Courtesy of Benzinga.
Gainers
Demandware Inc (NYSE: DWRE) rose 56.19 percent to $74.97 in pre-market trading as salesforce.com, inc. announced plans to buy Demandware in a $2.8 billion deal.
Michael Kors Holdings Ltd (NASDAQ: KORS) shares rose 10.02 percent to $47.00 in pre-market trading as the company reported better-than-expected Q4 earnings and issued a strong FY earnings forecast. The company announced a new $1 billion share buyback program. Michael Kors also revealed that it completed Michael Kors (HK) Limited acquisition, the exclusive licensee of the Company in China and some other jurisdictions in Asia.
Pacific Biosciences of California (NASDAQ: PACB) rose 3.73 percent to $10.00 in pre-market trading. Pacific Biosciences has been mentioned as a possible takeover target by Roche on Tuesday.
Whole Foods Market, Inc. (NASDAQ: WFM) shares rose 2.10 percent to $33.03 in pre-market trading. Credit Suisse upgraded Whole Foods from Neutral to Outperform and raised the price target from $30.00 to $40.00.
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Losers
Nike Inc (NYSE: NKE) shares 3.69 percent to $53.18 in pre-market trading. Morgan Stanley downgraded Nike from Overweight to Equal-weight and lowered the price target from $69.00 to $60.00. Bank of America also downgraded the stock from Buy to Neutral and lowered the price target from $72.00 to $60.00.
Under Armour Inc (NYSE: UA) shares fell 3.29 percent to $36.49 in pre-market trading as the company lowered its guidance for FY16. The company now projects revenue of $4.925 billion, with operating income now expected to range from $17-$19 million. It also expects an impairment charge of $23 million due to The Sports Authority restructuring.
Freeport-McMoRan Inc (NYSE: FCX) shares fell 2.80 percent to $10.77. On Tuesday, Freeport-McMoRan revealed that it completed its previously announced sale of a 13 percent stake in its Morenci unincorporated joint venture to Sumitomo Metal Mining Co. Ltd. (SMM) for cash consideration of $1.0 billion.
salesforce.com, inc. (NYSE: CRM) shares fell 2.07 percent to $82.00 in pre-market trading after the company announced plans to buy Demandware in a $2.8 billion deal.
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