The top pre-market NASDAQ stock market losers are: Brocade Communications Systems, Harbin Electric, Jack in the Box, JA Solar Holdings, Wonder Auto Technology, DryShips, ARM Holdings, Brigham Exploration, Riverbed Technology, and Hercules Offshore.
Brocade Communications Systems, Inc. (BRCD) lost 8.25 percent to $5.23 in the pre-market trading. The company's fourth quarter adjusted profit was $66 million or 14 cents a share, down from $73 million or 15 cents a share last year. Revenue rose 5.5 percent to $550.3 million. Analysts had expected profit of 13 cents a share on revenue of $536.59 million.
Harbin Electric, Inc. (HRBN) plummeted 6.37 percent to $16.76 in the pre-market trading. The company said its board received amended offer from chief executive Tianfu Yang to take Harbin Electric private at $24 a share. The amendment to the agreement was regarding the financing options available with Tianfu Yang.
Jack in the Box Inc. (JACK) plunged 6.03 percent to $21.21 in the pre-market session. The company's fourth quarter profit was $4 million or 7 cents a share, down from $40.6 million or 70 cents a share last year. Sales rose to $563.21 million from $540.29 million. Analysts had expected profit of 36 cents a share on revenue of $543.25 million. Same-store sales at Jack in the Box company restaurants decreased 4.0 percent.
Jack in the Box expects first quarter same-store sales to range down 1 percent to up 1 percent. The company also expects fiscal 2011 adjusted earnings of $1.41 to $1.68 a share and same-store sales of down 2 percent to up 2 percent. Analysts expect profit of $2.05 a share for fiscal 2011.
JA Solar Holdings Co., Ltd. (JASO) moved down 3.39 percent to $7.42 in the pre-market trading.
Wonder Auto Technology, Inc. (WATG) fell 3.11 percent to $8.10 in the pre-market session.
DryShips, Inc. (DRYS) dropped 2.75 percent to $5.30 in the pre-market trading.
ARM Holdings plc (ARMH) tumbled 2.63 percent to $18.14 in the pre-market session.
Brigham Exploration Co. (BEXP) decreased 2.54 percent to $24.95 in the pre-market session.
Riverbed Technology, Inc. (RVBD) declined 2.44 percent to $32.45 in the pre-market trading.
Hercules Offshore, Inc. (HERO) fell 2.34 percent to $2.50 in the pre-market session.