The top pre-market NASDAQ Stock Market gainers are: Kandi Technologies, Micromet, SIRIUS XM Radio, Lam Research, and Camtek. The top pre-market NASDAQ Stock Market losers are: Aixtron, Geron, GT Solar International, Sina, and Vodafone Group.
Kandi Technologies, Corp (KNDI) stock jumped 12.03 percent to $2.05 in the pre-market trading. The company recently announced the signing of a strategic cooperation agreement with Hangzhou Electric Vehicle Service Co., Ltd., effective July 5. Hangzhou Electric Vehicle Service Co., a professional service company affiliate of State Grid Corporation, is assisting the local municipal government in launching the 20,000 pure electric vehicle pilot program for Hangzhou consumers through the end of 2012. Hangzhou Electric Vehicle Service Co. also manages the local State Grid Express Change battery service network.
The strategic cooperation will establish a strong relationship through which Kandi's pure electric vehicles will become a preferred vehicle of choice for Hangzhou Electric Vehicle Service Co. and will leverage and promote Kandi's unique Express Change business model. Under the agreement, Hangzhou Electric Vehicle Service Co. will ensure that the service network being built by State Grid will support Kandi's technical requirement and infrastructure needs, while permitting efficient and effective operation of Kandi's electric vehicles.
Micromet, Inc. (MITI) stock grew 5.03 percent to $6.05 in the pre-market trading. The company said it entered into a collaboration agreement with Amgen Inc. (AMGN) for the research of BiTE antibodies against three undisclosed solid tumor targets. BiTE antibodies are designed to direct the body's cytotoxic, or cell-destroying, T cells against tumor cells, and represent a new therapeutic approach to cancer therapy. Micromet will be primarily responsible for the discovery and pre-clinical development of the BiTE antibodies. Amgen will have the right to pursue development and commercialization of BiTE antibodies against up to two of these targets, to be selected by Amgen.
Amgen is expected to pay 10 million euros upon deal execution. If milestones in multiple indications and tumor types are achieved, Micromet is eligible to receive up to 342 million euros in clinical and commercial milestone payments. In addition, for the second BiTE program, Micromet is eligible to receive an additional cash payment upon initiation of the program, milestones, royalties and development funding comparable to the first program. The combined potential payments to Micromet from both programs, excluding reimbursement of research and development costs, are around 695 million euros.
SIRIUS XM Radio Inc. (SIRI) stock gained 3.56 percent to $2.30 in the pre-market trading. The company will be added to the NASDAQ-100 Index effective July 15, 2011. Sirius XM's common shares will also be included in the PowerShares QQQ exchange traded fund. The NASDAQ-100 Index is composed of the 100 largest non-financial stocks listed on The NASDAQ Stock Market and dates to January 1985. The index acts as a benchmark for financial products such as options, futures, and funds, and reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies including investment companies.
Lam Research Corp. (LRCX) stock rose 1.88 percent to $45 in the pre-market trading.
Camtek Ltd. (CAMT) stock increased 1.76 percent to $3.46 in the pre-market trading. The company said a leading Semiconductor Manufacturer has selected Xact, Camtek's Advanced Transmission Electron Microscope (TEM) sample preparation solution, enabling material analysis and verification. The system was installed during the second quarter of 2011. Shrinking feature dimensions and advances in material complexity require a scale of analysis only possible through Scanning Transmission Electron Microscope (STEM) and TEM processes. Sample preparation for the front-end of the line (FEOL) process monitoring and offline failure analysis has become a bottleneck. Existing sample preparation solutions are falling short of meeting the evolving requirements of high resolution and high contrast imaging and analysis. Camtek's Xact overcomes these limitations by applying its ground-breaking Adaptive Ion Milling (AIM) technology, and offers negligible artifacts and improved throughput.
Aixtron SE (AIXG) stock fell 4.06 percent to $29.31 in the pre-market trading.
Geron Corp. (GERN) stock slid 3.42 percent to $4.24 in the pre-market trading.
GT Solar International, Inc. (SOLR) stock decreased 3.09 percent to $16 in the pre-market trading.
Sina Corp. (SINA) declined 2.40 percent to $110.85 in the pre-market trading.
Vodafone Group plc (VOD) stock decreased 2.24 percent to $26.15 in the pre-market trading.