10 Stocks to Watch: Kraft, Dendreon, Rio Tinto


NEW YORK (TheStreet) -- Kraft Foods (KFT) plans to split into two: a snacks business and a North American grocery business.

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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