Nokia Corporation Retreats On Profit Booking – SCO, PVH, NOK, ZNGA, SAFM
Discovery Laboratories, Inc. (NASDAQ:DSCO) stock surged 10.67% to $3.11. Analysts at Stifel Nicolaus initiated coverage on shares of Discovery Laboratories in a research report issued to clients and investors last week. The firm set a “buy” rating and a $5.00 price target on the stock. The company is a biotechnology company developing surfactant therapies to treat respiratory disorders and diseases.
PVH Corp (NYSE:PVH) stock jumped 5.88% to $93.73 after the company posted second quarter net income of $87.7 million or $1.19 per share, as against $66.7 million or $0.92 per share for the year-ago quarter. Adjusted net income was $92.0 million or $1.25 per share. Total revenue grew to $1.34 billion from $1.33 billion in the same quarter last year. Analysts expected the company to earn $1.20 per share on revenue estimate of $1.34 billion for the second quarter.
Nokia Corporation (ADR) (NYSE:NOK) shares declined 4% to $3.12 in the early hour. However, Analysts believe that Nokia Corporation and Microsoft Corporation emerged as beneficiaries of Apple Inc’s success in its patent infringement fight against Samsung Electronics Co.
Additionally, Dow Jones reported that Nokia Oyj and other companies launched on August 23, 2012 an Accurate Mobile Indoor Positioning Industry Alliance, called In-Location, to promote deployment of location-based indoor services and solutions.
Zynga Inc (NASDAQ:ZNGA) stock increased 0.33% to $3.07 in the pre-market hour. MURRAY FRANK LLP announced that it has filed a class action complaint in the United States District Court for the Northern District of California captioned Yan v. Zynga Inc. et al., 12 Civ. 4360. The lawsuit is filed on behalf of purchasers of securities of Zynga Inc. between December 16, 2011 and July 25, 2012, inclusive (the Class Period). The lawsuit alleges violations of the Securities Exchange Act of 1934 (the Exchange Act) that occurred when the Defendants issued materially false and misleading statements regarding the Company’s business and prospects.
Sanderson Farms, Inc. (NASDAQ:SAFM) shares gained 7.02% to $43.44 after the company reported third quarter profit of $28.7 million, or $1.25 a share, as compared with a year-earlier loss of $55.7 million, or $2.51 a share. Sales rose 22% to $624.9 million. Analysts recently expected per-share earnings of $1.20 on revenue of $620 million.
