10 Stocks to Watch: Kraft, Dendreon, Rio Tinto
Shares were rising 7.2% to $36.76 during premarket trading Thursday.
Dendreon (DNDN) shares were plunging 62.9% to $13.29 in premarket trading after drug company reported weaker-than-expected Provenge sales in the second quarter and withdrew revenue guidance for the remainder of the year due to reimbursement issues.
Provenge sales in the quarter totaled $49.6 million including a nearly $2 million reserve for chargebacks and rebates, but still fell far below Wall Street's expectations that ranged from $55 million to $60 million.
Shares of Rio Tinto (RIO) were tumbling 7.1% to $62.40 after the mining giant reported first-half underlying profit of $7.8 billion, below the analyst consensus target of $8.03 billion.
Consumer goods company Unilever (UL) saw its stock rise 4.5% to $33.03 in premarket trading after it reported a 10% jump in first-half earnings. The company said it successfully passed higher input costs to customers.
Automaker General Motors (GM) reported second-quarter profit of $1.54 a share , above the average analyst estimate of $1.20 a share. Shares were rising 2.7% to $27.90.
Pfizer (PFE), which loses patent protection on Lipitor in November, is interested in selling an over-the-counter version of the world's best-selling drug, according to report in The Wall Street Journal report. Shares were slipping 0.6% to $17.92 during the premarket session.
Wholesale retailer Costco (COST) topped analysts' expectations with monthly same-store sales growth of 10%. Shares were ticking up 0.3% to $77.08.
Pharmacy retail chain CVS (CVS) reported second-quarter earnings of 65 cents a share, beating estimates by a penny.
Alcoholic beverages company Fortune Brands (FO) posted second-quarter profit of 71 cents a share vs. the average analyst estimate of 98 cents a share.
Southwest Airlines (LUV) reported second-quarter adjusted earnings of 15 cents a share, below the average analyst estimate of 20 cents a share. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
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