Pre-Market NASDAQ Movers (ABFS, CLWR, BIDU, BRCD, SPPI, TGE, NANO, QLIK, CSTR, ZIXI)
The top pre-market NASDAQ Stock Market gainers are: Arkansas Best, Clearwire, Baidu, Brocade Communications Systems, and Spectrum Pharmaceuticals. The top pre-market NASDAQ Stock Market losers are: TGC Industries, Nanometrics, Qlik Technologies, Coinstar, and Zix Corp.
Gainers
Arkansas Best Corp. (ABFS) stock climbed 13.91 percent to $23.75 in the pre-market trading. Profit for the third quarter was $12.27 million or $0.46 per share, compared to a loss of $749,000 or $0.03 per share last year. Revenue grew to $510.89 million from $445.53 million. Analysts had expected profit of $0.31 per share on revenue of $501.06 million.
Clearwire Corp. (CLWR) stock jumped 10.99 percent to $2.12 in the pre-market trading. Sprint Nextel Corp. (S) and Clearwire are near an agreement to extend their existing network- sharing agreement for three to five years, according to the Bloomberg, citing people familiar with the matter. The deal would allow Sprint to use Clearwire’s network to provide services to its customers after the current pact expires at the end of 2012. Though details are still being negotiated and a final accord isn't certain, the price Sprint pays for Clearwire to handle its traffic is likely to fall, the people told Bloomberg.
Baidu, Inc. (BIDU) stock grew 7.20 percent to $148.35 in the pre-market trading. Profit for the third quarter grew 79.8 percent to $295 million. Earnings per American Depository Share (ADS) were $0.84, while earnings excluding share-based compensation expenses were $0.86 per ADS. Revenue surged 85.1 percent to $654.7 million. Analysts had expected profit of $0.83 per share on revenue of $618.60 million. Looking ahead into the fourth quarter, the company expects revenue of $691.4 million to $711 million, while Street predicts $647 million.
Brocade Communications Systems, Inc. (BRCD) stock gained 5.86 percent to $4.70 in the pre-market trading. The company may be back to looking at prospective buyers, according to the Wall Street Journal citing people familiar with the matter. The company had hired investment bank Qatalyst Partners in 2009 to look for prospective buyers for it, which did not result in a sale, the paper reported.
Spectrum Pharmaceuticals, Inc. (SPPI) stock increased 5.15 percent to $10.20 in the pre-market trading. Profit for the third quarter was $20.25 million or $0.34 per share, compared to a loss of $4.59 million or $0.09 per share last year. Adjusted profit was $21.59 million or $0.40 per basic share, compared to a loss of $4.17 million or $0.08 per basic share last year. Revenue grew to $51.02 million from $16.74 million. Analysts had expected profit of $0.10 per share on revenue of $40.17 million.
Losers
TGC Industries Inc. (TGE) stock plunged 18.88 percent to $4.94 in the pre-market trading. Dawson Geophysical Co. (DWSN) said that TGC Industries has terminated the definitive merger agreement pursuant to which Dawson would have acquired TGC in a tax-free stock-for-stock transaction.
At TGC's Special Meeting of Shareholders on Oct. 27, TGC did not receive the necessary votes for the approval of the Merger Agreement. The approval of the Merger Agreement required the affirmative vote of at least 80 percent of the TGC outstanding common stock on Aug. 29. As a result of the failure to receive the requisite shareholder vote, TGC terminated the Merger Agreement.
Nanometrics Inc. (NANO) stock slumped 17.73 percent to $15.50 in the pre-market trading. Profit for the third quarter was $7.6 million or $0.32 per share, down from $12.3 million or $0.53 per share last year. Revenue rose 8 percent to $58.3 million. Analysts had expected profit of $0.31 per share on revenue of $58.27 million. Looking ahead into the fourth quarter, the company expects earnings of $0.01 to $0.07 per share and revenue of $40 million to $44 million, while Street predicts profit of $0.36 per share on revenue of $60.65 million.
Qlik Technologies, Inc. (QLIK) stock fell 9.94 percent to $26 in the pre-market trading. Adjusted profit for the third quarter was $4.1 million or $0.05 per share, up from $0.4 million or break-even per share last year. Revenue grew 50 percent to $75.5 million. Analysts had expected profit of $0.02 per share on revenue of $72.20 million.
Looking ahead into the fourth quarter, the company expects adjusted earnings of $0.24 to $0.28 per share and revenue of $102 million to $107 million, while Street predicts profit of $0.25 per share on revenue of $109.32 million. For the full year 2011, the company raised its adjusted earnings guidance to range of $0.27 to $0.31 per share from previous forecast of $0.26 to $0.30 per share. The company narrowed its 2011 revenue outlook to range of $315 million to $320 million from previous range of $310 million to $320 million. Street analysts predict profit of $0.26 per share on revenue of $318.07 million for the fiscal 2011.
Coinstar, Inc. (CSTR) stock tumbled 7.48 percent to $48.99 in the pre-market trading. The company said it is raising the price for renting a redbox standard definition DVD would increase to a daily rate of $1.20 from $1.00, effective Oct. 31. The company said the prices for Blu-ray format movie rentals and for video game rentals will not change and the daily rates will continue to be $1.50 and $2.00, respectively.
The company reported third quarter earnings of $37.13 million or $1.18 per share, up from $19.51 million or $0.60 per share last year. Revenue grew 22.5 percent to $465.62 million. Analysts had expected profit of $0.88 per share on revenue of $462.05 million.
Looking ahead into the fourth quarter, Coinstar expects earnings from continuing operations of $0.57 to $0.67 per share and revenue of $485 million to $510 million, while Street predicts profit of $0.77 per share on revenue of $482.27 million. For the fiscal 2011, the company raised its earnings from continuing operations guidance to range of $3.15 to $3.25 per share from previous forecast of $2.90 to $3.15 per share. The company narrowed its 2011 revenue outlook to range of $1.81 billion to $1.835 billion from previous range of $1.76 billion to $1.85 billion. Street analysts predict profit of $3.09 per share on revenue of $1.80 billion.
Zix Corp. (ZIXI) stock slid 6.35 percent to $2.36 in the pre-market trading.
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