The top pre-market NASDAQ stock market gainers are: Silicon Motion Technology, Kulicke & Soffa Industries, Baidu, American Superconductor, ARM Holdings, Corinthian Colleges, and Biogen Idec. The top pre-market NASDAQ stock market losers are: Orexigen Therapeutics, China MediaExpress Holdings, VIVUS, DepoMed, and Teva Pharmaceutical Industries.

Gainers

Silicon Motion Technology Corp. (SIMO) stock jumped 18.17 percent to $6.57 in the pre-market trading, following its better-than-expected fourth quarter adjusted earnings. Adjusted profit was $5.8 million or 18 cents per ADS, compared to a loss of $11.1 million or 40 cents per ADS last year. Sales rose to $40.01 million from $22.53 million. Analysts had expected profit of 9 cents per ADS on revenue of $34.49 million.

Silicon Motion Technology expects first quarter revenue to be flat to down 10 percent sequentially, while analysts predict $31.33 million with 20.50 percent growth from last year. The company anticipates full year 2011 revenue growth of 20 percent to 30 percent from last year, while Street predicts $142.60 million with 12.20 percent growth from last year.

Kulicke & Soffa Industries Inc. (KLIC) stock advanced 9.74 percent to $10.70 in the pre-market trading, following its higher-than-expected first quarter earnings. Profit was $15.1 million or 21 cents a share, compared to $15.8 million or 21 cents a share last year. Revenue rose to $148.9 million from $128.4 million. Analysts had expected profit of 19 cents a share on revenue of $129.70 million. The company expects second quarter revenue of $175 million to $195 million, while Street predicts $132.27 million.

Shares of Baidu, Inc. (BIDU) climbed 8.40 percent to $117.75 in the pre-market session, following its better-than-expected fourth quarter earnings. Adjusted profit was 1.19 billion Chinese yuan, up from 0.45 billion Chinese yuan last year. Adjusted earnings per share was 3.40 Chinese yuan or $0.52. Revenue rose 94.4 percent to 2.45 billion Chinese yuan or $371.3 million. Analysts had expected profit of 46 cents a share on revenue of $360.82 million.

Baidu expects first quarter revenue of 2.38 billion Chinese yuan to 2.45 billion Chinese yuan ($360.6 million to $371.2 million), representing an 83.9 percent to 89.3 percent year-over-year growth, while Street predicts $354.06 million.

American Superconductor Corp. (AMSC) stock increased 6.34 percent to $29 in the pre-market trading, following its better-than-expected third quarter earnings. Adjusted profit was $19.8 million or 40 cents a share, up from $9.1 million or 20 cents a share last year. Revenue rose to $114.2 million from $80.7 million. Analysts had expected profit of 33 cents a share on revenue of $113.49 million.

American Superconductor raised its full year adjusted earnings guidance to range of $1.33 to $1.38 a share from previous outlook of $1.30 to $1.35 a share. The company still expects revenue of $430 million to $440 million. Street analysts predict profit of $1.30 a share on revenue of $438.72 million.

Shares of ARM Holdings plc (ARMH) gained 3.63 percent to $25.95 in the pre-market session, following its higher profit for fourth quarter. Profit, on IFRS basis, was 29.71 million pounds, up from 17.34 million pounds last year. Earnings per American Depository shares (ADS) totaled 10.28 cents, higher than 6.38 cents. Normalized earnings were 13.61 cents per ADS, compared to 8.66 cents per ADS last year. Revenue rose 34 percent to 113.95 million pounds. In US dollar terms, revenue rose 28 percent to $179.6 million.

ARM said it is proposing a final dividend of 1.74 pence per share for the year 2010, up 20 percent, payable on May 18, to shareholders on the register of members on April 27. The total dividend in respect of 2010 would be 2.90 pence per share, an increase of 20 percent from last year.

Corinthian Colleges Inc. (COCO) stock rose 3.41 percent to $5.46 in the pre-market trading, following its better-than-expected second quarter earnings. Adjusted profit was $19.1 million or 23 cents a share, compared to $39.4 million or 44 cents a share last year. Revenue rose to $482.8 million from $414.31 million. Analysts had expected profit of 22 cents a share on revenue of $476.28 million. The company expects third quarter earnings of 20 cents to 22 cents a share and revenue of $462 million to $472 million, while Street predicts profit of 20 cents a share on revenue of $462.72 million.

Biogen Idec Inc. (BIIB) stock increased 3.25 percent to $67.60 in the pre-market trading, following its better-than-expected fourth quarter earnings. Adjusted profit was $346.9 million or $1.42 a share, up from $345.2 million or $1.20 a share last year. Revenue rose 8 percent to $1.22 billion. Analysts had expected profit of $1.23 a share on revenue of $1.17 billion.

Biogen Idec expects fiscal 2011 adjusted earnings to be above $5.70 a share, and revenue growth to be flat to low single digit versus last year. Street analysts predict profit of $5.63 a share, on revenue of $4.68 billion with growth of 0.40 percent from last year.

Losers

Orexigen Therapeutics, Inc. (OREX) stock plunged 72.94 percent to $2.46 in the pre-market trading, after FDA declined to approve the experimental weight loss pill Contrave or naltrexone HCl/bupropion HCl extended-release tablets. The FDA noted concern about the cardiovascular safety profile of naltrexone/bupropion when used long-term in a population of overweight and obese subjects.

Specifically, the FDA letter said before your application can be approved, you must conduct a randomized, double-blind, placebo-controlled trial of sufficient size and duration to demonstrate that the risk of major adverse cardiovascular events in overweight and obese subjects treated with naltrexone/bupropion does not adversely affect the drug's benefit-risk profile.

Shares of China MediaExpress Holdings, Inc. (CCME) lost 8.07 percent to $16.40 in the pre-market session.

VIVUS Inc. (VVUS) stock fell 6.82 percent to $8.34 in the pre-market trading.

Shares of DepoMed Inc. (DEPO) declined 0.95 percent to $8.30 in the pre-market session.

Teva Pharmaceutical Industries Ltd. (TEVA) stock decreased 0.82 percent to $54.20 in the pre-market trading.

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