Pre-market: Hurray! profit rises

Shares of Hurray! Holding Co., Ltd. (Nasdaq: HRAY) are rising on news after Thursday’s close that the Chinese provider of music and music-related products reported an increase in profit.  The net income for the first quarter ended March 31 was $1.0 million, a rise of 3.8% compared with $0.9 million for the first quarter of 2006.  Earnings stayed constant at $0.04 per share, just above analyst expectations of $0.03 per share.  The stock is up $0.02, or 0.41%, to $4.85.

Shares of Lancaster, Pa.-based Sterling Financial Corp. (Nasdaq: SLFI) announced after Thursday’s close that an ongoing investigation has shown that previously reported irregularities in certain financing contracts in one of Sterling’s financial services affiliates are a direct result of collusion by company employees.  Shares have added $0.80, or 5%, to $16.16.

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