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EARLY MOVERS: Retailers JC Penney and Sears in the frame in pre-market; Lennar Corp's quarterly profit beats

Also in play in New York pre-market is Skyworks Solutions Inc
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Retailers in the frame in pre-market

In pre-market trade New York, the famous retailer on the brink of demise, Sears Holdings Corp (OTCMKTS:SHLDQ) was again making news, with its shares down 1.28% to $0.38.

The group received another reprieve with a judge Tuesday deciding to give its Chairman Eddie Lampert another chance to buy the retailer out of bankruptcy and save around 50,000 jobs.

Sears had been poised to reject his bid to save the 126-year-old company, which would have put it on a course to liquidation.

Elsewhere, and sticking to the sector, J C Penney Company Inc (NYSE:JCP) shares gained over 2.4% to $1.24 in pre-market trade.

It came as the retailer reported a 3.5% fall in same-store sales for the nine weeks to January 5 and said it would close as-yet-unnamed stores soon.

The company said it still expects to end fiscal 2018 with positive free cash flow and to close the year with cash of more than $2 billion.

Lennar Corp (NYSE:LEN), the Miami based home builder, saw shares shed around 2% to $42.

It came as the company posted a profit for the fourth quarter, which beat analysts' expectations.

The company's profit totaled $796.15 million, or $2.42 per share. That compares with $309.59 million, or $1.29 per share, in last year's fourth quarter.

Analysts had expected the company to earn $1.93 a share.

Skyworks Solutions Inc (NASDAQ:SWKS) shares shed 4.31% to $68 before the bell.

The tech group has updated its guidance for the first fiscal quarter to December 28, 2018 and has lowered revenue projections to $970 million from $1 billion. It also lowered earnings per share (EPS) guidance to a range of $1.81 to $1.84 per share, from an estimated $1.91 per share.


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