Pre-market Movers For Sept 24 (AMAT, KBH, KMX, LEN, NOV, FB, CY, LFVN)

(RTTNews) - Gainers:

Applied Materials, Inc. (AMAT) is up 6 percent to $17.03. The company and Tokyo Electron Limited announced a definitive agreement to merge in an all-stock combination which values the new combined company at about $29 billion or 2.8 trillion yen. After the close, Applied Materials shareholders will own approximately 68 percent of the new company and Tokyo Electron shareholders approximately 32 percent.

CarMax Inc. (KMX) is rising 4 percent to $52.01. The company's second quarter profit and revenues improved from the previous year period and topped Wall Street view. The company said that the improvement in results was driven by several contributors, including double-digit growth in used and wholesale unit sales and CAF income.

National Oilwell Varco, Inc. (NOV) is up over 2 percent to $80.68. The company announced that its board has authorized the company to move forward with the exploration of a plan to spin-off its distribution business, creating two stand-alone, publicly traded corporations.

Lennar Corp. (LEN) is up 1 percent to $34.89 as the company's third quarter results topped Wall Street view. The company also said that its outlook is bright, citing improving demand.

Facebook, Inc. (FB) is rising nearly 2 percent to $48.08.

Decliners:

Cypress Semiconductor Corp. (CY) is down over 9 percent to $10.34. The company lowered its third quarter guidance and also provided preliminary fourth quarter guidance, expecting a 9-11 percent sequential decline from the revised third quarter revenue estimate. The company said it is seeing greater than expected weakness in its mobile handset revenues, mainly within Asia, due to a customer push out of certain new handset programs to first quarter, as well as order reductions at various end customers in China to balance inventory levels.

KB Home (KBH) is down 2 percent to $16.70. The company's third quarter profit improved from the year-ago and came above Wall Street view. Total revenues rose 29 percent, but missed the consensus estimate. Homes delivered increased 6 percent. The company said it believe that the recent slower pace of the recovery caused by an uptick in mortgage interest rates is a temporary effect and that it expects to see steady upward demand for housing as consumers adjust to both higher rates and pricing.

Trading halt:

Trading in shares of Lifevantage Corp. (LFVN) was halted. The company announced that it would begin its prior announced modified Dutch auction tender offer today. Through the tender offer, the firm would offer to buy up to $40 million of its stock at a price per share not less than $2.45 and not greater than $2.80.