The top pre-market NASDAQ Stock Market gainers Thursday are: Fushi Copperweld, Yahoo, ARM Holdings, Research In Motion, Baidu, Apple, and Cisco Systems. The top pre-market NASDAQ Stock Market losers are: Amazon.com, Makita, OmniVision Technologies, Teva Pharmaceutical Industries, and LM Ericsson Telephone.
Fushi Copperweld, Inc. (FSIN) stock grew 9.92 percent to $8.20 in pre-market trading. The company said the special committee of its board of directors has received a revised takeover offer from its chairman and co-chief executive officer Li Fu and private equity firm Abax Global Capital Hong Kong Ltd. Another private equity firm TPG Growth Asia Inc., an affiliate of TPG Capital L.P., has joined the chairman-led group in the buyout offer. The revised proposal to acquire the company in a going private transaction for $9.50 per share in cash is higher than the $9.25 per share offer submitted by Fu and Abax in mid-November, but is lower than the $11.50 per share offer initially submitted by Fu and Abax in early November 2010. Further, the company said the latest offer does not contain customary financing commitments and is still highly conditional. Fushi's special committee will carefully review the revised proposal and notify shareholders of its position regarding the revised proposal in due course.
Yahoo Inc. (YHOO) stock gained 1.52 percent to $16.02 in pre-market trading. According to the Financial Times, Alibaba Group has hired Duberstein in the latest sign that Alibaba is considering a bid for the whole of Yahoo, if talks to buy back the US rival's Asian assets fall through.
ARM Holdings plc (ARMH) stock increased 1.44 percent to $27.40 in pre-market trading.
Research In Motion Ltd. (RIMM) stock moved up 0.63 percent to $14.34 in pre-market trading.
Baidu, Inc. (BIDU) stock moved up 0.43 percent to $117 in pre-market trading.
Apple Inc. (AAPL) stock moved up 0.39 percent to $404.20 in pre-market trading. BMO Capital Markets has raised its profit estimates of Apple, saying the Cupertino, California-based technology giant would benefit from material upgrades of Sprint customers.
Cisco Systems, Inc. (CSCO) stock moved up 0.22 percent to $18.20 in pre-market trading.
Amazon.com Inc. (AMZN) stock declined 1.63 percent to $171.05 in pre-market trading.
Makita Corp. (MKTAY) stock moved down 0.93 percent to $31.4634 in pre-market trading.
OmniVision Technologies Inc. (OVTI) stock moved down 0.91 percent to $12 in pre-market trading.
Teva Pharmaceutical Industries Ltd. (TEVA) stock moved down 0.49 percent to $40.59 in pre-market trading.
LM Ericsson Telephone Co. (ERIC) stock moved down 0.15 percent to $9.8847 in pre-market trading.
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