The top pre-market NASDAQ stock market gainers are: InterMune, YRC Worldwide, Take-Two Interactive Software, Oracle, China Sunergy, Veeco Instruments, Research In Motion, China MediaExpress Holdings, Powerwave Technologies, and MIPS Technologies.
InterMune Inc. (ITMN) advanced 113.38 percent to $30.45 in the pre-market trading. The company said the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion recommending the granting of a marketing authorization for Esbriet (pirfenidone) in adults for the treatment of mild to moderate idiopathic pulmonary fibrosis, a progressive and fatal lung disease.
InterMune also announced additions to its senior leadership team to prepare for the commercialization of Esbriet (pirfenidone) in Europe. The company appointed Giacomo Nepi as senior vice president and managing director, Europe, and Frank Weber as senior vice president, EU medical and global medical advisor.
InterMune also appointed Markus Dieken as senior vice president and general manager, Germany, and Manuela Maronati as vice president, sales and marketing, Europe.
YRC Worldwide Inc. (YRCW) surged 7.78 percent to $3.60 in the pre-market session. The Teamsters hailed a U.S. District Court ruling that ABF Freight System does not have standing to sue YRCW Worldwide and the union in court.
Take-Two Interactive Software Inc. (TTWO) soared 7.12 percent to $12.79 in the pre-market trading. The company's fourth quarter adjusted earnings from continuing operations were $64 million or 67 cents a share, up from $7.9 million or 10 cents a share last year. Revenue grew 32 percent to $373.7 million. Analysts had expected profit of 31 cents a share on revenue of $325.23 million.
The company's board of directors, as previously announced, has approved a fiscal year-end change from October 31 to March 31. For the three month ended December 31, 2010, the company expects adjusted earnings of 25 cents to 35 cents a share and revenue of $290 million to $315 million.
For the new fiscal fourth quarter ended March 31, 2011, the company expects adjusted loss of 50 cents to 60 cents a share and revenue of $100 million to $150 million. For the fiscal 2011, the company expects adjusted earnings of 50 cents to 65 cents a share and revenue of $1.0 billion to $1.1 billion, while Street expects 88 cents a share on revenue of $1.14 billion.
Oracle Corp. (ORCL) jumped 4.20 percent to $31.54 in the pre-market trading. The company's second quarter adjusted profit was $2.6 billion or 51 cents a share, up from $2.0 billion or 39 cents a share last year. Adjusted revenue rose 47 percent to $8.7 billion. Analysts had expected profit of 46 cents a share on revenue of $8.34 billion. Oracle declared a cash dividend of 5 cents a common share, payable on Feb. 9, 2011 to shareholders of record on Jan. 19, 2011.
In the conference call, Oracle said it expects third quarter adjusted revenue growth of 31 percent to 35 percent at current exchange rate and 30 percent to 34 percent on constant currency, ahead of analysts growth guidance of 29.9 percent to $8.4 billion. The company anticipates third quarter adjusted earnings of 48 cents to 50 cents, ahead of analysts forecast of 47 cents a share.
China Sunergy Co. Ltd. (CSUN) climbed 3.68 percent to $4.51 in the pre-market session. The company said it entered into a framework agreement with Ecoware S.p.A., a subsidiary of Kerslef Group. China Sunergy will supply 120 megawatts (MW) of PV modules, which are branded as CEEG by China Sunergy, to Ecoware S.p.A. from the fourth quarter of 2010 to the third quarter of 2011.
Veeco Instruments Inc. (VECO) improved 2.74 percent to $41.18 in the pre-market session.
Research In Motion Ltd. (RIMM) grew 2.55 percent to $60.75 in the pre-market trading. The company's third quarter profit was $911.1 million or $1.74 a share, up from $628.4 million or $1.10 a share last year. Revenue rose 40 percent to $5.5 billion. Analysts had expected profit of $1.64 a share on revenue of $5.4 billion. RIM's BlackBerry smartphone shipments soared by 40 percent to 14.2 million devices during third quarter, and about 5.1 million net new BlackBerry subscriber accounts were added.
Research In Motion expects fourth quarter earnings of $1.74 to $1.80 a share and revenue of $5.5 billion to $5.7 billion. Street expects profit of $1.61 a share on revenue of $5.47 billion. The company's board has appointed co-Chief Executive Officers, Jim Balsillie and Mike Lazaridis, as co-chairmen of the board. RIM said Jim Estill has resigned as a director due to a business conflict.
China MediaExpress Holdings, Inc. (CCME) gained 2.48 percent to $16.12 in the pre-market trading.
Powerwave Technologies Inc. (PWAV) increased 2.40 percent to $2.56 in the pre-market session.
MIPS Technologies Inc. (MIPS) rose 2.22 percent to $14.26 in the pre-market session.