These stocks are all making big moves in pre-market trading this morning:
1) Royal Bank of Scotland (NYSE:RBS) is up 2% in pre-market trading this morning. The U.K.-based bank made headlines in reaching a deal to sell its 25% stake in a group of U.K. commercial-property loans to private equity buyer Blackstone Group (NYSE:BX). The loans are worth over $2.2 billion collectively. Earlier this week the Financial Times reported that the Bank of Tokyo is in late stage talks to purchase RBS’s Australian Unit, valued at over $5 billion.
2) Eastman Kodak (NYSE:EK) getting slammed in pre-market trading, down 14.5% on news that the company lost a patent infringement case against Apple (NASDAQ:AAPL) and Research in Motion (NASDAQ:RIMM). Kodak’s CEO said a legal win could have brought in an additional $1 billion in cash. Kodak has previously won infringement suits over the same patent against Samsung (NYSE:SEO) for $550 million and another company for $440 million.
3) NetApp (NASDAQ:NTAP) gets a bump of 1.52% this morning after Goldman Sachs (NYSE:GS) announced it is raising its price target on the data storage company. Yesterday NetApp held its annual analysts day, presenting optimistic data for the next two fiscal years and insights into the company’s long term strategy, an approach that clearly paid its dividends.
Get Actionable Investing Insights: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month!