Pre-market Movers For May 4 (CTSH, CMCSA, ARRY, TSN, MCD, MGM, BLUE, CSCO, PMFG)

(RTTNews) - Gainers:

Cognizant Technology Solutions Corp. (CTSH) is gaining 6 percent to $62.60 as its first quarter results were above Wall Street view. The company also raised its full year revenue and earnings per share guidance slightly to reflect the over-performance during the first quarter.

Comcast Corp. (CMCSA) is up 2 percent to $59.57. The company's first quarter adjusted earnings per share and revenue were above Wall Street view. Further, the company announced plans to repurchase an additional $2.5 billion of stock during 2015.

Array BioPharma, Inc. (ARRY) is jumping 11 percent to $7.01. The company swung to a profit in its third quarter. Revenue declined from the prior year period, but topped Street view.

Decliners:

Tyson Foods, Inc. (TSN) is down six-tenths of a percent to $40.25. The company's second quarter earnings per share topped Street view, while sales missed the consensus estimate. The company noted that its fiscal second quarter is seasonally challenging, but came in above its projections due to strong performances in Prepared Foods and Chicken segments.

McDonald's Corp. (MCD) is down 1 percent to $96.34. The company announced the initial steps of its turnaround plan including a restructuring of worldwide business and financial updates. The company expects to refranchise 3,500 restaurants by the end of 2018. The company also plans to return $8 billion to $9 billion to shareholders in 2015 and to reach the top end of its 3-year $18 to $20 billion cash return to shareholders target by the end of 2016.

MGM Resorts International (MGM) is down 3 percent to $20.64. The company's first quarter profit improved from the year-ago quarter. Revenues for the quarter declined from the year-ago period and missed the consensus estimate.

bluebird bio, Inc. (BLUE) is down 3 percent to $135.00.

Cisco Systems, Inc. (CSCO) is down 0.45 percent to $29.00 based on the news that John Chambers, currently CEO and Chairman, will remain on the board and assume the role of Executive Chairman on July 26. The company has appointed Chuck Robbins as new Chief Executive Officer.

Trading halt:

Trading in shares of PMFG, Inc. (PMFG) was halted. CECO Environmental Corp. ( CECE) has agreed to acquire PMFG for cash and stock valued at $6.85 per share. CECO expects the transaction to be accretive in 2016.