The top pre-market NASDAQ Stock Market gainers are: Westport Innovations, ICAgen, SIGA Technologies, Spreadtrum Communications, and OmniVision Technologies. The top pre-market NASDAQ Stock Market losers are: Swisher Hygiene, JA Solar Holdings, Logitech International, ASML Holding, and Aixtron.
Westport Innovations Inc. (WPRT) stock grew 7.95 percent to $23.22 in the pre-market trading. The company said it has entered into an agreement with General Motors (GM) to help develop advanced natural gas engine technology. Both General Motors and Westport will bring their extensive expertise to develop natural gas engine controls, emissions and performance strategies. Westport announced the planned opening of a new Technical Center in Michigan. Westport's personnel currently includes approximately 15 people in Farmington Hills, MI, and Westport plans to add more people and invest in facilities as demand grows for natural gas-powered, alternative-fuel vehicles. To support OEM programs, Westport plans to add research and development facilities to develop technologies that enable vehicles to run on natural gas for business and government fleets, and personal use. Utilization of domestic energy, the creation of jobs and protection of the environment, are all part of Westport's business objectives.
ICAgen Inc. (ICGN) stock grew 7.90 percent to $6.83 in the pre-market trading. In a regulatory filing, Pfizer Inc. (PFE) said it is evaluating the possibility of entering into a strategic transaction with ICAgen, which could have the effect of influencing or changing the control of Icagen by means of a stock or asset acquisition or merger. The stock touched a new 52-week high of $6.63 on Monday's regular trading, following the Pfizer news.
SIGA Technologies, Inc. (SIGA) stock gained 5.61 percent to $11.48 in the pre-market trading. The company said the Biomedical Advanced Research and Development Authority of the United States Department of Health and Human Services (BARDA) has advised that the protest filed against the contract it awarded to SIGA for the sale of SIGA's smallpox antiviral ST-246 has been withdrawn following execution of a contract modification by BARDA. As a result, the stay on performance of the contract, originally awarded last month, has been lifted. The contract modification deletes the option for BARDA to buy up to 12 million courses of ST-246 beyond the 1.7 million courses to be purchased under the base contract. The base contract and the other options remain unchanged. The contract modification does not prevent BARDA from purchasing additional courses of ST-246 or other products in the future if it desires.
SIGA's drug, ST-246, is an oral therapeutic agent active against orthopoxviruses including smallpox. It is the only drug from any source ever to have demonstrated efficacy in non-human primate models of orthopox virus disease, which was a requirement of the request for proposal that resulted in the current contract. ST-246 will be the first entirely new small-molecule drug delivered to the Strategic National Stockpile under Project Bioshield. Smallpox, even though no longer present naturally in the environment, is considered a formidable bioterrorism threat, and there is currently no FDA-approved treatment for symptomatic individuals. ST-246 works by blocking the ability of the virus to spread to other cells, preventing it from causing disease. The FDA has designated ST-246 for fast-track status, creating a path for expedited FDA review and eventual regulatory approval.
Spreadtrum Communications Inc. (SPRD) stock increased 4.80 percent to $13.57 in the pre-market trading. Jefferies & Co. initiated coverage of Spreadtrum with a buy rating and a price target of $19.25. We believe the company is well positioned ahead of the new product cycle and will gain incremental market share in the GSM/GPRS/EDGE market and TD-SCDMA markets. In addition, we are optimistic regarding Spreadtrum’s cost-leadership strategy and believe it is better positioned to compete if pricing pressure intensifies, said Branden Chen, an analyst at Jefferies.
OmniVision Technologies Inc. (OVTI) stock rose 3.09 percent to $31.70 in the pre-market trading. Canaccord Genuity upgraded its rating on shares of OmniVision to buy from hold.
Swisher Hygiene Inc. (SWSH) stock fell 7.44 percent to $5.10 in the pre-market trading.
JA Solar Holdings Co., Ltd. (JASO) stock declined 2.62 percent to $5.58 in the pre-market trading. Brean Murray downgraded its rating on shares of JA Solar to sell from hold.
Logitech International SA (LOGI) stock decreased 2.28 percent to $10.27 in the pre-market trading.
ASML Holding NV (ASML) stock declined 1.63 percent to $35.70 in the pre-market trading.
Aixtron SE (AIXG) stock decreased 1.56 percent to $32.14 in the pre-market trading.