Top Pre-Market NASDAQ Losers (PWRD, NLST, CHNG, LLNW, APWR)
The top pre-market NASDAQ stock market losers are: Perfect World, Netlist, China Natural Gas, Limelight Networks, A-Power Energy Generation Systems, China Sunergy, Magic Software Enterprises, Joy Global, Power-One, and Randgold Resources.
Perfect World Co., Ltd. (PWRD) plunged 10.99 percent to $28.01 in the pre-market trading. The company's third quarter earnings were $31.94 million or 60 cents per ADS on revenue of $98.38 million. Analysts had expected profit of 54 cents a share on revenue of $89.96 million.
Perfect World expects fourth quarter revenue of RMB 581 million to RMB 604 million, reflecting an expected growth of 1 percent to 5 percent in revenue from its core gaming business on a sequential basis. The company does not expect any major releases from the television and movie business in the fourth quarter.
Netlist Inc. (NLST) lost 10.80 percent to $2.56 in the pre-market session. The company's third quarter loss widened to $4.94 million or 20 cents a share from $2.09 million or 11 cents a share last year. Sales rose to $10.57 million from $6.45 million. Analysts had expected a loss of 18 cents a share on revenue of $10.49 million.
China Natural Gas, Inc. (CHNG) plummeted 5.90 percent to $5.26 in the pre-market session. The company's third quarter earnings were $3.6 million or 17 cents a share, down from $4.6 million or 29 cents a share last year. Revenue rose 10.9 percent to $22.3 million. Analysts had expected profit of 24 cents a share on revenue of $24.3 million.
China Natural Gas now expects to generate total revenue of $84 million and net income of $16 million for the full year 2010, decreased from the guidance issued in the first quarter 2010. Analysts expect profit of 91 cents a share on revenue fo $95 million.
Limelight Networks, Inc. (LLNW) fell 4.72 percent to $6.46 in the pre-market trading. The brokerage firm Oppenheimer downgraded Limelight to 'underperform' from 'perform' on a change in the dynamics of the web content delivery market as Netflix Inc. (NFLX) had picked Level 3 Communications Inc. (LVLT) as a primary content-delivery network.
A-Power Energy Generation Systems, Ltd. (APWR) dropped 3.45 percent to $6.71 in the pre-market session.
China Sunergy Co. Ltd. (CSUN) tumbled 3.20 percent to $4.54 in the pre-market trading.
Magic Software Enterprises Ltd. (MGIC) decreased 2.33 percent to $4.19 in the pre-market trading.
Joy Global, Inc. (JOYG) declined 1.95 percent to $76.25 in the pre-market session.
Power-One Inc. (PWER) fell 1.77 percent to $8.90 in the pre-market trading.
Randgold Resources Ltd. (GOLD) moved down 1.24 percent to $96.37 in the pre-market session.
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