The top pre-market NASDAQ Stock Market gainers are: IncrediMail, VeriSign, Quantum Fuel Systems Technologies Worldwide, Symantec, and JetBlue Airways. The top pre-market NASDAQ Stock Market losers are: Wilshire Bancorp, Cisco Systems, Shire, ARM Holdings, and Sohu.com.
IncrediMail, Ltd. (MAIL) stock grew 7.94 percent to $7.75 in the pre-market trading. Profit for the first quarter was $3.24 million or $0.32 per share, up from $2.14 million or $0.22 per share last year. Adjusted earnings were $2.93 million or $0.29 per share, up from $2.28 million or $0.23 per share last year. Revenue rose to $8.69 million from $7 million.
We are making good progress on our product diversification efforts and expect to have more to report next quarter. Overall we still have much to do, but we are very excited about our strong start to the year and expect to build on this positive momentum throughout the rest of the year, said Josef Mandelbaum, IncrediMail’s Chief Executive Officer.
VeriSign Inc. (VRSN) stock gained 5.03 percent to $37.35 in the pre-market trading. The company said it has entered into a Settlement Agreement and Mutual Release with the Coalition for ICANN Transparency Inc. (CFIT), CFIT's members, and specified related parties that resolves the over five-year long CFIT litigation.
As per the terms of the deal, no payment will be made and the parties immediately will file a dismissal with prejudice of all claims in the litigation. In addition, the parties executed mutual releases from all claims now and in the future related to the litigation. The company said CFIT voluntarily agreed to dismiss its claims in their entirety with prejudice in view of recent developments in the case.Net and for disgorgement, and Verisign's motion for summary judgment.
Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) stock gained 3.99 percent to $4.69 in the pre-market trading.
Symantec Corp. (SYMC) stock increased 1.55 percent to $19.71 in the pre-market trading. Adjusted profit for the fourth quarter was $297 million or $0.38 per share, down from $323 million or $0.40 per share last year. Revenue rose to $1.7 billion from $1.5 billion. Analysts had expected profit of $0.36 per share on revenue of $1.6 billion. For the first quarter, the company expects adjusted earnings of $0.36 to $0.37 per share and revenue of $1.57 billion to $1.59 billion, while Street predicts profit of $0.36 per share on revenue of $1.55 billion.
JetBlue Airways Corp. (JBLU) stock rose 0.67 percent to $6 in the pre-market trading. The company announced preliminary traffic results for April 2011, with an improvement in traffic of 6.1 percent on a capacity increase of 7.1 percent. Traffic increased to 2.50 billion revenue passenger miles or RPMs from 2.36 billion RPMs last year. Capacity rose to 3.13 billion available seat miles or ASMs from 2.93 billion ASMs last year. Load factor for April was 79.7 percent, a decline of 0.8 points from 80.5 percent last year.
Wilshire Bancorp Inc. (WIBC) stock fell 5.88 percent to $2.88 in the pre-market trading. The company said it has priced underwritten public offering of 36.36 million common stock at $2.75 per share, raising aggregate gross proceeds of $100 million. The company expects issuance and delivery of the shares to occur on May 17. The company granted underwriters a 30-day option to buy 5.45 million additional shares of common stock to cover over-allotments. The company said it intends to use substantial portion of offering proceeds as additional capital. The balance net proceeds will be used to satisfy cash needs of the company and for other general corporate purposes.
Cisco Systems, Inc. (CSCO) stock slid 4.50 percent to $16.98 in the pre-market trading. Profit for the third quarter was $1.81 billion or $0.33 per share, down from $2.19 billion or $0.37 per share last year. Adjusted profit declined to $2.35 billion from $2.48 billion. On a per share basis, adjusted profit was $0.42, flat with last year. Sales rose to $10.87 billion from $10.37 billion. Analysts had expected profit of $0.37 per share on revenue of $10.86 billion.
Separately in the conference call, the company said it expects fourth quarter adjusted earnings of $0.37 to $0.39 per share and revenue growth of flat to up 2 percent on a year-over-year basis, while Street predicts profit of $0.42 per share on revenue growth of 7.10 percent.
Shire Plc (SHPGY) stock slid 2.43 percent to $93.98 in the pre-market trading.
ARM Holdings plc (ARMH) stock declined 2.36 percent to $28.59 in the pre-market trading.
Sohu.com Inc. (SOHU) stock decreased 1.84 percent to $90.64 in the pre-market trading.