Gainers:
Alcoa Inc. (AA: Quote) is gaining nearly 2 percent to $9.27. The company swung to a profit in its fourth quarter. Sales for the quarter declined from the year-ago quarter, but topped the consensus estimate. Alcoa sees global aluminum demand growth of 7 percent in 2013, up from 6 percent in 2012.
Constellation Brands Inc. (STZ: Quote) is rising nearly 5 percent to $37.75. The company’s third quarter earnings and net sales improved from the year-ago quarter and were above Wall Street view. The company also raised its fiscal 2013 earnings per share guidance.
Clearwire Corp. (CLWR: Quote) is rising over 7 percent to $3.13 based on the news that it has received an unsolicited, non-binding proposal from DISH Network Corp. (DISH). The offer price outbids the $2.97 per share offer Sprint had earlier made to buy the 50 percent stake it does not already own in Clearwire.
Decliners:
Apollo Group Inc. (APOL: Quote) is falling over 9 percent to $18.98. The company’s first quarter earnings and net revenue declined from the year-ago quarter. University of Phoenix degreed enrollment fell 14.3 percent, while new degreed enrollment declined 15.1 percent from the year-ago quarter. The company also lowered the top end of its fiscal year 2013 revenue guidance.
Bank of America Corp. (BAC: Quote) is down more than 1 percent to $11.84.
PNC Financial Services Group Inc. (PNC: Quote) is down over 2 percent to $58.83. The company disclosed that certain actions it took in the fourth quarter of 2012 associated with its residential mortgage banking activities along with other items will reduce its net income by about $0.47 per share. Meanwhile, the company currently expects its fourth quarter earnings per share, excluding the net impact of these actions, to exceed the current consensus estimate of $1.57.
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by RTT Staff Writer
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