The top pre-market NASDAQ Stock Market gainers are: Arotech, SodaStream International, Dell, Gulf Resources, Golar LNG, GT Solar International, and Research In Motion. The top pre-market NASDAQ Stock Market losers are: Coldwater Creek, Staples, Celldex Therapeutics, Orchid Cellmark, and ARM Holdings.
Arotech Corp. (ARTX) stock jumped 18.28 percent to $2.20 in the pre-market trading.
SodaStream International Ltd. (SODA) stock grew 7.48 percent to $47 in the pre-market trading. Profit for the first quarter was 4.23 million euros or 0.22 euros per share compared to 2.04 million euros or 0.16 euros per share last year. In dollar terms, profit was $6 million or $0.31 per share. Adjusted profit was 5.29 million euros or 0.27 euros per share versus 2.20 million euros or 0.17 euros per share last year. In dollar terms, adjusted profit was $7.50 million or $0.38 per share. Revenue rose to 45.10 million euros from 30.16 million euros. The company reported revenues of $63.96 million for the quarter. Analysts had expected profit of $0.15 per share on revenue of $42.21 million.
SodaStream increased its 2011 revenue growth guidance to around 30 percent from its previous growth forecast of 25 percent. The company also raised its earnings growth outlook to around 60 percent from its previous forecast of 40 percent. On an adjusted basis, excluding the share-based payment expense, fiscal 2011 earnings is expected to be about 19 million euros.
Dell Inc. (DELL) stock grew 7.11 percent to $17.03 in the pre-market trading. Profit for the first quarter was $945 million or $0.49 per share, up from $341 million or $0.17 per share last year. Adjusted earnings grew to $1.05 billion or $0.55 per share from $584 million or $0.30 per share last year. Revenue rose 1 percent to $15.02 billion, on solid growth in commercial and enterprise sectors. Analysts had expected profit of $0.43 per share on revenue of $15.40 billion
Dell said last month it plans to invest $1 billion in the current fiscal year to deliver new solutions, build cloud capabilities and add significant numbers of new engineering, development and solutions-based sales resources in the U.S. and globally to support its enterprise solutions and services focus. Looking ahead into the second quarter, Dell said it expects mid-single digit revenue growth, which is slightly above its normal, sequential seasonal growth of 2 percent to 3 percent.
In addition, Dell said it still expects fiscal 2012 revenue to grow 5 percent to 9 percent, implying revenue of $64.56 billion to $67.02 billion, while Street predicts $64.61 billion with a revenue growth of 5.10 percent. The company increased its 2012 adjusted operating earnings growth outlook to range of 12 percent to 18 percent from previous growth forecast of 6 percent to 12 percent.
Gulf Resources, Inc. (GFRE) stock grew 4.78 percent to $4.38 in the pre-market trading.
Golar LNG Ltd. (GLNG) stock gained 3.45 percent to $27.89 in the pre-market trading.
GT Solar International, Inc. (SOLR) stock increased 2.87 percent to $11.81 in the pre-market trading. The company said it has received its largest order to date for polysilicon production equipment and technology totaling $228 million from South Korea-based polysilicon producer OCI Company, Ltd. The production equipment will be incorporated into OCI’s new Phase 4 production facility. The order will be included in GT Solar’s backlog for its current first quarter of fiscal 2012, which ends on July 2, 2011. OCI expects to complete construction of its 20,000 metric ton Phase 4 production plant by the 4th quarter of 2012. When the plant becomes fully operational it is expected to increase OCI’s total production polysilicon capacity to 62,000 metric tons annually.
Research In Motion Ltd. (RIMM) stock gained 1.67 percent to $44.51 in the pre-market trading. The BlackBerry maker and China Telecom announced plans to launch BlackBerry services for small businesses in China, and sell the Blackberry Bold 9650. Separately, a number of retailers -- including Best Buy and PC World -- said they will begin selling RIM’s PlayBook tablet in the U.K. as of June 16.
Coldwater Creek Inc. (CWTR) stock plunged 23.63 percent to $2.23 in the pre-market trading. The company announced preliminary results for the first quarter of 2011, expecting a loss of $0.32 to $0.34 per share, compared to a profit of $0.03 last year. Street predicts a loss of $0.10 per share. The company expects net sales of nearly $180 million for the first quarter, reflecting a decline in comparable premium retail store sales of almost 28 percent compared to last year, while Street predicts revenue of $219.10 million.
During the first quarter, we experienced continued weak trends in traffic and sales as our merchandise offerings were not well received by our customers. We are in the process of repositioning our brand and view 2011 as a transitional year for Coldwater Creek. We look forward to seeing the results of our new design, development and merchandising initiatives as we move through the year, said Dennis Pence, Chief Executive Officer of Coldwater Creek.
In addition, Coldwater Creek said it has completed an amendment of its existing credit facility that extends the facility maturity date three years to May 16, 2016, which includes the addition and funding of a $15 million term note. The term note transaction generated net cash proceeds of $14.4 million for the company subsequent to the end of the first quarter of fiscal 2011.
Staples, Inc. (SPLS) stock tumbled 12.98 percent to $17.10 in the pre-market trading. Profit for the first quarter was $198 million or $0.28 per share, up from $188 million or $0.26 per share last year. Adjusted earnings were $201 million or $0.28 per share. Sales rose 2 percent to $6.17 billion. Analysts had expected profit of $0.32 per share on revenue of $6.19 billion.
Staples expects second quarter earnings of $0.18 to $0.20 per share, and sales to be flat to slightly positive, while Street predicts profit of $0.25 per share on sales growth of 3.90 percent. For the full year 2011, the company lowered its earnings guidance to range of $1.35 to $1.45 per share from previous forecast of $1.50 to $1.60 per share. The company also reduced its 2011 sales growth guidance to low single digits from previous growth forecast of low-to-mid single-digits. Street predicts profit of $1.52 per share on sales growth of 3.70 per share for the full year.
Staples said it is adopting a more conservative sales and earnings outlook for the year due to the weaker than expected first-quarter results. The fresh annual forecast assumes very little improvement in the economy, continued investment in growth initiatives and competitive pricing in the contract market. The company expects these sales initiatives, combined with its ongoing focus on expense control, should strengthen results over time.
Celldex Therapeutics, Inc. (CLDX) stock fell 12.89 percent to $3.38 in the pre-market trading. The company said it is offering shares of its common stock in an underwritten public offering. All of the shares in the offering will be sold by Celldex. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Celldex said the shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission on Form S-3. Jefferies & Company, Inc. is acting as the sole book-running manager for the proposed offering. Wedbush Securities Inc. is acting as co-manager for the proposed offering.
Orchid Cellmark Inc. (ORCH) stock decreased 1.43 percent to $2.75 in the pre-market trading.
ARM Holdings plc (ARMH) stock moved down 0.91 percent to $27.37 in the pre-market trading. Intel Corp. (INTC) unveiled plans to introduce more than 10 new tablet personal computer models that run on its own chips at the Taiwanese computer trade show later this month as it seeks to expand beyond its PC stronghold into mobile devices where designs from ARM Holdings PLC have become the standard, according to a Wall Street Journal report. Intel is launching a new set of chips, code-named Oak Trail, designed for tablet-style devices as it seeks to catch up with ARM Holdings.