The top pre-market NASDAQ stock market gainers are: Melco Crown Entertainment, Amarin, DryShips, Micron Technology, Netflix, Dendreon, SodaStream International, and Green Mountain Coffee Roasters. The top pre-market NASDAQ stock market losers are: Randgold Resources, and Global Industries.
Melco Crown Entertainment Ltd. (MPEL) stock grew 9.77 percent to $9.25 in pre-market trading.
Amarin Corporation plc (AMRN) stock gained 7.75 percent to $7.65 in pre-market trading. The company said its New Drug Application (NDA) for AMR101 was accepted for filing by the U.S. Food and Drug Administration. The acceptance of the NDA reflects the FDA's determination that the application is sufficiently complete to permit a substantive review. Amarin's NDA, submitted to FDA on Sept. 26, seeks approval to market and sell AMR101 in the United States for the indication studied in the MARINE trial, the treatment of patients with very high triglycerides.
Amarin said the NDA for AMR101 is supported by data from both Phase 3 AMR101 clinical trials, MARINE and ANCHOR, in which trials AMR101 achieved all of the primary endpoints and was well tolerated with a safety profile comparable to placebo. The application would be subject to a standard review and would have a Prescription Drug User Fee Act or PDUFA date of July 26, 2012. The PDUFA date is the goal date for the FDA to complete its review of the NDA.
DryShips, Inc. (DRYS) stock gained 6.05 percent to $2.28 in pre-market trading.
Micron Technology Inc. (MU) stock increased 5.27 percent to $5.79 in pre-market trading.
Netflix, Inc. (NFLX) stock increased 4.80 percent to $66.92 in pre-market trading. Jefferies is revising its estimates for Netflix due to revised guidance and capital raise. The brokerage lowered its price target on shares of Netflix to $75 from $90, while maintaining its hold rating.
Dendreon Corp. (DNDN) stock gained 4.46 percent to $8.20 in pre-market trading.
SodaStream International Ltd. (SODA) stock increased 4.45 percent to $29.80 in pre-market trading.
Green Mountain Coffee Roasters Inc. (GMCR) stock rose 4.30 percent to $51.80 in pre-market trading.
Randgold Resources Ltd. (GOLD) stock declined 4.64 percent to $99.06 in pre-market trading. The company announced a series of setbacks at its Tongon mine in Côte d'Ivoire which will have a negative impact on its production for the fourth quarter of this year. The company revised its 2011 production guidance and now expects group production to drop to a range from 690 000 to 700 000 ounces, which still represents an increase over 2010. Third quarter's difficult operating conditions in the pit, due to the wet weather and mining through transitional ore, persisted into fourth quarter. In addition, during the week of Nov. 21, the mine experienced a temporary work stoppage during the course of negotiating a mine level agreement with the newly established union.
At the same time, the change-over from diesel-generated power to the Côte d'Ivoire's national grid proved to be more complex than originally thought and resulted in significant downtime. The mine also suffered a major failure of the barring gear on its No 1 mill last Friday. This caused management to shut down the No 2 mill as well in the interests of personnel safety and to protect the mill from a similar failure and a spare barring gear was ordered from the company's Loulo complex in Mali under its group strategic spares plan. It is expected that the No 2 mill will be restarted by Tuesday once the integrity of its barring gear has been verified.
Global Industries Ltd. (GLBL) moved down 0.13 percent to $7.97 in pre-market trading.