The top pre-market NASDAQ gainers are: Broadcom, Melco Crown, Acme Packet, Endocyte and Silicon Precision. The top pre-market NASDAQ losers are: First Solar, Grifols, RADVision, ARM Holdings and Amazon.
Shares of Broadcom Corp. (NASDAQ:BRCM) gained 6.78 percent, or $1.91, to $30.10 after it raised its fourth quarter outlook. The company now expects revenue of about $1.8 billion, compared to prior guidance of $1.7 billion to $1.8 billion. The outlook for product gross margin also increased to the high end of the prior range to roughly flat sequentially. Wall Street expects revenues of $1.77 billion, according to analysts polled by Thomson Reuters
Shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) advanced 4.81 percent, or 42 cents, to $9.15 and are nearing the resistance level of $9.55 after a research report said Melco is poised to benefit from a booming Asian gaming market.
Acme Packet, Inc. (NASDAQ:APKT) shares rose 3.65 percent, or $1.23, to $34.89 amid renewed takeover rumors and Morgan Keegan upgraded the stock to outperform.
Shares of Endocyte, Inc. (NASDAQ:ECYT) gained 2.52 percent, or 9 cents, to $3.66.
Siliconware Precision Industries Co. Ltd. (NASDAQ:SPIL) edged up 1.68 percent, or 71 cents, to $4.29.
Shares of First Solar, Inc. (NASDAQ:FSLR) plunged 12.29 percent, or $5.23, to $37.34 after it cut its 2011 outlook citing continued delays of certain projects in First Solar's systems business due to weather and other factors.
First Solar now forecasts 2011 net sales in the range of $2.8 billion to $2.9 billion, down from its prior guidance range for net sales of $3.0 billion to $3.3 billion. The company now expects 2011 earnings per share to be in the range of $5.75 to $6.00, down from prior outlook of $6.50 to $7.50 per share. Analysts expect earnings of $6.88 a share on revenue of $3.20 billion for 2011.
Grifols, S.A. (NASDAQ:GRFS) shares fell 3.47 percent, or 18 cents, to $5.
Shares of RADVision Ltd. (NASDAQ:RVSN) dropped 2.37 percent, or 23 cents, to $9.49 despite rumors emerged that Avaya may bid for RADVision.
Shares of ARM Holdings, plc (NASDAQ:ARMH) declined 1.15 percent, or 30 cents, to $25.90.
Amazon.com, Inc. (NASDAQ:AMZN) shares fell 0.59 percent, or $1.07, to $179.44.