The top pre-market NASDAQ Stock Market gainers are: Medivation, Qualcomm, THQ, Qiagen, and Tesla Motors. The top pre-market NASDAQ Stock Market losers are: Dendreon, WebMD Health, Gentiva Health Services, Encore Capital Group, Fushi Copperweld, and Savient Pharmaceuticals.

Gainers

Medivation, Inc. (MDVN) stock jumped 117.48 percent to $35.95 in the pre-market trading. Medivation and Astellas Pharma Inc. announced that the Independent Data Monitoring Committee (IDMC) has informed the companies of positive results from a planned interim analysis of the Phase 3 AFFIRM trial of MDV3100 in men with advanced prostate cancer previously treated with chemotherapy. MDV3100, the first androgen receptor signaling inhibitor, successfully met the study's pre-specified interim efficacy stopping criteria, demonstrating a clinically meaningful and statistically significant (p < 0.0001) improvement in overall survival compared to placebo. As a result, the IDMC recommended that AFFIRM be stopped early and men who received placebo be offered MDV3100.

As reported by the IDMC, MDV3100 produced a 4.8-month advantage in median overall survival compared to placebo. The estimated median survival for men treated with MDV3100 was 18.4 months compared with 13.6 months for men treated with placebo. MDV3100 provided a 37 percent reduction in risk of death compared to placebo (Hazard Ratio=0.631). The IDMC further determined, considering the observed safety profile, that MDV3100 demonstrated a favorable risk-to-benefit ratio sufficient to stop the study. A full analysis of the results from AFFIRM, including safety data, will be submitted for presentation at an upcoming scientific congress. Medivation and Astellas plan to hold a pre-NDA meeting with the U.S. Food and Drug Administration (FDA) in early 2012 and will provide an update on regulatory timelines for MDV3100 subsequent to that meeting. MDV3100 is an investigational agent that is the first in a new class of medicines called androgen receptor signaling inhibitors.

Qualcomm Inc. (QCOM) stock climbed 10.08 percent to $57.44 in the pre-market trading. Profit for the fourth quarter was $1.06 billion or $0.62 per share, up from $865 million or $0.53 per share last year. Adjusted earnings were $0.80 per share, up from $0.68 per share last year. Revenue grew to $4.12 billion from $2.95 billion. Analysts had expected profit of $0.78 per share on revenue of $4 billion. Looking ahead into the first quarter, the company expects adjusted earnings of $0.86 to $0.92 per share and revenue of $4.35 billion to $4.75 billion, while Street predicts profit of $0.85 per share on revenue of $4.25 billion. For the fiscal 2012, the company projects adjusted earnings of $3.42 to $3.62 per share and revenue of $18 billion to $19 billion, while Street predicts profit of $3.48 per share on revenue of $17.30 billion.

THQ Inc. (THQI) stock grew 7.98 percent to $2.30 in the pre-market trading. Adjusted loss for the second quarter widened to $46.9 million or $0.69 per share from $40.6 million or $0.60 per share last year. Sales grew to $146.0 million from $77.1 million, while adjusted sales rose to $119.6 million from $70.4 million. Analysts had expected a loss of $0.80 per share on revenue of $104.61 million.

Qiagen NV (QGEN) stock gained 7.78 percent to $14 in the pre-market trading. Profit for the third quarter was $35.1 million or $0.15 per share, compared to $36.5 million or $0.15 per share last year. Adjusted earnings were $0.24 per share, down from $0.25 per share last year. Sales rose to $288.9 million from $274.3 million. Analysts had expected profit of $0.21 per share on revenue of $290.25 million. Looking ahead into the second half of 2011, the company still expects sales growth of about 7 percent constant exchange rates, of which about half is expected to be organic. For the full year 2011, the company reaffirmed its sales growth expectations of about 3 percent constant exchange rates with contributions from both organic growth and acquisitions. The 2011 adjusted earnings expectation is now expanded to about $0.96 - $0.97 per share. Street analysts predict profit of $0.89 per share on revenue of $1.16 billion for fiscal 2011.

Tesla Motors, Inc. (TSLA) stock increased 6.03 percent to $30.44 in the pre-market trading. Adjusted loss for the third quarter widened to $56.85 million or $0.55 per share from $34.20 million or $0.37 per share last year. Revenue grew 85 percent to $57.67 million. Analysts had expected a loss of $0.59 per share on revenue of $47.28 million. Looking ahead into the fiscal 2011, the company raised its revenue outlook to range of $195 million to $200 million from previous forecast of $180 million to $190 million, while Street predicts $194.91 million. Tesla also said it has received a letter of intent from Daimler for a full powertrain for an electric Mercedes. Details of this deal remain confidential, but will be announced in the coming months.

Losers

Dendreon Corp. (DNDN) stock plunged 26.77 percent to $7.66 in the pre-market trading. Loss for the third quarter widened to $147.1 million or $1.00 per share from $79.3 million or $0.56 per share. Adjusted loss widened to $81.3 million or $0.56 per share from $66.1 million or $0.47 per share last year. Revenue grew to $64.3 million from $20.2 million. Analysts had expected a loss of $0.69 per share on revenue of $62.98 million.

WebMD Health Corp. (WBMD) stock dropped 13.19 percent to $29.30 in the pre-market trading. The company expects fourth quarter earnings of $0.25 to $0.34 per share and revenue of $147 million to $157 million, while Street predicts profit of $0.46 per share on revenue of $170.98 million. For the fiscal 2011, the company lowered its earnings guidance to range of $1.16 to $1.25 per share from previous forecast of $1.26 to $1.39 per share. The company also reduced its 2011 revenue outlook to range of $555.1 million to $565.1 million from previous range of $580 million to $600 million. Street analysts predict profit of $1.32 per share on revenue of $581.37 million.

The company said it believes that the lower than expected fourth quarter revenue resulting from sales activity in both the third and fourth quarters is primarily a result of a more cautious business outlook by many of its large customers for the second half of 2011.

WebMD Health reported earnings from continuing operations for the third quarter of $11.24 million or $0.19 per share, down from $14.61 million or $0.24 per share last year. Adjusted profit was $11.9 million or $0.20 per share, down from $16.0 million or $0.26 per share last year. Revenue marginally declined to $135.14 million from $135.31 million. Analysts had expected profit of $0.17 per share on revenue of $135.94 million for the third quarter.

Gentiva Health Services Inc. (GTIV) stock fell 12.06 percent to $3.50 in the pre-market trading. Loss from continuing operations for the third quarter was $479.7 million or $15.68 per share, compared to a profit of $8.1 million or $0.27 per share last year. Adjusted earnings from continuing operations were $0.37 per share, down from $0.71 per share last year. Revenue grew 18 percent to $449.75 million. Analysts had expected profit of $0.48 per share on revenue of $456.26 million. Looking ahead into the fiscal 2011, the company lowered its adjusted earnings from continuing operations guidance to range of $1.50 to $1.70 per share from previous forecast of $2.00 to $2.20 per share. The company also reduced its 2011 revenue outlook to range of $1.78 billion to $1.82 billion from previous range of $1.8 billion to $1.85 billion. Street analysts predict profit of $2.08 per share on revenue of $1.83 billion for the fiscal 2011.

Encore Capital Group, Inc. (ECPG) stock slid 9.20 percent to $23.70 in the pre-market trading. The company said JCF FPK I LP, one of its stockholders, plans to offer an aggregate of 3.61 million shares of common stock in an underwritten public offering. The selling stockholder also expects to grant the underwriter a 30-day option to purchase up to an additional 361,315 shares to cover over-allotments, if any. The company will not receive any proceeds from the sale of the shares by the selling stockholder. The company's board of directors consists of nine members, one of whom, Oros, is affiliated with the selling stockholder. Oros has indicated that he plans to remain on the board following the conclusion of the offering and to facilitate an orderly transition of his board seat. Morgan Stanley & Co. LLC is acting as the sole book-running manager for the offering.

Fushi Copperweld, Inc. (FSIN) stock decreased 6.25 percent to $6.30 in the pre-market trading. Profit for the third quarter was $8.95 million or $0.23 per share, down from $12.92 million or $0.34 per share last year. Revenue rose to $74.28 million from $66.51 million. Analysts had expected profit of $0.33 per share on revenue of $82.44 million. Looking ahead into the fiscal 2011, the company lowered its earnings guidance to range of $0.88 to $0.98 per share from previous forecast of $1.15 to $1.25 per share, while Street predicts $1.15 per share. The company said it revised its annual guidance based on third quarter performance, current business trends and the expected dilution related to its new facility in Belgium.

Savient Pharmaceuticals, Inc. (SVNT) stock declined 5.88 percent to $3.36 in the pre-market trading. Loss for the third quarter narrowed to $27.39 million or $0.39 per share from $59.35 million or $0.89 per share last year. Product sales rose to $2.58 million from $988,000. Analysts had expected a loss of $0.40 per share on revenue of $3.17 million.

Separately, Savient said the Centers for Medicare and Medicaid Services (CMS) has assigned a product-specific billing code, or J-code, for KRYSTEXXA (pegloticase), which is used for the treatment of chronic gout in adult patients refractory to conventional therapy. The new J-code, J2507, becomes effective on January 1, 2012. KRYSTEXXA (pegloticase) is a PEGylated uric acid specific enzyme for administration by intravenous infusion for the treatment of refractory chronic gout (RCG) in adult patients.

Morgan Stanley NASDAQ Stock Market Cancer Morgan Stanley