KITD, GLUU, JRCC, MITK, LIVE, ARNA, KSWS Are The Pre-Market Movers for May 3

A list of NASDAQ stocksStock futures are pointing modestly higher this morning as investors await a slate of data and digest GM’s earnings release. Europe still remains a concern, though two bond auctions in France and Spain went off without a major event. Yields rose in Spain, but the auction was heavily subscribed. Currently the Dow futures are up 13 points. The Nasdaq and S&P futures are also trading modestly higher, both up 4 and 2 points respectively.

Most market watchers are expecting a sideways day as investors gear up for the unemployment report tomorrow. Expectations are for job creations numbers to come in at 169k and the unemployment rate staying unchanged at 8.2%.

After the disappointing ADP numbers yesterday, the weekly jobless claims may give the market a boost after they declined 27k to 365k. At 10am EST, the ISM non-manufacturing purchasing index will be released.

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Commodities are trading nearly flat to slightly negative this morning. Nymex crude futures are down fractionally to $105.04 per barrel. Gold prices are off half a percent to $1,645.80.

Pre-Market Movers

KIT digital, Inc. (NASDAQ:KITD) is down 10.09% this morning at $5.70. KITD has traded 222 thousand shares so far today and trades 1.29 million shares a day on average. KITD shares have been halted this morning with pending news. The company has a market cap of 300.52 million.

Glu Mobile, Inc. (NASDAQ:GLUU) is up 5.42% in pre market trading at $4.86. GLUU has traded about 6 thousand shares so far today and trades 2.5 million shares a day on average. Glu Mobile saw its first quarter loss more than double as the company spends to expand. The results were better than expected though as the company lost $0.11 per share in the first quarter. Glu Mobile expects to break even by the fourth quarter. The company has a market cap of 295.23 million.

James River Coal Co. (NASDAQ:JRCC) is up 4.10% today at $4.82. JRCC has traded 17 thousand shares in pre market trading and trades 2.3 million shares a day on average. James River reported first quarter results earlier today. The company beat EPS estimates by $0.21 and beat on revenue. The company has a market cap of 160.69 million.

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Mitek Systems Inc. (NASDAQ:MITK) is down 45.33% in pre market trading at $3.16. MITK shares are plummeting on its second quarter results. Mitek Systems reported total revenue of $1.2 million for the second quarter compared to $2.9 million a year ago. It reported a loss of $0.11 per share compared to a net income of $0.02 per share a year prior. The company has a market cap of 142.66 million.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is up 2.69% today at $2.67. ARNA has traded 20 thousand shares in pre market and trades 10.1 million shares a day on average. ARNA shares will continue to see a lot of action ahead of its FDA decision date later this month. The company has a market cap of 469.10 million.

K-Swiss Inc. (NASDAQ:KSWS) is down 8.93% in pre market trading at $3.16. KSWS trades 192 thousand shares a day on average. K-Swiss reported first quarter results this morning and missed EPS estimates by $0.06, but beat on revenue. EPS came in at $0.19 (loss) and revenue was $69.3 million. The company has a market cap of 123.53 million.

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About Kyle Pinder

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.

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