Pre-Market NASDAQ Movers (APAC, HITK, REDF, MOBI, ENOC, NVMI, AFFX, QTWW, GURE, LOGI, AIXG, SBUX)

 
on July 07 2011 9:26 AM
Pre-Market NASDAQ Movers
Pre-Market NASDAQ Movers NASDAQ

The top pre-market NASDAQ Stock Market gainers are: APAC Customer Services, Hi Tech Pharmacal, Rediff.com India, Sky-mobi, EnerNOC, and Nova Measuring Instruments. The top pre-market NASDAQ Stock Market losers are: Affymetrix, Quantum Fuel Systems Technologies Worldwide, Gulf Resources, Logitech International, Aixtron, and Starbucks.

Gainers

APAC Customer Services Inc. (APAC) stock jumped 55.70 percent to $8.47 in the pre-market trading. The company said it agreed to be acquired by One Equity Partners, a private investment arm of JPMorgan Chase & Co, for $8.85 per share or about $470 million cash. The transaction is expected to close in the fourth quarter of 2011, subject to the satisfaction of customary closing conditions, including Hart-Scott-Rodino clearance and approval of APAC’s shareholders. One Equity Partners will pay APAC stockholders $8.55 per share in cash, which represents a premium of about 57 percent over its closing share price on July 6, the last trading day prior to today's announcement.

Hi Tech Pharmacal Co. Inc. (HITK) stock grew 8.83 percent to $31.44 in the pre-market trading. Earnings from continuing operations for the fourth quarter were $13.98 million or $1.08 per share, higher than last year's $6.93 million or $0.54 per share last year. Sales grew 45 percent to $57.18 million. Analysts had expected profit of $0.71 per share on revenue of $49.33 million.

Rediff.com India Ltd. (REDF) stock increased 5.36 percent to $12.59 in the pre-market trading.

Sky-mobi Limited (MOBI) stock gained 5.24 percent to $10.65 in the pre-market trading.

EnerNOC, Inc. (ENOC) stock increased 4.99 percent to $17.03 in the pre-market trading.

Nova Measuring Instruments Ltd. (NVMI) stock gained 4.65 percent to $11.02 in the pre-market trading. The company said multiple orders from leading edge customers were received for its newest Integrated Metrology system - the Nova i500. The orders followed the successful completion of a rigorous qualification process, conducted by these customers over several months, to be the primary platform for their integrated process control needs. During qualifications the Nova i500 demonstrated more than 30 percent improvement in throughput and precision compared to the previous model in various production scenarios.

Losers

Affymetrix Inc. (AFFX) stock plunged 18.13 percent to $6.55 in the pre-market trading. The company expects second quarter revenue of $64 million to $65 million, below Street estimate of $74.08 million. The company anticipates product revenue of $58 million to $59 million, including consumable sales of about $55 million and instrument sales of about $3.5 million. Service revenue is projected to be about $5 million and license and royalty revenue are expected to be about $1 million. We are clearly disappointed with our revenue this quarter, said Tim Barabe, executive vice president and CFO.

During the second quarter we experienced decreased sales to academic customers across all regions, particularly in North America. Our consumable revenue was down by about 10% from last year, said Andrew Last, Affymetrix executive vice president and chief commercial officer. The company will report second quarter financial results after the close of the market on July 27.

Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) stock slid 6.76 percent to $4 in the pre-market trading.

Gulf Resources, Inc. (GURE) stock declined 2.61 percent to $2.98 in the pre-market trading. In a regulatory filing, the company said Yafei Ji resigned from his position as a director, effective June 29. The company appointed Tengfei Zhang on June 30 to serve as an independent director, and as Chairman of the Compensation Committee and a member of the Nominating and Corporate Governance Committee of the Board of Directors.

Logitech International SA (LOGI) stock decreased 1.55 percent to $10.82 in the pre-market trading.

Aixtron SE (AIXG) stock moved down 1.45 percent to $31.27 in the pre-market trading.

Starbucks Corp. (SBUX) stock moved down 1.24 percent to $39.92 in the pre-market trading. Goldman Sachs downgraded its rating on shares of Starbucks to neutral from conviction buy based on valuation and more modest same-store-sales estimates.

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