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ITT, AIG: Premarket Trading

NEW YORK ( TheStreet) -- ITT (ITT) plans to split into three publicly traded companies.

Shares of ITT were surging by 16.7% to $61.60 in premarket trading Wednesday.

American International Group (AIG) agreed to sell its 97.6% interest in Nan Shan Life Insurance, Taiwan's third-biggest insurer, for $2.16 billion in cash.

Shares of AIG rose 0.5% to $59.35 in premarket trading.

Pluristem Therapeutics (PSTI) was surging by 14.2% to $2.73 in early trading after National Securities initiated coverage on the stock with a buy rating, according to reports.

Tiffany (TIF) was up 4.7% to $63.40 in premarket trading after it raised its earnings outlook for the fiscal year ending Jan. 31, based on strong holiday sales.

Comverse Technology is likely to pursue a sale of its subsidiary Verint Systems (VRNT), the Wall Street Journal reports.

No premarket trades were reported for Verint. The stock ended Tuesday's trading session at $35.63, up 1.2%.

Arch Coal (ACI) lowered its full-year outlook late Tuesday, saying it now sees adjusted earnings of $1.11 to $1.15 a share, below the $1.25 to $1.40 view it provided in late October.

Shares of Arch Coal fell 3.6% to $34.25 in premarket trading Wednesday.

Cliffs Natural Resources (CLF) agreed to acquire Canada's Consolidated Thompson Iron Mines for $4.95 billion.

The stock fell 0.5% to $84.54.

Lululemon Athletica (LULU) provided a strong outlook, saying it now sees earnings of 55 cents to 57 cents a share for its fiscal fourth quarter ending Jan. 31 on revenue of $237 million to $239 million. Its prior projection was for a profit of 46 cents to 48 cents a share on revenue ranging from $210 million to $215 million.

Shares of the company were popping by 8.1% to $72.65 in early trading Wednesday.

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-- Written by Andrea Tse in New York.

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

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 This material may not be published, broadcast, rewritten, or redistributed.

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