Best Buy: Premarket Trading
NEW YORK (TheStreet) -- Best Buy (BBY) - Get Report earned 54 cents a share in the third quarter, coming in below expectations of 61 cents.
Shares of Best Buy fell 9.1% to $37.90.
>> Best Buy Plunges on Earnings Miss
Real estate investment trust HCP (HCP) - Get Report said it will begin to sell 31 million common shares help fund its previously announced $6.1 billion acquisition of HCR ManorCare's assets.
Shares of HCP inched 1.6% lower to $32.
>> HCP Buys HCR ManorCare Assets for $6.1B
Nokia (NOK) - Get Report is postponing the launch of its next flagship product, the E7, until early next year, losing out the important holiday sales season in developed markets, Reuters reports.
Share of Nokia fell 0.8% to $9.88.
Amgen's (AMGN) - Get Report bone drug Xgeva delayed the spread of cancer to the bones of prostate cancer patients but did not prolong their lives, according to results from a closely watched clinical trial reported Monday night.
Shares of the company jumped by 6.3% to $57.50 in premarket trading Tuesday.
>>Amgen Drug Slows Prostate Cancer Spread
Yahoo! (YHOO) employees could be notified Tuesday the Internet company is laying off 600 to 700 workers, according to reports.
No premarket trades were reported for Yahoo! The stock ended Monday's trading session at $16.70, down 1.8%.
>>Yahoo! Reportedly Set to Cut 5% of Staff
BP (BP) - Get Report agreed to sell almost all of its exploration and production assets in Pakistan to United Energy Group. UEG will pay BP a total of $775 million in cash for these assets which consist of nine producing and exploration blocks in Sindh province and four offshore exploration blocks in the Arabian Sea.
Shares of BP rose 2.6% to $44.56 in premarket trading.
Yingli Green Energy (YGE) has entered into a three-year sales contract with European solar company S.A.G. Solarstrom to supply modules from 2011 through 2013.
Shares of Yingli were up 1.6% to $10.45.
Fiber-optic company Oclaro (OCLR) - Get Report was downgraded to hold from buy by Auriga with the belief that much of the positive news associated with the stock already has been baked in and that the next few quarters are unlikely to exceeded Wall Street forecasts.
Earlier, Oclaro shares tumbled, but are now rebounding, rising 2.4% to $12.55.
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-- Written by Andrea Tse in New York.
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>>Amgen Drug Slows Prostate Cancer Spread
>>Yahoo! Reportedly Set to Cut 5% of Staff
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