The top pre-market NASDAQ stock market gainers are: Sonic Solutions, Verigy, Aixtron, Bed Bath & Beyond, MannKind, FuelCell Energy, Sequenom, Veeco Instruments, InterMune, and Solarfun Power Holdings.
Sonic Solutions (SNIC) advanced 24.32 percent to $13.93 in the pre-market trading. Rovi Corp. (ROVI) said it agreed to buy Sonic Solutions in a stock and cash transaction having an enterprise value of about $720 million. The transaction values each of Sonic shares at $14.17, a 38.2 percent premium to its 30-day average closing price as of December 21.
Verigy, Ltd. (VRGY) surged 9.11 percent to $13.78 in the pre-market session. The company said it received a revised takeover proposal of $15.00 a share in cash from Advantest Corp. (ATE). Verigy, which is already in merger deal with LTX-Credence Corp. (LTXC), said its board continues to recommend deal with LTX-Credence to its shareholders, and is not recommending the revised Advantest proposal at this time.
Aixtron AG (AIXG) jumped 6.19 percent to $35.16 in the pre-market trading. The company said it confirmed the completion of its conversion into a European Company. With today’s entry into the commercial register of the Aachen municipal court, AIXTRON Aktiengesellschaft will in future operate and report as AIXTRON SE. An SE legal entity is a public limited-liability company under European law.
Bed Bath & Beyond, Inc. (BBBY) soared 5.98 percent to $50.52 in the pre-market session. The company's third quarter profit was $188.6 million or 74 cents a share, up from $151.3 million or 58 cents a share last year. Sales rose 11.1 percent to $2.2 billion. Analysts had expected profit of 65 cents a share on revenue of $2.11 billion. Comparable store sales increased by about 7 percent.
Bed Bath & Beyond expects fourth quarter earnings of 91 cents to 95 cents a share, while analysts forecast 93 cents a share. The company lifted its full year 2010 earnings guidance to range of $2.86 to $2.90 a share from previous forecast of $2.76 a share, while analysts forecast $2.80 a share.
Bed Bath & Beyond's board of directors has authorized a new $2 billion share repurchase program, commencing in early fiscal 2011 after completion of the existing program. The company expects that the new $2 billion repurchase program will be funded from current cash and from present and future cash flows.
MannKind Corp. (MNKD) improved 5.40 percent to $8.98 in the pre-market trading.
FuelCell Energy Inc. (FCEL) climbed 4.95 percent to $2.12 in the pre-market session.
Sequenom Inc. (SQNM) grew 2.98 percent to $7.95 in the pre-market trading. The company said its reference laboratory the Sequenom Center for Molecular Medicine has authorized commencement of a pivotal clinical validation study for its SensiGene Trisomy 21 Laboratory Developed Test to detect an overabundance in maternal blood of chromosome 21.
Veeco Instruments Inc. (VECO) increased 2.02 percent to $42.35 in the pre-market trading.
InterMune Inc. (ITMN) gained 1.93 percent to $37 in the pre-market session.
Solarfun Power Holdings Co. Ltd. (SOLF) rose 1.31 percent to $8.52 in the pre-market session. The company said it signed a long-term supplementary wafer and polysilicon product supply contract with GCL-Poly Energy Holdings Ltd. GCL-Poly will provide Solarfun with a total of 2,500 MW wafer and polysilicon products over the next five years.