Pre-Market NASDAQ Movers (TIVO, CLNE, FFIV, SODA, PSEC, SIGM, AMAT, INFY, VOD, GOLD, AAPL)
The top pre-market NASDAQ Stock Market gainers are: TiVo, Clean Energy Fuels, F5 Networks, SodaStream International, and Prospect Capital. The top pre-market NASDAQ Stock Market losers are: Sigma Designs, Applied Materials, Infosys Technologies, Vodafone Group, Randgold Resources, and Apple.
Gainers
TiVo Inc. (TIVO) stock jumped 10.22 percent to $8.95 in the pre-market trading. Loss for the second quarter widened to $19.6 million or $0.17 per share from $15.3 million or $0.13 per share last year. Revenue rose to $61.18 million from $51.55 million. Analysts had expected a loss of $0.20 per share on revenue of $47.60 million. Looking ahead into the third quarter, the company expects loss of $27 million to $29 million and revenue from service and technology of $49 million to $51 million.
Clean Energy Fuels Corp. (CLNE) stock grew 5.69 percent to $13.56 in the pre-market trading. In a move to participate in the growing natural gas vehicle market sector in the United States, three investment companies have agreed to invest $150 million in Clean Energy Fuels. The investors are Springleaf Investments Pte. Ltd., a subsidiary of Temasek Holdings Pte. Ltd., Lionfish Investments Pte Ltd, an investment vehicle managed by Seatown Holdings International Pte. Ltd, and Greenwich Asset Holding Ltd, a subsidiary of RRJ Capital Master Fund I, L.P.
The $150-million investment is in the form of 7.50 percent convertible notes due in 2016. The notes will be convertible into shares of Clean Energy common stock at $15.00 per share. The closing of the investment is scheduled to occur on or before August 30, 2011 and is subject to customary conditions. The use of proceeds is intended to support Clean Energy’s fueling infrastructure building program broadly, including the development, construction and operation of liquefied natural gas (LNG) and compressed natural gas (CNG) fueling stations and the related support, management, maintenance and marketing of those stations, including the development, construction and operation of offloading facilities, related production assets and delivery trucks.
F5 Networks, Inc. (FFIV) stock increased 3.14 percent to $75.77 in the pre-market trading.
SodaStream International Ltd. (SODA) stock gained 2.29 percent to $35.71 in the pre-market trading.
Prospect Capital Corp. (PSEC) stock rose 1.95 percent to $8.89 in the pre-market trading. The company said it has adopted a plan for the purpose of repurchasing up to $100 million of its common stock. Prospect's board has authorized the repurchase plan as it believes the recent market turmoil may cause its common stock to be undervalued from time to time. Under this plan, Prospect may in its discretion repurchase up to $100 million of its common stock at prices below its net asset value as reported in its then most recently published financial statements.
Prospect anticipates that share purchases may be made from time to time, depending upon market conditions. Shares may be purchased in the open market, including through block purchases. Prospect will not repurchase any shares from directors, officers, or other affiliates of Prospect. The repurchase program does not obligate Prospect to acquire any shares and may be discontinued at any time. Prospect intends to fund potential repurchases, if any, with available cash. The repurchase program is expected to be in effect after shareholders receive notice through the mail, which should occur in the next few weeks, until the approved dollar amount has been used to repurchase shares or the plan is terminated.
Losers
Sigma Designs, Inc. (SIGM) stock fell 8.77 percent to $7.70 in the pre-market trading. Loss for the second quarter was $22.0 million or $0.69 per share, compared to a profit of $0.5 million or $0.02 per share last year. Adjusted loss was $14.0 million or $0.44 per share, compared to a profit of $8.2 million or $0.26 per share last year. Revenue fell 36 percent to $46.7 million. Analysts had expected a loss of $0.02 per share on revenue of $52.4 million.
Applied Materials Inc. (AMAT) stock declined 4.93 percent to $10.80 in the pre-market trading. The company expects fourth quarter adjusted earnings of $0.16 to $0.24 per share and sales to decline 15 percent to 30 percent sequential, while Street predicts profit of $0.33 per share and revenue to decline 8 percent to $2.66 billion from last year. The company reported third quarter adjusted earnings of $467 million to $0.35 per share, up from $234 million or $0.17 per share last year. Sales rose to $2.79 billion from $2.52 billion. Analysts had expected profit of $0.33 per share on revenue of $2.68 billion for the third quarter.
Infosys Technologies Ltd. (INFY) stock decreased 4.16 percent to $47.45 in the pre-market trading.
Vodafone Group plc (VOD) stock declined 2.99 percent to $26.92 in the pre-market trading. European stocks trimmed gains and briefly turned flat on Thursday as UK defensive shares including Vodafone and AstraZeneca lost ground, but the recovery rally in banking shares remained intact.
Randgold Resources Ltd. (GOLD) stock decreased 2.63 percent to $102.07 in the pre-market trading.
Apple Inc. (AAPL) stock moved down 2.17 percent to $368.02 in the pre-market trading. The company said Steve Jobs, the ailing but charismatic chief executive officer of Apple, has resigned and is succeeded in that position by chief operating officer Tim Cook. Steven Paul Jobs submitted his resignation to the board Wednesday and strongly recommended that the board name Tim Cook as his successor. Jobs has been elected Chairman of the Apple board and Cook will join the board, effective immediately, the company said.
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