Speculation Lifts McMoRan, Plains Exploration
McMoRan Exploration is exploding higher on a report in the Financial Times that McMoRan Copper & Gold may buy the company. Another unidentified firm is also potentially at play, but wasn't mentioned. Traders are speculating that will be Plains Exploration, which owns a big chunk of the smaller company. MMR is up 48 percent before the bell on my tradeMONSTER platform and PXP rose 24 percent.
Francesca's Earnings and Revenue Beat Consensus
Francesca's Holdings reported third-quarter profit of $0.24 a share on revenue of $72 million. That beat analyst forecasts for earnings of $0.22 and sales of $71.2 million. The retailer also boosted full-year guidance, sending FRAN up by 8 percent in early trading.
Tibco Preannounces Weak Fourth Quarter
Tibco Software preannounced weak results for its fiscal fourth quarter ended Nov. 30. It earned no more than $0.38 a share on revenue of $295 million. Consensus was for $0.44 and $315.9 million, respectively. TIBX drops 14 percent in the premarket.
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