The top pre-market NASDAQ Stock Market gainers are: athenahealth, Skyworks Solutions, SmartHeat, Ryanair Holdings, and SanDisk. The top pre-market NASDAQ Stock Market losers are: Sify Technologies, Coinstar, SS&C Technologies Holdings, Joy Global, and Polycom.
athenahealth, Inc. (ATHN) stock jumped 9.37 percent to $53.13 in the pre-market trading. Adjusted profit for the second quarter was $7.89 million or $0.22 per share, up from $4.10 million or $0.12 per share last year. Revenue grew 33 percent to $77.89 million. Analysts had expected profit of $0.18 per share on revenue of $75.08 million. For the fiscal 2011, the company increased its adjusted earnings guidance to range of $0.70 to $0.83 per share from previous forecast of $0.68 to $0.78 per share. The company also raised its 2011 revenue outlook to range of $315 million to $325 million from previous range of $300 million to $315 million. Street analysts predict profit of $0.81 per share on revenue of $312.37 million.
Separately, athenahealth said it agreed to acquire Proxsys, LLC, a leading provider of cloud-based care coordination services between physicians and hospitals, for about $28 million plus milestone benefits, in order to accelerates the development of athenahealth's emerging care coordination service, now known as athenaCoordinator. The deal is expected to close in the third quarter of 2011.
Skyworks Solutions Inc. (SWKS) stock grew 9.26 percent to $24.78 in the pre-market trading. Adjusted profit for the third quarter was $93.0 million or $0.49 per share, up from $58.7 million or $0.32 per share last year. Revenue rose to $356.1 million from $275.4 million. Analysts had expected profit of $0.46 per share on revenue of $345.24 million. For the fourth quarter, the company expects adjusted earnings of $0.53 per share and revenue of $400 million, while Street predicts profit of $0.50 per share on revenue of $369.18 million.
SmartHeat Inc. (HEAT) stock gained 6.25 percent to $2.04 in the pre-market trading.
Ryanair Holdings plc (RYAAY) stock increased 5.20 percent to $28.30 in the pre-market trading.
SanDisk Corp. (SNDK) stock rose 3.82 percent to $43.16 in the pre-market trading. Profit for the second quarter was $248.39 million or $1.02 per share, down from $257.89 million or $1.08 per share last year. Adjusted earnings were $278 million or $1.14 per share, up from $258 million or $1.08 per share last year. Revenue rose to $1.38 billion from $1.18 billion. Analysts had expected profit of $0.99 per share on revenue of $1.34 billion.
Sify Technologies Ltd. (SIFY) stock plunged 21.51 percent to $3.65 in the pre-market trading.
Coinstar Inc. (CSTR) stock fell 10.03 percent to $52.75 in the pre-market trading. The company narrowed its second quarter revenue guidance to range of $434 million to $436 million from previous range of $430 million to $450 million, while Street predicts $445.94 million. The company raised its second quarter earnings from continuing operations outlook to range of $0.96 to $1.00 per share from previous forecast of $0.76 to $0.86 per share, while Street predicts $0.81 per share. Further for the third quarter, Coinstar said earnings from continuing operations is currently seen to exceed that of the fourth quarter, citing greater percentage of new lower margin titles scheduled for release in the fourth quarter. Street analysts currently expect profit of $0.89 per share for the third quarter.
Meanwhile, the company anticipates revenues for the fourth quarter 2011 to be greater than any of the previous three quarters, based on the release schedule and rollout of video game rentals in the second half. For fiscal 2011, the company raised its earnings from continuing operations guidance to range of $2.90 to $3.15 per share from previous forecast of $2.75 to $3.10 per share. The company now expects its 2011 revenue of $1.76 billion to $1.85 billion, compared to previous forecast of $1.73 billion to $1.85 billion. Street analysts predict earnings of $3.02 per share on revenues of $1.81 billion for the fiscal 2011.
In addition, Coinstar said the president of redbox business, Mitch Lowe, has resigned, but will remain until a successor is named. The company has begun an external search to identify a new president. Lowe, who joined redbox in 2003, resigned to pursue entrepreneurial and other interests. On behalf of Coinstar and the redbox organization, I want to thank Mitch for his many contributions over the last eight years, particularly in establishing redbox as a leader in the home entertainment business, Coinstar CEO Paul Davis said in a statement. Coinstar also said its board has authorized repurchase of an additional $250 million and that it has entered into a new credit facility agreement.
SS&C Technologies Holdings, Inc. (SSNC) stock tumbled 5.68 percent to $19.10 in the pre-market trading. The company announced a public offering of its common stock. The size of the offering is 7 million shares of common stock offered by investment funds affiliated with The Carlyle Group. Upon completion of the offering, investment funds affiliated with The Carlyle Group will own about 35 percent of the common stock of SS&C Holdings. The offering is expected to close and settle on July 27. Neither the company nor the company's management is selling any shares of common stock in the offering. The company said it will not receive any of the proceeds from the offering of shares by the selling stockholders.
SS&C Technologies confirmed that there is no change to its financial guidance. While announcing the first-quarter result, the company had expected revenue of $367.5 million to $373.0 million and adjusted net income of $83.4 million to $87.0 million for the full year 2011, while Street now expects revenue of $369.56 million.
Joy Global, Inc. (JOYG) stock declined 3.33 percent to $96.98 in the pre-market trading.
Polycom, Inc. (PLCM) stock decreased 2.35 percent to $28.25 in the pre-market trading. Profit for the second quarter was $28.5 million or $0.16 per share, up from $12.6 million or $0.07 per share last year. Adjusted earnings were $47.7 million or $0.26 per share, up from $30.1 million or $0.17 per share last year. Revenue grew 24 percent to $365.6 million. Analysts had expected profit of $0.25 per share on revenue of $362.9 million.