The top pre-market NASDAQ Stock Market gainers are: Affymax, Taleo, Universal Display, DryShips, Hercules Offshore, Staples, and Huntington Bancshares. The top pre-market NASDAQ Stock Market losers are: Fushi Copperweld, Regeneron Pharmaceuticals, and Research In Motion.
Affymax, Inc. (AFFY) stock jumped 23.62 percent to $6.49 in the pre-market trading.
Taleo Corp. (TLEO) stock climbed 13.47 percent to $37.40 in the pre-market trading. Brokerage firm Needham believes Taleo could be the next Software as a Service, or SaaS, name to get acquired, potentially by Oracle (ORCL), according to the Fly on the Wall.
Universal Display Corp. (PANL) stock grew 5.77 percent to $43.25 in the pre-market trading.
DryShips, Inc. (DRYS) stock gained 4.55 percent to $2.53 in the pre-market trading.
Hercules Offshore, Inc. (HERO) stock increased 3.67 percent to $4.24 in the pre-market trading.
Staples, Inc. (SPLS) stock gained 3.28 percent to $14.80 in the pre-market trading.
Huntington Bancshares Inc. (HBAN) stock increased 2.69 percent to $5.35 in the pre-market trading.
Regeneron Pharmaceuticals, Inc. (REGN) stock decreased 7.58 percent to $53.86 in the pre-market trading. The company and Bayer HealthCare, a subgroup of Bayer AG, announced that in an integrated analysis of two parallel Phase 3 studies in patients with the neovascular form of age-related macular degeneration, patients treated with EYLEA or aflibercept Injection For Intravitreal Injection showed a sustained improvement in visual acuity at 96 weeks versus baseline. In the integrated analysis of the VIEW 1 and VIEW 2 studies, the visual acuity gain from baseline in the EYLEA 2mg every eight week group at week 96 was 7.6 letters compared to 8.4 letters at week 52, with an average of 11.2 injections over two years and 4.2 injections during the second year.
Regeneron said the visual acuity gain from baseline in the monthly ranibizumab group at week 96 was 7.9 letters compared to 8.7 letters at week 52, with an average of 16.5 injections over two years and 4.7 injections during the second year. The overall fewer average number of injections in the second year in the EYLEA 2mg every eight week group compared to the ranibizumab group (4.2 versus 4.7) was driven by the fact that fewer patients needed more intense therapy in the EYLEA group and those patients required fewer injections.
Fushi Copperweld, Inc. (FSIN) stock declined 6.17 percent to $7 in the pre-market trading.
Research In Motion Ltd. (RIMM) stock decreased 2.21 percent to $16.40 in the pre-market trading. The BlackBerry maker said it would record a pre-tax provision in fiscal 2012 third quarter of about $485 million, $360 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets. The charge is expected to be predominantly non-cash. For the third quarter of fiscal 2012, excluding the PlayBook provision and the outage related impact described above, RIM now expects adjusted earnings to be at the low to mid point of its previously guided $1.20 to $1.40 per share range.
RIM now expects third quarter adjusted revenue to be slightly lower than the previously guided range of $5.3 billion to $5.6 billion, reflecting product mix and the impact of PlayBook sell-through programs in the quarter. Street analysts predict profit of $1.21 per share on revenue of $5.30 billion for the third quarter. The company is still in the process of finalizing its fourth quarter outlook, and based on preliminary estimates, RIM expects unit shipments in the fourth quarter to be below third quarter levels. Additionally, Research In Motion no longer expects to meet its full-year adjusted earnings guidance of $5.25 to $6.00 per share.