The top pre-market NASDAQ stock market gainers are: Crescent Financial, Netease.com, priceline.com, Hanwha SolarOne, and Clean Energy Fuels. The top pre-market NASDAQ stock market losers are: Salix Pharmaceuticals, AXT, InterDigital, Calumet Specialty Products Partners, and E*TRADE Financial.
Crescent Financial Corp. (CRFN) stock jumped 87.10 percent to $4.06 in the pre-market trading. Piedmont Community Bank Holdings Inc. agreed to invest $75 million in Crescent and therefore acquire a majority interest in the company.
Crescent's fourth quarter loss narrowed to $4.95 million or $0.52 a share from $32.65 million or $3.41 a share last year. Net interest income declined to $6.65 million from $7.68 million, while non-interest income fell to $1.46 million from $1.66 million. Analysts had expected a loss of $0.22 a share on revenue of $8.25 million.
Netease.com Inc. (NTES) stock climbed 12.34 percent to $48.17 in the pre-market trading, as its fourth quarter earnings exceeded Street view. Earnings per American depositary share or ADS were 83 cents, higher than last year's 67 cents. The latest quarter results included a net foreign exchange loss of $5.5 million. Revenue was 1.63 billion yuan or $247.54 million, compared to 1.25 billion yuan last year. Analysts had expected profit of 70 cents a share on revenue of $220.17 million.
Shares of priceline.com Inc. (PCLN) gained 5.99 percent to $451.51 in the pre-market session, as it guided first quarter earnings above Street view. The company expects first quarter adjusted earnings of $2.34 to $2.44 a share and revenue growth of 29 percent to 34 percent over last year, while Street predicts profit of $2.31 a share on revenue of $741.21 million with revenue growth of 26.80 percent.
Priceline.com posted fourth quarter adjusted profit of $175.01 million or $3.40 a share, up from $101.65 million or $1.99 a share last year. Revenue grew 35 percent to $731.32 million. Analysts had expected profit of $3.09 a share on revenue of $734.86 million.
Hanwha SolarOne Co., Ltd. (HSOL) stock increased 3.81 percent to $9 in the pre-market trading. The company expects fourth quarter revenue of $325 million to $330 million, while Street predicts $299.99 million.
Clean Energy Fuels Corp. (CLNE) stock rose 3.49 percent to $14.25 in the pre-market session. Knapheide Manufacturing Co. has selected BAF Technologies, Inc., a subsidiary of Clean Energy Fuels as the exclusive provider of aftermarket CNG fuel systems for light-duty Ford trucks configured with Knapheide service bodies.
Salix Pharmaceuticals Ltd. (SLXP) stock plunged 24.49 percent to $31.30 in the pre-market trading, as it expects FDA to decline approval of its drug Xifaxan in its current form to treat non-constipation irritable bowel syndrome. The company said it is of the understanding that the FDA deems the Xifaxan drug is not ready for approval primarily due to a newly expressed need for retreatment information.
Shares of AXT Inc. (AXTI) tumbled 10.89 percent to $7.45 in the pre-market trading, as it guided first quarter earnings and revenue below Street view. The company expects first quarter earnings of 11 cents to 13 cents a share and revenue of $24 million to $25 million, while Street predicts profit of 14 cents a share on revenue of $27.37 million.
AXT posted fourth quarter profit of $4.9 million or 15 cents a share, up from $2.8 million or 9 cents a share last year. Revenue rose 51 percent to $26.86 million. Analysts had expected profit of 16 cents a share on revenue of $28.90 million.
InterDigital, Inc. (IDCC) stock slid 8.73 percent to $48.50 in the pre-market session, as its fourth quarter earnings missed Street view. Profit was $34.3 million or 76 cents a share, down from $38.87 million or 88 cents a share last year. Revenue rose 25 percent to $95.3 million. Analysts had expected profit of 79 cents a share on revenue of $93.94 million. The company expects first quarter revenue of $76 million to $77 million, below Street view of $86.70 million.
Calumet Specialty Products Partners LP (CLMT) stock declined 7.23 percent to $20.92 in the pre-market trading, following its commencement of underwritten public offering of 4.5 million common units. The company also plans to grant the underwriters the option to purchase up to 675,000 additional common units.
Calumet said it plans to use the net proceeds from this offering to repay borrowings outstanding under its revolving credit facility. Calumet said if there is any additional net proceeds, it will be used for general partnership purposes, including working capital, capital expenditures and acquisitions.
Shares of E*TRADE Financial Corp. (ETFC) decreased 5.47 percent to $15.74 in the pre-market trading.