weather conditions, sales are expected to suffer. The company expects its loss to expand to $1.20 to $1.25 per share, compared to a loss of 99 cents last year.
Imax Corp. (NASDAQ:IMAX) is heading lower after signing agreements to place its digital systems in four Chinese theaters by the end of 2014. Two of the systems will be installed in the cities of Tianjin and Guangzhou, while locations for the other two were not announced.
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