The top pre-market NASDAQ Stock Market gainers are: GT Solar International, DryShips, Tesla Motors, Pharmasset, and Universal Display. The top pre-market NASDAQ Stock Market losers are: Orexigen Therapeutics, DragonWave, VIVUS, Avanir Pharmaceuticals, and Skyworks Solutions.

Gainers

GT Solar International, Inc. (SOLR) stock grew 9.36 percent to $13.15 in the pre-market trading. The company said it has received an order for its advanced sapphire crystallization furnaces totaling $460.4 million from a new market entrant. The order is GT’s largest single order to date, and represents a significant milestone for the company as a leader in the fast-growing LED industry. The order will be included in GT’s backlog for its current first quarter of fiscal 2012, which ends on July 2, 2011.

According to Strategies Unlimited, an industry analyst firm that tracks the LED industry, revenue for high brightness LED applications will be about $19 billion by 2015, with general lighting applications accounting for about 25 percent of this total. High brightness LEDs are primarily manufactured on sapphire wafers. This growth is driving the expansion of manufacturing capacity to meet the increased demand for high quality sapphire material.

DryShips, Inc. (DRYS) stock grew 8.36 percent to $4.15 in the pre-market trading. Goldman Sachs upgraded its rating on shares of DryShips to buy from neutral based on sum-of-the-parts valuation.

Tesla Motors, Inc. (TSLA) stock gained 5.88 percent to $30.45 in the pre-market trading. The company said it has priced and fully allocated its follow-on public offering of 5.3 million shares of common stock at $28.76 per share, the closing price for Tesla shares on June 2. The closing price of Tesla's common stock on May 24, the day before Tesla announced the offering, was $26.72 per share. In addition, Tesla has granted the underwriter a 30-day option to purchase up to an additional 795,000 shares of common stock. All shares are being offered by Tesla.

Additionally, in a private placement to occur concurrently with the closing of the public offering, Elon Musk, Tesla's Chief Executive Officer and co-founder, plans to buy 1.416 million shares of common stock directly from Tesla at the public offering price and Blackstar Investco LLC, an affiliate of Daimler AG, plans to purchase up to 637,475 shares of common stock directly from Tesla at the public offering price. Tesla plans to use a portion of the net proceeds from this offering and the concurrent private placement to fund the development of its Model X crossover vehicle.

Pharmasset, Inc. (VRUS) stock increased 4.22 percent to $105.13 in the pre-market trading.

Universal Display Corp. (PANL) stock rose 3.30 percent to $42 in the pre-market trading.

Losers

Orexigen Therapeutics, Inc. (OREX) stock plunged 27.99 percent to $2.29 in the pre-market trading. The company said it would explore opportunities for its products outside the United States after failing to sway U.S. regulators from their demands for a heart safety study before approving its experimental obesity drug. The company said, after recent meeting with the Food and Drug Administration, that the FDA would not consider approving the drug, Contrave, for a narrower population with lower cardiovascular risk without data from the heart outcomes trial. Orexigen also said its proposed heart study was rejected by the agency.

In addition, the Division of Metabolic and Endocrinologic Products (DMEP) said it plans to hold a general advisory committee early next year to discuss cardiovascular assessment for obesity therapeutics, and that any agreement reached on the design of a cardiovascular outcomes trial would be subject to change following DMEP's interpretation of the input received at the 2012 advisory committee.

DragonWave Inc. (DRWI) stock fell 8.44 percent to $5.75 in the pre-market trading. The company lowered its first quarter revenue guidance to about $11 million from previous forecast of about $15 million, while Street predicts $15.42 million. The company said a North American customer deferred a significant shipment of equipment into the future. In addition, regulatory delays affected revenue to a DragonWave customer in the Middle East.

DragonWave said these revised revenue expectations are preliminary and have not been reviewed by the company's external auditors, and are subject to DragonWave's completion of its customary quarterly closing and internal and external review procedures. DragonWave plans to provide a full strategic update on its results conference call on July 7, 2011.

VIVUS Inc. (VVUS) stock slid 6.32 percent to $8 in the pre-market trading.

Avanir Pharmaceuticals (AVNR) stock tumbled 4 percent to $4.32 in the pre-market trading.

Skyworks Solutions Inc. (SWKS) stock declined 2.41 percent to $24.32 in the pre-market trading. Sterne Agee downgraded its rating on shares of Skyworks to neutral from buy citing increased competition from RF Micro Devices (RFMD) and Avago Technologies (AVGO), which was upgraded to buy from neutral.

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