The top pre-market NASDAQ stock market gainers are: LaserCard, Martek Biosciences, Adobe Systems, Incyte, Magic Software Enterprises, AudioCodes, Power-One, Netflix, ZST Digital Networks, and SanDisk.
LaserCard Corp. (LCRD) advanced 39.10 percent to $6.19 in the pre-market trading. The company said it agreed to be acquired by ASSA ABLOY AB, at a price of $6.25 a share through a cash tender offer. LaserCard would become part of ASSA ABLOY's HID Global business, after the completion of the $80 million transaction, expected in LaserCard's fiscal fourth quarter.
Martek Biosciences Corp. (MATK) surged 34.03 percent to $31.31 in the pre-market session. The company said it agreed to be acquired by the Netherlands-based Royal DSM N.V. for $31.50 a share in cash or total consideration of $1.09 billion. The offer is expected to commence between Jan. 10 and Jan. 25, 2011. The tender process would close in Feb. 2011, and the transaction would complete in the first or second quarter of 2011.
Adobe Systems Inc. (ADBE) jumped 6.25 percent to $31 in the pre-market session. The company's fourth quarter adjusted profit was $285.7 million or 56 cents a share, up from $206.8 million or 39 cents a share last year. Revenue rose 33 percent to $1.01 billion. Analysts had expected profit of 52 cents a share on revenue of $988.07 million.
Adobe Systems expects first quarter adjusted earnings of 54 cents to 59 cents a share and revenue of $1 billion to $1.05 billion. Analysts expect profit of 51 cents a share on revenue of $992.19 million.
Incyte Corp. (INCY) soared 6.06 percent to $16.10 in the pre-market trading. The company said a late stage study of a drug for treating myelofibrosis, a type of blood cancer that affects the bone marrow, showed positive results with perceptibly higher reduction in spleen volume compared with placebo. Incyte is developing the drug along with Novartis AG (NVS), which has exclusive rights to develop and sell the drug outside of the U.S.
In the late stage study COMFORT-I, the primary endpoint was the response rate defined as the percentage of myelofibrosis-patients achieving a 35 percent or greater reduction in spleen volume at 24 weeks. The results showed that the drug had a response rate of 42 percent in patients, compared with less than 1 percent randomized to a placebo, at the end of 24 weeks.
Magic Software Enterprises Ltd. (MGIC) improved 3.23 percent to $7.04 in the pre-market trading. The company said it will sell about 3.26 million ordinary shares at a price of $6.50 a share for aggregate gross proceeds of about $21.2 million. Certain of the purchasers will also receive warrants to purchase up to about 1.13 million ordinary shares at $8.26 a share. The closing of the offering is expected to occur on or about Dec. 23.
AudioCodes Ltd. (AUDC) climbed 2.81 percent to $6.21 in the pre-market session.
Power-One Inc. (PWER) rose 2.03 percent to $11.05 in the pre-market session.
Netflix, Inc. (NFLX) grew 1.99 percent to $181.59 in the pre-market trading.
ZST Digital Networks, Inc. (ZSTN) increased 1.83 percent to $7.25 in the pre-market trading.
SanDisk Corp. (SNDK) gained 1.81 percent to $50.10 in the pre-market session.