Stocks in the news: CIT Group, Apple, Accenture, First Solar
CIT Group (CIT) is seeking to cut at least $5.7 billion of debt to help it avoid collapse and return to profitability after nine quarters of losses. CIT asked bondholders to exchange unsecured obligations for new secured debt maturing in four to eight years and preferred shares. Shares jumped over 12 percent at last pre-market trade (8:47 a.m.).
Apple Inc. (AAPL) was upgraded to Buy from Neutral by UBS on bright iPhone prospects. UBS upped its Apple target to $265 from $170.
Accenture (ACN) issued fourth-quarter results and revenue projection below analyst expectations. Shares declined over 1 percent ahead of the bell.
First Solar (FSLR) will be added to the S&P 500. It's replacing Wyeth (WYE), which is being acquired by Pfizer (PFE). FSLR shares jumped over 4 percent in recent pre-market action.
General Electric Co. (GE) is holding discussions on partnerships or an IPO for its NBC Universal unit, CEO Immelt said, as expectations grow about a deal with cable operator Comcast Corp. (CMCSA). GE shares dropped over 2 percent before the bell.
Walgreen Co. (WAG) said September same-store sales jumped 5.3 percent, aided by in-store flu vaccinations and shoppers filling more 90-day prescriptions.
Walmart Stores Inc. (WMT) sees a slow recovery from challenging U.S. business conditions, but slightly better Asia operations, its chairman, Rob Walton, said on Friday.
TELK) announced positive results in an early-stage trial for its Telcyta treatment in patients with advanced non-small cell lung cancer. Shares jumped 20 percent in pre-market trading.
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