Pre-Market NASDAQ Movers (MOTR, DRYS, NFLX, CRIS, ZION, MAIL, AGNC, SWKS, HBHC, MU)

 
on March 22 2011 8:32 AM

The top pre-market NASDAQ stock market gainers are: Motricity, DryShips, Netflix, Curis, and Zions Bancorp. The top pre-market NASDAQ stock market losers are: IncrediMail, American Capital Agency, Skyworks Solutions, Hancock Holding, and Micron Technology.

Gainers

Motricity, Inc. (MOTR) stock grew 3.36 percent to $13.22 in the pre-market trading.

DryShips, Inc. (DRYS) stock gained 3.02 percent to $4.78 in the pre-market trading.

Netflix, Inc. (NFLX) stock gained 3.01 percent to $219.25 in the pre-market trading. The company is among the top ten companies hiring this week, according to AOL Jobs.

Curis Inc. (CRIS) stock increased 2.15 percent to $3.32 in the pre-market trading, as Genentech's skin cancer drug vismodegib meets primary goal in mid-stage study. Genentech, a unit of Roche Group, said a pivotal Phase II clinical study of its investigational Hedgehog Pathway Inhibitor vismodegib met its primary endpoint and showed positive results in people with advanced basal cell carcinoma, a severe type of skin cancer. Genentech develops vismodegib under a collaboration agreement with therapeutic drug developer Curis.

The study showed that vismodegib shrank tumors in a pre-defined percentage of people and as per a preliminary safety assessment, most common adverse events were consistent with previous experience with vismodegib, Genentech said.

According to Curis, Roche has indicated that it anticipates making at least one regulatory submission in 2011 to seek approval to commercialize GDC-0449, which now has a generic name approved by the World Health Organization, vismodegib.

Zions Bancorp. (ZION) stock rose 1.69 percent to $23.42 in the pre-market trading.

Losers

IncrediMail, Ltd. (MAIL) stock fell 5.03 percent to $7.17 in the pre-market trading.

American Capital Agency Corp. (AGNC) stock slid 3.54 percent to $28.07 in the pre-market trading. The company said it priced a public offering of 28 million shares of common stock for total estimated gross proceeds of about $780 million. The company has granted the underwriters an option for 30 days to purchase up to an additional 4.20 million shares of common stock to cover overallotments, if any.

American Capital Agency expects to use the net proceeds from this offering to acquire additional agency securities as market conditions warrant and for general corporate purposes. The offering is subject to customary closing conditions and is expected to close on March 25.

Skyworks Solutions Inc. (SWKS) stock tumbled 2.31 percent to $30.46 in the pre-market trading.

Hancock Holding Co. (HBHC) stock slid 1.22 percent to $32.27 in the pre-market trading. The company said it began an underwritten registered public offering of about $200 million in shares of its common stock. The company also plans to grant the underwriters an option to purchase up to an additional 15 percent of the shares sold to cover over-allotments.

Hancock Holding proposes to use the proceeds of the offering for general corporate purposes, including the enhancement of Hancock's capital position and the repurchase of Whitney Holding Corp.'s TARP preferred stock and warrants upon the closing of the proposed merger of Whitney into the company.

Micron Technology Inc. (MU) stock decreased 1.16 percent to $10.24 in the pre-market trading. The company is set to release its second quarter earnings on Wednesday. Analysts are expecting Micron to earn 3 cents a share on revenue of $2.06 billion.

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