The top pre-market NASDAQ stock market gainers are: Clearwire, First Solar, Marvell Technology Group, Randgold Resources and Yahoo. The top pre-market NASDAQ stock market losers are: Vera Bradley, First Niagara Financial Group, Wynn Resorts, EZchip Semiconductor and Vodafone Group.
Clearwire Corp. (CLWR) stock increased 5.60 percent to $2.64 in pre-market trading.
First Solar, Inc. (FSLR) stock gained 3.40 percent to $47.68 in pre-market trading. MidAmerican Energy Holdings, a part of Warren Buffett's Berkshire Hathaway, said it will buy First Solar's 550-megawatt Topaz Solar Farm power plant in California, according to Reuters. MidAmerican Energy is adding the production of solar energy to its portfolio amid a slump in the market that has dried up renewable-energy financing. The $2-billion Topaz plant, being built in San Luis Obispo County, will have the capacity to generate enough energy to power about 160,000 average California homes, MidAmerican Energy said in a statement to Reuters. Financial details of the transaction were not available.
Marvell Technology Group Ltd. (MRVL) stock increased 1.91 percent to $14.37 in pre-market trading. Brokerage firm Craig-Hallum upgraded its rating on shares of Marvell to buy from hold, based on reduced disruptions in the HDD industry following Western Digital's (WDC) announcement it would resume production at its Thailand facility, according to the Fly on the Wall.
Randgold Resources Ltd. (GOLD) stock gained 1.33 percent to $107.79 in pre-market trading.
Yahoo Inc. (YHOO) stock moved up 0.13 percent to $15.86 in pre-market trading.
Vera Bradley, Inc. (VRA) stock slid 8.48 percent to $34.01 in pre-market trading. Profit for the third quarter was $13.0 million or $0.32 per share, up from $6 million or $0.17 per share last year. Revenue grew to $121.1 million from $91.6 million. Analysts had expected profits of $0.28 per share on revenue of $109.9 million. Looking ahead into the fourth quarter, the company expects earnings of $0.44 to $0.47 per share and revenue of $125 million to $130 million, while Wall Street predicts profits of $0.47 per share on revenue of $130.6 million. For the fiscal 2012, the company increased its earnings guidance to a range of $1.37 to $1.40 per share from previous forecasts of $1.32 to $1.35 per share. The company also lifted its revenue outlook to a range of $451 million to $456 million from previous ranges of $438 million to $443 million. Wall Street analysts predict profits of $1.37 per share on revenue of $445.3 million for the fiscal 2012.
First Niagara Financial Group Inc. (FNFG) stock declined 2.614 percent to $8.775 in pre-market trading. The company announced the commencement of an underwritten public offering of $450 million of its common stock. In addition, First Niagara expects to grant the underwriters a 30-day option to purchase up to $33.75 million of additional shares of common stock. In connection with the offering, First Niagara also said its board of directors plans to cut the quarterly cash dividend on its common stock to $0.08 per share commencing with the first quarter of 2012, from $0.16 per share that has been paid in recent quarters. The company said the lower dividend payout will preserve about $110 million of its capital during 2012.
First Niagara expects to commence separate underwritten public offerings of $350 million aggregate liquidation preference of perpetual non-cumulative preferred stock and $300 million aggregate principal amount of subordinated notes in the near future. First Niagara plans to use the net proceeds from the offering of common stock to consummate its previously announced acquisition of branches of HSBC Bank USA, National Association announced on July 31 and for general corporate purposes.
Wynn Resorts Ltd. (WYNN) stock decreased 2.13 percent to $111.25 in pre-market trading.
EZchip Semiconductor Ltd. (EZCH) stock declined 1.34 percent to $29.55 in pre-market trading.
Vodafone Group plc (VOD) stock decreased 1.28 percent to $27.01 in pre-market trading. Verizon Wireless has blocked Google Inc.'s (GOOG) mobile-payment system, Google Wallet, from the new Galaxy Nexus smartphone, according to media reports on Tuesday. Verizon Wireless, a joint venture between Verizon Communications Inc. (VZ) and Vodafone plc, is said to have cited security concerns in blocking Google Wallet. The move by Verizon Wireless is seen as a setback for Google as competition intensifies between services that let consumers pay for goods with mobile phones. Verizon Wireless and its partners AT&T Inc. (T) and T-Mobile USA reportedly plan to invest in a mobile payments joint venture called Isis, which will compete with Google Wallet.