The top pre-market NASDAQ Stock Market gainers are: InterDigital, Apollo Group, TiVo, Dendreon, and Logitech International. The top pre-market NASDAQ Stock Market losers are: Central European Media Enterprises, Applied Materials, JA Solar Holdings, Riverbed Technology, Vodafone Group, and Randgold Resources.
InterDigital, Inc. (IDCC) stock jumped 11.04 percent to $45.25 in the pre-market trading.
TiVo Inc. (TIVO) stock gained 5.44 percent to $10.85 in the pre-market trading. TiVo is ripe for a takeover that may hand shareholders a 94 percent return totaling $2.4 billion after settling a seven-year patent battle with Dish Network Corp. (DISH), according to a Bloomberg report. A sale of TiVo may fetch about $20 a share or $2.41 billion, almost double its current market value, Maxim Group LLC told Bloomberg.
Apollo Group Inc. (APOL) stock increased 4.74 percent to $45.75 in the pre-market trading. Adjusted profit from continuing operations for the third quarter was $203.5 million or $1.45 per share, down from $264.6 million or $1.74 per share last year. Revenue fell 7.6 percent to $1.24 billion. Analysts had expected profit of $1.33 per share on revenue of $1.20 billion. For the fiscal 2011, the company still expects revenue of $4.65 billion to $4.75 billion, while Street predicts $4.67 billion. The company still anticipates fiscal 2012 revenue of $4 billion to $4.25 billion, while Street predicts $4.14 billion.
Dendreon Corp. (DNDN) stock increased 3.93 percent to $40.99 in the pre-market trading. The company announced significant milestones that support broad availability for on-label use of PROVENGE (sipuleucel-T), the first autologous cellular immunotherapy for the treatment of asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer (mCRPC). The U.S. FDA approved the Los Angeles immunotherapy manufacturing facility on June 29. The facility includes 36 workstations, and Dendreon will bring these on in a staged approach.
In addition, the Centers for Medicare and Medicaid Services (CMS) issued a final National Coverage Decision (NCD) for PROVENGE on June 30, requiring Medicare contractors to cover the use of PROVENGE for treatment of asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer. The NCD will standardize coverage processes across the country for all Medicare patients with asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer and provides the local Medicare Administrative Contractors (MACs) specific criteria, consistent with the label, on how PROVENGE should be covered. PROVENGE was issued a product specific Q-code effective July 1, 2011, which allows for electronic submission of claims and is expected to accelerate time to payment for physicians
Logitech International SA (LOGI) stock rose 1.96 percent to $11.46 in the pre-market trading.
Central European Media Enterprises Ltd. (CETV) stock declined 2.18 percent to $19.32 in the pre-market trading.
Applied Materials Inc. (AMAT) stock decreased 1.61 percent to $12.80 in the pre-market trading.
Riverbed Technology, Inc. (RVBD) stock decreased 1.49 percent to $39 in the pre-market trading.
JA Solar Holdings Co., Ltd. (JASO) stock declined 1.44 percent to $5.47 in the pre-market trading. The company said it agreed to buy 100 percent ownership interest in Silver Age Holdings Limited, a British Virgin Islands company that owns 100 percent of Solar Silicon Valley Electronic Science and Technology Co. Ltd., a producer of solar wafers based in China, in a transaction that values Solar Silicon Valley at around $180 million.
At the time of closing, JA Solar would issue 30.901 million ordinary shares as consideration at a price of $5.825 per share, representing the 45-day volume-weighted average price of JA Solar's American Depository Share (ADS) trading on the NASDAQ Global Market and about a 5% premium to the last closing price of the ADSs prior to this announcement. Each ADS of JA Solar represents one ordinary share. The consideration for the purchase represents around 2.6 times the audited net income of Solar Silicon Valley for 2010. Following the transaction close, JA Solar's internal wafer capacity would be increased to about 785MW, ensuring a stable supply of low-cost wafers. The acquisition is expected to close in the third quarter of 2011.
Vodafone Group plc (VOD) stock decreased 1.42 percent to $26.34 in the pre-market trading.
Randgold Resources Ltd. (GOLD) stock declined 1.36 percent to $82.91 in the pre-market trading.