Futures were in the red Friday morning coming off Thursday’s 200-point rally as traders work through personal income and spending numbers and wait for consumer sentiment data and Chicago PMI releases.
Here are some of the early-market movers for Friday.
Genworth Financial Inc. (GNW)
Genworth posted a surprise third-quarter profit after the bell Thursday reporting earnings of 4 cents per share on revenue of $2.34 billion. Analysts had been expecting a loss of 2 cents per share on revenue of $2.52 billion. Shares were up 12.7% in Friday’s pre-market trading.
AXT Inc. (AXTI)
Shares of the semiconductor product manufacturer were up 14% in pre-market trading after beating estimates with third-quarter results. The company reported earnings of 7 cents per share with revenue of $16.8 million. Analysts were expecting a loss of 2 cents per share on revenue of $14.4 million.
VIVUS, Inc. (VVUS)
Shares were up 9.2% after the company presented additional trial data for its Qnexa obesity drug and said it expects to file a New Drug Application with the FDA by the end of 2009.
Novatel Wireless Inc (NVTL)
Despite posting strong third-quarter results after the bell Thursday, Novatel shares were down 20.36% in Friday’s pre-market trading. The company reported non-GAAP earnings of 24 cents per share on revenue of $94.3 million. Analysts were expecting earnings of 10 cents per share on revenue of $92.5 million but the company said it anticipate sales of its flagship mobile Wi-Fi product would be flat to down could in the fourth quarter lowering its revenue guidance below current estimates.
Tessera Technologies, Inc. (TSRA)
The micro-electronics manufacturer beat expectations for the third quarter, but lowered guidance for the fourth quarter causing shares to drop 10.1% in pre-market trading Friday. After the bell Thursday the company posted earnings of 37 cents per share per on revenue of 66.1 million while analysts were expecting earnings off 21 cents per share on revenue of $65.7 million.
Ruth's Hospitality Group Inc (RUTH)
The upscale steakhouse chain released third-quarter earnings Friday, posting a wider-than-expected loss. The company reported a loss of 4 cents per share on revenue of $77.8 million while analysts expected a loss of 2 cents per share on revenue of $80.66 million.
First Horizon loss narrowsEarly-Market Movers: Harvest Energy, Equinix
