The top pre-market NASDAQ stock market losers are: Cumberland Pharmaceuticals, Xilinx, XOMA, Capitol Federal Financial, Altera, Hercules Offshore, LM Ericsson Telephone, InterMune, Sino Clean Energy, and Vodafone Group.
Cumberland Pharmaceuticals, Inc. (CPIX) lost 13.04 percent to $6 in the pre-market session. The company said FDA did not approve the use of its liver drug Acetadote for an additional indication. The FDA said in its complete response letter that there was not sufficient evidence of efficacy for the proposed indication of increasing survival in all patients with acute liver failure.
Xilinx Inc. (XLNX) plunged 4.30 percent to $27.17 in the pre-market trading. The company lowered its sales guidance for the third quarter to down about 7 percent to 9 percent sequentially from previous forecast of flat to down 4 percent sequentially, due to weaker than anticipated sales to a few large communications customers specifically in its wireless segment.
Xilinx expects sales growth to return to the communications segment in the March quarter based on current backlog and forecast from its large customers. The company is slated to report its third-quarter results on January 19.
XOMA Ltd. (XOMA) plummeted 4.20 percent to $3.88 in the pre-market session.
Capitol Federal Financial (CFFND) fell 3.68 percent to $11.25 in the pre-market trading.
Altera Corp. (ALTR) dropped 2.35 percent to $34.97 in the pre-market session.
Hercules Offshore, Inc. (HERO) tumbled 1.68 percent to $3.51 in the pre-market trading.
LM Ericsson Telephone Co. (ERIC) slid 1.64 percent to $11.40 in the pre-market session. The company announced the acquisition of US-Spanish telecommunications vendor Optimi Corp. for undisclosed terms. The acquisition brings in about 200 highly skilled professionals and a portfolio of services and tools.
InterMune Inc. (ITMN) decreased 1.07 percent to $33.40 in the pre-market trading.
Sino Clean Energy Inc (SCEI) declined 0.88 percent to $5.62 in the pre-market session. The company said it priced a public offering of 5.47 million common shares at $5.25 a share. The offering is expected to close on Dec. 28. Sino Clean Energy will receive net proceeds of around $25.6 million after deducting underwriting discounts and commissions and estimated offering expenses payable by the company.
Sino Clean expects to use net proceeds from the offering to expand its coal-water slurry fuel, or CWSF, production capacity at new and existing facilities throughout China, to pay the remainder of the purchase price under an agreement to purchase land use rights and a production factory in Dongguan, Guangdong Province and for working capital and general corporate purposes.
Vodafone Group plc (VOD) moved down 0.87 percent to $26.25 in the pre-market trading.