The top pre-market NASDAQ Stock Market gainers are: Magma Design Automation, Transcept Pharmaceuticals, Yahoo, Siliconware Precision Industries, and Melco Crown Entertainment. The top pre-market NASDAQ Stock Market losers are: Lululemon Athletica, ARM Holdings, ASML Holding, Intel, and Amazon.com.
Magma Design Automation Inc. (LAVA) stock jumped 25.52 percent to $7.18 in the pre-market trading. Synopsys Inc. (SNPS) said it agreed to buy Magma Design Automation for $7.35 per share in cash, resulting in a transaction value of about $507 million net of cash and debt acquired. The boards of directors of both companies have unanimously approved the transaction. In the event the merger closes as expected in the second calendar quarter of 2012, Synopsys anticipates the merger to modestly add to its adjusted earnings per share in its fiscal 2012. Synopsys plans to fund the acquisition with a combination of cash and debt, with the specifics to be determined at the time of close.
Transcept Pharmaceuticals, Inc. (TSPT) stock climbed 24.25 percent to $8.66 in the pre-market trading. The company said Purdue has exercised its option to commercialize Intermezzo in the U.S. Purdue intends to launch Intermezzo in the second quarter of 2012 and to invest about $100 million to support sales and marketing during the first year of commercialization. On Nov. 23, the U.S. Food Drug Administration approved Intermezzo (zolpidem tartrate) sublingual tablet C-IV for use as needed for the treatment of insomnia when a middle-of-the-night awakening is followed by difficulty returning to sleep. Intermezzo is not indicated for the treatment of middle-of-the-night insomnia when the patient has fewer than 4 hours of bedtime remaining before the planned time of waking. Middle-of-the-night awakening with difficulty falling back to sleep is a common sleep problem and Intermezzo was the first and is the only prescription sleep aid approved for dosing in the middle of the night to treat this form of insomnia.
Yahoo Inc. (YHOO) stock gained 5.60 percent to $16.59 in the pre-market trading. Blackstone Group and Bain Capital are preparing a bid for all of Yahoo with Asian partners in a deal that could value the Internet company at about $25 billion, according to Reuters, citing people familiar with the matter. The potential bid by the consortium, which would include China's Alibaba Group and Japan's Softbank Corp , has not yet been finalized. Alibaba, whose primary interest is in buying back a 40 percent stake owned by Yahoo, is keeping its options open and said it has not decided whether to participate in a bid for all of Yahoo. A bid for Yahoo at more than $20 per share would mean a deal value of about $25 billion based on 1.24 billion shares outstanding, potentially making it the largest leveraged buyout in recent years, according to Reuters.
Siliconware Precision Industries Co. Ltd. (SPIL) stock increased 2.83 percent to $4.72 in the pre-market trading.
Melco Crown Entertainment Ltd. (MPEL) stock increased 2.32 percent to $10.15 in the pre-market trading.
Lululemon Athletica Inc. (LULU) stock fell 11.97 percent to $43.75 in the pre-market trading. Profit for the third quarter was $38.79 million or $0.27 per share, up from $25.7 million or $0.18 per share last year. Revenue grew 31 percent to $230.2 million. Analysts had expected profit of $0.25 per share on revenue of $235.74 million. Comparable store sales increased 16 percent on a constant dollar basis. Looking ahead into the fourth quarter, the company expects earnings of $0.40 to $0.42 per share and revenue of $327 million to $332 million, while Street predicts profit of $0.42 per share on revenue of $327.30 million. The company expects comparable-store sales percentage to increase in the low to mid-teens on a constant-dollar basis for the fourth quarter.
ARM Holdings plc (ARMH) stock declined 1.27 percent to $27.91 in the pre-market trading.
ASML Holding NV (ASML) stock decreased 1.21 percent to $39.05 in the pre-market trading.
Intel Corp. (INTC) stock moved down 0.36 percent to $24.82 in the pre-market trading.
Amazon.com Inc. (AMZN) stock moved down 0.11 percent to $191.08 in the pre-market trading. Amazon.es launched the Spanish Kindle Store offering customers a vast selection of over 22,000 Spanish-language Kindle books, including the most best sellers in Spain with 20 of the Top 30 El Cultural fiction and non-fiction best sellers, the largest selection of Catalan, Basque and Galician books—and over a thousand free classics in Spanish. The new store offers customers more than 900,000 titles, including thousands of global best sellers, in English and other languages. In addition, Amazon announced the new Kindle, the smallest, lightest and most affordable Kindle ever, is currently available on Amazon.es for only 99 euros. Further, Amazon.it launched the Italian Kindle Store offering customers the largest selection of Italian-language titles in digital with over 16,000 Italian-language Kindle books, a wide array of best sellers and hundreds of free Italian classics. In all, the new store offers customers over 900,000 titles—including thousands of global best sellers—in English and other languages.