The top after-market NASDAQ stock market losers are: Cumberland Pharmaceuticals, Home Inns & Hotels Management, Landec, Gulfport Energy, XOMA, Harmonic, Charter Communications, Limelight Networks, Sequenom, and Novellus Systems.
Cumberland Pharmaceuticals, Inc. (CPIX) lost 6.13 percent to $6.89 in the after-hours trading.
Home Inns & Hotels Management Inc. (HMIN) plunged 5.48 percent to $39.13 in the after-market session. The company said it proposes to sell $160 million of convertible senior notes due 2015 through a convertible notes offering.
Home Inns plans to use the proceeds from the convertible notes offering for new business development, investments in complementary businesses and assets, strategic acquisitions and for general corporate purposes.
Landec Corp. (LNDC) plummeted 4.57 percent to $6.05 in the after-hours trading. The company lowered its fiscal 2011 earnings outlook to range of 34 cents to 36 cents a share from previous guidance of 36 cents to 41 cents a share. Analysts expect earnings of 38 cents a share.
Landec now expects fiscal 2011 revenue growth of 12 percent to 15 percent, while its original guidance for revenues, including Lifecore, was an increase of 15 percent or more compared to the $238 million in revenues in fiscal 2010. A prolonged period of cold and wet weather during November and December of 2010 in California resulted in produce shortages in Apio's value-added, fresh-cut vegetable business.
Gulfport Energy Corp. (GPOR) fell 2.52 percent to $21.63 in the after-market session.
XOMA Ltd. (XOMA) dropped 2.13 percent to $2.30 in the after-hours trading.
Harmonic Inc. (HLIT) tumbled 1.98 percent to $7.41 in the after-market session.
Charter Communications, Inc. (CHTR) declined 1.20 percent to $36.37 in the after-hours trading.
Limelight Networks, Inc. (LLNW) decreased 1.03 percent to $6.70 in the after-market session.
Sequenom Inc. (SQNM) moved down 0.86 percent to $6.51 in the after-hours trading.
Novellus Systems, Inc. (NVLS) fell 0.86 percent to $32.45 in the after-market session.