NEW YORK—Sigma Designs Inc., which makes chips used in set-top boxes and DVD players, posted a higher fourth-quarter profit on a tax benefit and higher sales, but adjusted profit missed expectations, sending shares down 13 percent to $21.91 before the bell.
UnitedHealth Group Inc. shares fell 18 cents to $36.50 in premarket trading, after the health insurer said its first-quarter and full-year results may be squeezed, but believes it is too early for negative conclusions. Fellow insurer Humana Inc. also saw shares dip 79 cents, or nearly 2 percent, to $40.09 in premarket activity, after a Lehman Brothers analyst said he expects more health insurers will follow its lead and lower 2008 expectations.
On the rising side, video game maker Electronic Arts Inc. said Thursday it has launched a hostile $2 billion tender offer for rival Take-Two Interactive Software Inc., the publisher of "Grand Theft Auto."
Take-Two shares rose 79 cents, or 3.2 percent, to $25.70 in premarket activity, having closed Wednesday at $24.91. Electronic Arts is offering $26 per share for the company.
Retailer Target Corp., which has been balancing pressure to sell a credit card portfolio that it once pledged to keep, said Wednesday that it was in talks to sell half of its credit card receivables for about $4 billion. Target did not disclose the potential buyer.
Shares rose 3 cents to $51.12 in the premarket session.
After losing more than half their value the prior day, shares of drug developer Progenics Pharmaceuticals Inc. rose slightly in premarket activity, adding 11 cents, or 2.2 percent, to $5.04. On Wednesday, the company and its partner Wyeth said their constipation drug failed a late-stage clinical trial.
