This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

A-Power, State Street: Premarket Trading

(Premarket story updated to reflect share prices changes and more stock news)

NEW YORK ( TheStreet) -- Shares of Chinese power generation systems provider A-Power Energy ( APWR ) tanked by 20.6% to $5.05 in premarket trading after the company reduced its full-year revenue guidance to $310 million from a previously expected $500 million, and cut its net income forecast to $50 million from a previously expected $60 million.

A-Power cited softness in the wind energy business and a shortage of turbine purchases from the company.


Shares of Royal Bank of Scotland (RBS) rose 4.7% to $12.31 before the market open as the company announced it has completed the sale of its Global Merchant Services business to an investment consortium consisting of Advent International and Bain Capital,. RBS maintains a minority stake in the new GMS business to be called WorldPay.


Shares of India-based automaker Tata Motors (TTM) rose 3.3% to $33.80 in premarket trading after reporting a 1% increase in November sales to 54,622 units from 54,108 the same period last year.


Shares of German conglomerate Siemens (SI) advanced by 3.5% to $113.63 in premarket trading. Dow Jones reports the company plans on ramping up market share in city infrastructure after an interview with Siemens strategy chief Roland Busch.

Dow Jones also reported Siemens has won approval for its bid to install the control offices of the Berlin-Brandenburg international airport.


State Street (STT) said late Tuesday it was cutting 1,400 jobs, or 4% of its work force, as part of a restructuring plan.

Shares ended Tuesday's trading session down 1.1% at $43.20.


Chinese lithium battery maker Advanced Battery Technologies (ABAT) plans to raise $30 million in fresh capital through a dilutive stock sale. The news sent shares tumbling; the stock was adding 2.4% to $3.88 in premarket trading.


Youth specialty retailer Aeropostale (ARO) reports third-quarter earnings Wednesday. Wall Street is calling for earnings of 66 cents a share on revenue of $605.98 million. The stock rose 1.7% to $27.50 before the market open. TEXT


Banco Santander (STD) shares took a tumble Tuesday afternoon on concerns that it would require a financial bailout. Shares have regained traction in premarket trading, rising 5.9% to $10.19.


The European Commission on Tuesday said it turned down a request by ING (ING) to redeem a $1.5 billion hybrid capital instrument from private investors, the Wall Street Journal reported. Although shares ended down 5.1% to $8.84 at Tuesday's closing bell, they're gaining traction before the bell on Wednesday, higher by 5.2% to $9.30.

More on Earnings
Today's Top Earnings
Earnings Calendar

-- Written by Andrea Tse in New York.



>To contact the writer of this article, click here: Andrea Tse.

>To follow the writer on Twitter, go to Andrea Tse.

>To submit a news tip, send an email to: tips@thestreet.com.

RELATED STORIES:



Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,157.86 +126.72 0.74%
S&P 500 1,999.07 +14.94 0.75%
NASDAQ 4,545.4490 +26.5470 0.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs