Pre-Market NASDAQ Movers (SIGA, MOTR, AMSC, CLNE, VOD, PAAS, DRYS, GOLD, TQNT, ARMH)

The top pre-market NASDAQ Stock Market gainers are: SIGA Technologies, Motricity, American Superconductor, Clean Energy Fuels, and Vodafone Group. The top pre-market NASDAQ Stock Market losers are: Pan American Silver, DryShips, Randgold Resources, TriQuint Semiconductor, and ARM Holdings.

Gainers

SIGA Technologies, Inc. (SIGA) stock jumped 12.27 percent to $3.02 in the pre-market trading. The company said the Delaware Court of Chancery has issued its post-trial opinion in the litigation commenced by PharmAthene Inc. in 2006. The Court denied PharmAthene's contention that a draft license term sheet attached to the parties' 2006 merger agreement was a binding license and denied PharmAthene's request for specific performance of the alleged license. The Court ruled in PharmAthene's favor, however, on its claims for promissory estoppel and breach of the duty to negotiate a license agreement. The Court, after acknowledging that PharmAthene did not establish a right to any traditional form of relief on these claims, awarded to PharmAthene an equitable payment stream consisting of 50 percent of the net profits that SIGA achieves from the next ten years of sales of ST-246, its smallpox drug, after the first $40 million of net profits goes entirely to SIGA, the company said.

Motricity, Inc. (MOTR) stock grew 8.60 percent to $2.02 in the pre-market trading. The company said it has entered into a $20 million term loan financing arrangement with High River Limited Partnership, which is beneficially owned by Carl C. Icahn, who beneficially owns about 14.6 percent of the company's outstanding shares. Motricity said its agreement with High River Limited Partnership was unanimously approved by the disinterested directors of its board of directors. The company said it used a portion of the proceeds from the term loan to repay in full the amounts outstanding under the company's credit facility with Silicon Valley Bank, which had a maturity date of October 12, 2011, and that credit facility has now been terminated.

Motricity also said it has retained GCA Savvian Advisors to assist the company in exploring strategic options, including a spin-off, sale or other transaction involving its carrier business and mobile marketing and advertising business. It is reviewing various financing options, including a conventional longer-term financing and a rights offering. The company does not expect the subscription price for any rights offering, if undertaken, to exceed the closing price for its common stock on the date of this release. The purpose of this additional financing would be to repay the term loan and to provide further funding for it and its business units.

American Superconductor Corp. (AMSC) stock increased 5.15 percent to $4.70 in the pre-market trading. The company reported first quarter adjusted loss of $30.77 million or $0.61 per share, compared to a profit of $12.97 million or $0.28 per share last year. Revenue fell to $9.06 million from $97.2 million. The company also said it has filed its Annual Report on Form 10-K for the year ended March 31, 2011 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 with the Securities and Exchange Commission and, as a result, the company expects to regain compliance with NASDAQ Listing Rules.

The company also posted its adjusted loss of $26.11 million or $0.52 per share for the fourth quarter of 2010, compared to a profit $8.35 million or $0.18 per share last year. Revenue fell to $59.75 million from $87.62 million. For the second quarter, the company now expects revenue to exceed $18 million and adjusted loss to be less than $27 million or $0.53 per share.

Clean Energy Fuels Corp. (CLNE) stock gained 4.69 percent to $11.60 in the pre-market trading.

Vodafone Group plc (VOD) stock rose 1.42 percent to $24.93 in the pre-market trading.

Losers

Pan American Silver Corp. (PAAS) stock fell 5.85 percent to $27.20 in the pre-market trading.

DryShips, Inc. (DRYS) stock slid 4.55 percent to $2.52 in the pre-market trading. The company announced the details of the partial spin off of Ocean Rig UDW Inc. Based on 408.39 million common shares outstanding as of the record date of Sept. 21, DryShips will distribute 2.97 million common shares of Ocean Rig UDW on a pro rata basis, or 0.007266 common shares of Ocean Rig UDW for every one share of common stock of DryShips. The distribution date for the partial spin off is Oct. 5. Ocean Rig UDW common shares began trading on a when issued basis on the Nasdaq Global Select Market under the ticker symbol ORIGV on Sept. 19 and it is expected that Ocean Rig UDW common shares will begin regular way trading on the Nasdaq Global Select Market on Oct. 6. The company said Fractional shares of Ocean Rig UDW will be aggregated and sold in the open market, with the net proceeds distributed pro rata in the form of cash payments to DryShips' shareholders who would otherwise be entitled to receive a fractional share of Ocean Rig UDW common stock.

Randgold Resources Ltd. (GOLD) stock decreased 3.63 percent to $99.20 in the pre-market trading.

TriQuint Semiconductor, Inc. (TQNT) stock declined 3.29 percent to $5 in the pre-market trading.

ARM Holdings plc (ARMH) stock decreased 3.28 percent to $25.64 in the pre-market trading.