Pre-Market NASDAQ Movers (FWLT, SIRI, CTSH, SOHU, PAAS, CTRP, ALLT, NVMI, KLIC, RYAAY)

   on August 02 2011 8:50 AM

The top pre-market NASDAQ Stock Market gainers are: Foster Wheeler AG, SIRIUS XM Radio, Cognizant Technology Solutions, Sohu.com, and Pan American Silver. The top pre-market NASDAQ Stock Market losers are: Ctrip.com International, Allot Communications, Nova Measuring Instruments, Kulicke & Soffa Industries, and Ryanair Holdings.

Gainers

Foster Wheeler AG (FWLT) stock gained 6.95 percent to $28.30 in the pre-market trading. Profit for the second quarter was $63.3 million or $0.52 per share, up from $58.9 million or $0.46 per share last year. Adjusted earnings were $65.3 million or $0.53 per share, up from $61.2 million or $0.48 per share last year. Revenue rose to $1.18 billion from $1.01 billion. Analysts had expected profit of $0.36 per share on revenue of $1.11 billion. Further, the company said it repurchased 3.86 million shares during the second quarter for around $131 million.

Separately, Foster Wheeler said its shareholders have elected Roberto Quarta and John Malcolm to the company’s board of directors. Quarta was elected to serve a term expiring at the company’s annual general meeting to be held in 2012. Malcolm was elected to serve a term expiring at the company’s annual general meeting to be held in 2013.

SIRIUS XM Radio Inc. (SIRI) stock increased 4.74 percent to $2.21 in the pre-market trading. Profit for the second quarter was $173.3 million or $0.03 per share, up from $15.3 million or break-even per share, reflecting lower subscriber acquisition costs and also a hefty gain from investment this year. Revenue rose to $744.4 million from $699.8 million, on higher subscriber count and higher average monthly churn. Looking ahead into fiscal 2011, the company reaffirmed its revenue outlook of about $3 billion, but raised its subscriber addition forecast to 1.6 million subscribers from the previous estimate of 1.4 million subscribers.

Cognizant Technology Solutions Corp. (CTSH) stock rose 3.26 percent to $73 in the pre-market trading. Profit for the second quarter was $208.04 million or $0.67 per share, up from $172.2 million or $0.56 per share last year. Adjusted earnings were $0.72 per share, up from $0.59 per share last year. Revenue grew 34.4 percent to $1.49 billion. Analysts had expected profit of $0.66 per share on revenue of $1.46 billion.

For the third quarter, the company expects adjusted earnings of $0.76 per share and revenue of at least $1.57 billion, while Street predicts profit of $0.70 per share on revenue of $1.54 billion. For the fiscal 2011, the company raised its adjusted earnings guidance to at least $2.98 per share from previous forecast of $2.91 per share. The company also raised its 2011 revenue outlook to at least $6.06 billion from previous estimate of $5.925 billion. Street predicts profit of $2.78 per share on revenue of $5.97 billion for the fiscal 2011.

Sohu.com Inc. (SOHU) stock gained 2.39 percent to $81.03 in the pre-market trading. Adjusted profit for the second quarter was $47.4 million, or $1.21 per share, higher than last year's $37.45 million or $0.96 per share. Revenue grew 36 percent to $198.7 million. Analysts had expected profit of $1.06 per share on revenue of $190.78 million.

Pan American Silver Corp. (PAAS) stock increased 1.81 percent to $30.95 in the pre-market trading.

Losers

Ctrip.com International Ltd. (CTRP) stock fell 9.43 percent to $40.74 in the pre-market trading. Profit for the second quarter was $40.8 million or $0.27 per American Depository Share (ADS), while adjusted earnings were $54 million or $0.35 per ADS. Revenue grew 20 percent to $128.88 million. Analysts had expected profit of $0.27 per share on revenue of $129.64 million. Looking ahead into third quarter, the company still expects revenue growth at a rate of about 15 percent to 20 percent, while Street predicts 24.90 percent growth.

Allot Communications Ltd. (ALLT) stock tumbled 7.56 percent to $14.79 in the pre-market trading. The company said it and certain selling shareholders, including certain members of its senior management, are offering for sale 5.465 million ordinary shares, consisting of 4.5 million ordinary shares to be issued and sold by it and 965,000 ordinary shares to be sold by the selling shareholders in an underwritten public offering. The company and the selling shareholders have also granted the underwriters a 30-day option to purchase up to 819,750 additional ordinary shares to cover any over-allotments.

The company plans to use the net proceeds from the offering for general corporate purposes, including to acquire or invest in businesses or products or to obtain the right to use technologies complementary to its business. The company does not currently have any such transactions planned. The company will not receive any proceeds from the sale of ordinary shares by the selling shareholders. BofA Merrill Lynch, Jefferies & Company, Inc. and RBC Capital Markets, LLC will act as joint book-running managers, Oppenheimer & Co. Inc. will act as lead manager and Wunderlich Securities, Inc. will act as co-manager.

Nova Measuring Instruments Ltd. (NVMI) stock slid 6.70 percent to $8.21 in the pre-market trading. Profit for the second quarter was $9.16 million or $0.34 per share, up from $4.71 million or $0.18 per share last year. Revenue rose to $29.65 million from $19.44 million. Looking ahead into third quarter, the company expects revenue of $24 million to $27 million, with net profitability of 20 percent to 25 percent.

Kulicke & Soffa Industries Inc. (KLIC) stock declined 3.99 percent to $8.90 in the pre-market trading. Profit for the third quarter was $70.71 million or $0.95 per share, up from $49.08 million or $0.65 per share last year. Revenue rose to $294.44 million from $221.25 million. Analysts had expected profit of $0.83 per share on revenue of $263.48 million. Looking ahead into fourth quarter, the company expects revenue to be around $155 million to $175 million, mainly due to a softening of OSAT demand, while Street predicts $211.22 million. On a full year basis, this would represent revenue growth of around 6 percent to 8 percent for fiscal 2011 from last year.

Ryanair Holdings plc (RYAAY) stock decreased 3.56 percent to $25.72 in the pre-market trading.

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