The top pre-market NASDAQ stock market gainers are: Mercer Insurance Group, OmniVision Technologies, Xenoport, Mecox Lane, Acergy, SodaStream International, L & L Energy, Orckit Communications, and Savient Pharmaceuticals.
Mercer Insurance Group Inc. (MIGP) surged 47.88 percent to $27.89 in the pre-market session. The company agreed to be acquired by United Fire & Casualty Co. (UFCS) for $28.25 a share in cash or about $191 million. The transaction is expected to close at the end of the first quarter of 2011.
OmniVision Technologies Inc. (OVTI) soared 8.84 percent to $30.79 in the pre-market trading. The company's second quarter adjusted earnings were $34.2 million or 58 cents a share, up from $14.3 million or 27 cents a share last year. Revenue rose to $239.5 million from $183.3 million. Analysts had expected profit of 52 cents a share on revenue of $231.21 million.
OmniVision expects third quarter adjusted earnings of 50 cents to 63 cents a share and revenue of $230 million to $250 million. Analysts expect profit of 42 cents a share on revenue of $211.17 million.
Xenoport, Inc. (XNPT) jumped 6.06 percent to $8.22 in the pre-market session.
Mecox Lane Ltd. (MCOX) improved 5.40 percent to $8.59 in the pre-market trading.
Acergy SA (ACGY) climbed 4.63 percent to $21 in the pre-market session.
SodaStream International Ltd. (SODA) grew 4.58 percent to $34.51 in the pre-market trading.
L & L Energy, Inc. (LLEN) increased 4.07 percent to $11 in the pre-market session. The company said in a regulatory filing that it has agreed to provide a bridge loan of up to $3 million to Bowie Resources, LLC.
Orckit Communications Ltd. (ORCT) rose 3.36 percent to $2.77 in the pre-market trading. The company said it has priced a public offering of 3.05 million ordinary shares and warrants to buy 1.83 million ordinary shares. The ordinary shares and warrants are being offered in units each with one ordinary share and a 5-year warrant to buy 0.60 of an ordinary share, at $2.75 a unit.
Savient Pharmaceuticals, Inc. (SVNT) gained 3.31 percent to $12.19 in the pre-market trading. The company said it is commencing shipment of KRYSTEXXA to specialty distributors and that KRYSTEXXA will be commercially available by prescription in the United States effective December 1.