Pre-market Movers For Feb 11 (CVS, CADX, S, RAX)

(RTTNews) - Gainers:

CVS Caremark Corp. (CVS) is up 2 percent to $68.35. The company's fourth quarter profit improved from the year-ago quarter. Net revenues for quarter increased 4.6 percent and topped analysts' estimate. The company currently sees first quarter adjusted earnings above Street view and backed its adjusted earnings forecast for fiscal 2014.

Cadence Pharmaceuticals Inc. (CADX) is surging 27 percent to $14.01 based on the news that Mallinckrodt plc (MNK) agreed to acquire the company for $14.00 per share in cash or approximately $1.3 billion. Mallinckrodt expects the acquisition to be immediately accretive to its fiscal year 2014 adjusted earnings per share, and significantly accretive to its fiscal year 2015 adjusted earnings per share.

Sprint Corp. (S) is rising 6 percent to $8.21. The company's fourth quarter net loss narrowed from the year-ago quarter. Operating revenue increased from the same period last year. EBITDA for the quarter improved nearly 40 percent year-over-year. Sprint said it ended the year with 53.9 million Sprint platform subscribers, after adding 58,000 postpaid subscribers, 322,000 prepaid subscribers and 302,000 wholesale and affiliate subscribers in the quarter.

Decliners:

Rackspace Hosting, Inc. (RAX) is falling over 11 percent to $35.61. The company's fourth quarter earnings declined from the year-ago quarter, but matched Wall Street view. Net revenue rose 16 percent and topped the consensus estimate. The company also announced that its chief executive Lanham Napier has retired from the company. Graham Weston, Rackspace's co-founder and Executive Chairman, has been appointed CEO, while the company has initiated a search process to identify a long-term successor CEO.