Premarket Movers: State Street sinks on offering
By
Associated Press
June 4, 2008
|
Shares of State Street Corp. fell in premarket trading Wednesday after the financial-services firm announced a $2.5 billion stock offering.
Shares lost $1.83, or 2.6 percent, to $69.53.
Homebuilder Hovnanian Enterprises Inc. on Tuesday evening said second-quarter losses grew tenfold from a year earlier as it reported its seventh consecutive negative quarter. Shares dropped 6.4 percent to $7.80 from Tuesday's close of $8.34.
Information technology company Tibco Software Inc. late Tuesday reported preliminary second-quarter earnings and revenue below analyst estimates, sending shares down 7.6 percent to $7.13 in premarket action.
Apparel designer and retailer Guess Inc. said Tuesday its fiscal 2009 first-quarter profit jumped 35 percent, beating Wall Street expectations, on strong growth and better margins in Europe and Asia. Shares jumped $3.38, or 9 percent, to $41.25.
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