Pre-market Movers For Aug 15 (WMT, CSCO, VLTR, ONXX, MBWM, FBMI)

(RTTNews) - Gainers:

Volterra Semiconductor Corp. (VLTR) is surging 53 percent to $22.76. The company agreed to be acquired by Maxim Integrated Products, Inc. (MXIM) for $23 per share. The transaction is valued at approximately $605 million in equity value or $450 million, net of Volterra's cash position of approximately $155 million.

Decliners:

Wal-Mart Stores Inc. (WMT) is down more than 2 percent to $74.60. The company's second quarter profit improved from the previous year period. Total revenues improved 2.3 percent, but were below Wall Street view. Walmart U.S. comparable sales declined 0.3 percent in the 13-week period, excluding fuel. The company forecast third quarter earnings below analysts' estimate and also lowered its full-year earnings and net sales outlook due to challenging sales and operating environment.

Cisco Systems, Inc. (CSCO) is falling 8 percent to $24.13. The company's fourth quarter profit improved from the year-ago quarter and its adjusted earnings per share topped Wall Street estimate by a penny. Revenues for the quarter rose 6.2 percent and were in line with the consensus estimate. The company also announced its plan to cut 4000 jobs and gave a weak outlook.

Onyx Pharmaceuticals, Inc. (ONXX) is falling 4 percent to $118.30.

Trading halt:

Trading in shares of Mercantile Bank Corp. (MBWM) and Firstbank Corp. (FBMI) were halted. The companies signed a definitive merger agreement to merge to create one of the largest banking institutions headquartered in Michigan.