The top pre-market NASDAQ stock market gainers are: Shanda Games, Mecox Lane, China Techfaith Wireless Communication Technology, Cytori Therapeutics, Novavax, and Yahoo!. The top pre-market NASDAQ stock market losers are: Wonder Auto Technology, Vical, Sina, Hudson City Bancorp, and Joy Global.

Gainers

Shanda Games Ltd. (GAME) stock climbed 12.20 percent to $6.44 in the pre-market trading, as its fourth quarter earnings exceeded Street view. Profit was $55.4 million or 20 cents per American depositary share (ADS), while adjusted earnings were 22 cents per ADS. Revenue fell 13.7 percent to $174 million. Analysts had expected profit of 17 cents a share on revenue of $168.80 million.

Mecox Lane Ltd. (MCOX) stock jumped 9.15 percent to $6.20 in the pre-market trading. SINA Corp. (SINA) and a unit of China Dongxiang Co., Ltd. reached separate agreements to buy 117.5 million ordinary shares of Mecox Lane from two major shareholders, Maxpro Holdings Ltd. and Ever Keen Holdings Ltd., both wholly owned by Sequoia Capital. The purchase price is $0.8571 per share, equivalent to $6.00 per ADS.

Mecox Lane reported fourth quarter earnings of $1.1 million or $0.018 per American depositary share (ADS), down from $2.9 million or $0.054 per ADS last year. Adjusted profit was $2 million, down from $3.7 million. Revenue rose 5.7 percent to $64.2 million.

China Techfaith Wireless Communication Technology Ltd. (CNTF) stock advanced 6.98 percent to $4.60 in the pre-market trading. Profit for the fourth quarter was $8.85 million or 17 cents per ADS, up from $3.11 million or 7 cents per ADS last year. Revenue rose to $76.88 million from $59.76 million. The company expects first quarter revenue of $78 million to $81 million.

Cytori Therapeutics, Inc. (CYTX) stock gained 5.70 percent to $5.93 in the pre-market trading. The company announced results from a European breast reconstruction trial, sponsored by Cytori, using a new minimally invasive procedure to repair lumpectomy defects resulted in a sustained and substantial rate of physician and patient satisfaction at 12 months.

Cytori said the study utilized the regenerative cells in the patient's own fat tissue, extracted at the time of the procedure using the Celution 800/CRS System. The cells were then mixed back with a portion of the patient's own body fat, and this mixture of fat and cells was injected into the breast defect. The trial, referred to as RESTORE-2, was a 71 patient prospective long-term breast reconstruction study. Specifically, 12 month physician satisfaction was 85 percent and patient satisfaction 75 percent, which is consistent with reported six month results.

Novavax, Inc. (NVAX) stock rose 3.38 percent to $3.06 in the pre-market trading. The company said it received a contract valued at up to $179 million for the advanced clinical and manufacturing development of recombinant vaccines for the prevention of seasonal and pandemic influenza by an office under the U.S. Department of Health and Human Services.

The contract was awarded by the Office of Biomedical Advanced Research and Development Authority within the Office of the Assistant Secretary for Preparedness and Response. It includes a $97 million 3-year base period and a $82 million 2-year option period. The company will continue to develop and manufacture its clinical-stage, recombinant VLP influenza vaccines during the base period of the contract, for a remuneration of $97 million.

For the purpose, Novavax will conduct three clinical trials utilizing its pandemic influenza VLP vaccine with adjuvants. The vaccine will also be utilized for phase 2 dose-ranging trial and phase 3 registration trial. During the base period, the company will also develop a manufacturing facility plan that has the capability to produce finished vaccine within twelve weeks and at least 50 million doses within six months of an influenza pandemic declaration.

Yahoo! Inc. (YHOO) stock increased 2.67 percent to $16.53 in the pre-market trading. The company is in talks to dispose of its 35 percent stake in its Japanese joint venture with Softbank Corp., Bloomberg reported citing people familiar with the matter. The talks focus on transferring its stake in Yahoo Japan Corp. to Softbank, confirming an earlier Reuters report.

The disposal may not be structured as an outright sale to help Yahoo avoid taxes on the proceeds, the people told Bloomberg. Different options include an asset swap or possibly a tracking stock, with an agreement possibly coming within weeks, according to Reuters.

Losers

Wonder Auto Technology, Inc. (WATG) stock plunged 10.36 percent to $5.97 in the pre-market trading, as it announced its financial restatements to fiscal 2008 and 2009.

The company has concluded on Feb. 23 that its financial statements as of and for the years ended December 31, 2008 and 2009, included in its Annual Report on Form 10-K for the year ended December 31, 2009, as well as the financial statements included in its Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30 during each of the years 2008 and 2009, should no longer be relied upon due to a cutoff error regarding timing of revenue in such periods.

Wonder Auto is continuing to evaluate the impact of the cutoff errors on its quarterly reports on Form 10-Q for the periods ended March 31, June 30 and September 30, 2010. Although the company has not completed its analysis, it currently is expected that the net effect of these adjustments on its financial statements will be an increase in revenues and income in 2008 and 2009.

Vical Inc. (VICL) stock tumbled 4.02 percent to $2.15 in the pre-market trading. The company announced the receipt of Scientific Advice from the European Medicines Agency (EMA) recommending practical efficacy endpoints for a Phase 3 trial of the company's TransVax therapeutic cytomegalovirus (CMV) vaccine.

As the incidence of CMV disease is low and the target population -- recipients of hematopoietic cell transplants -- is small, the EMA agreed with the company's position that a CMV disease endpoint is not practical. The EMA also provided positive comments on important features of the proposed trial design and overall product development pathway.

Vical is currently evaluating plans for the pivotal Phase 3 trial with the U.S. Food and Drug Administration (FDA). The company will provide additional information about the trial upon completion of regulatory agency discussions, and expects to begin the planned Phase 3 trial in the second half of 2011.

Sina Corp. (SINA) stock slid 2.90 percent to $79.62 in the pre-market trading. The company and a unit of China Dongxiang Co., Ltd. reached separate agreements to buy 117.5 million ordinary shares of Mecox Lane Ltd. (MCOX) from two major shareholders, Maxpro Holdings Ltd. and Ever Keen Holdings Ltd., both wholly owned by Sequoia Capital. The purchase price is $0.8571 per share, equivalent to $6.00 per ADS.

Sina reported fourth quarter adjusted earnings of $30.6 million or $0.46 a share, up from $19.1 million or $0.31 a share last year. Revenue rose to $110 million from $98.2 million, while adjusted revenue grew to $105 million from $93.5 million. Analysts had expected profit of $0.45 a share on revenue of $104.67 million. The company expects first quarter adjusted revenue of $93 million to $96 million, while Street predicts $95.18 million.

Hudson City Bancorp, Inc. (HCBK) stock declined 2.68 percent to $10.61 in the pre-market trading.

Joy Global, Inc. (JOYG) stock decreased 2.63 percent to $94.44 in the pre-market trading, as its first quarter earnings missed Street view. Profit was $102.23 million or $0.96 a share, up from $76.22 million or $0.73 a share last year. Sales rose to $869.53 million from $729.22 million. Analysts had expected profit of $1.07 a share on revenue of $881.12 million.

Joy Global increased its fiscal 2011 earnings guidance to range of $5.10 to $5.40 a share from previous forecast of $5.00 to $5.30 a share. The company also raised its revenue outlook to range of $4.0 billion to $4.2 billion from previous range of $3.9 billion to $4.1 million. Street analysts predict profit of $5.31 a share on revenue of $4.06 billion.

Japan NASDAQ Stock Market Manufacturing Yahoo