The top pre-market NASDAQ stock market losers are: Cardica, Tower Bancorp, Apogee Enterprises, Gaming Partners International, Caribou Coffee Company, Qiagen, VeriSign, Baidu, Dendreon, and Micron Technology.
Cardica Inc. (CRDC) lost 14.32 percent to $3.29 in the pre-market trading. The company said it has entered into a common stock purchase agreement with Aspire Capital Fund, LLC, an Illinois limited liability company, which provides that Aspire Capital is committed to buy up to $10 million of Cardica's common stock over the next two years.
Tower Bancorp Inc. (TOBC) plunged 6.49 percent to $21.05 in the pre-market trading. The company said it has priced an underwritten public offering of 2.20 million shares of its common stock at $20.25 a share for gross proceeds of $44.5 million.
Apogee Enterprises, Inc. (APOG) plummeted 5.84 percent to $11.45 in the pre-market session. The company's third quarter loss was $2.3 million or 8 cents a share, compared to profit of $10.7 million or 39 cents a share last year. Sales declined 18 percent to $147.2 million. Analysts had expected a loss of 10 cents a share on revenue of $151.86 million.
Apogee expects fiscal 2011 companywide revenues to be down about 17 percent, with fourth-quarter revenues comparable to the prior-year period. The company anticipates a loss for the fourth quarter and the full year, as expected profit in large-scale optical segment will be unable to offset architectural segment losses. Apogee predicts to be profitable for fiscal 2012 as architectural glass price increases should begin to flow through early in the year.
Gaming Partners International Corp. (GPIC) fell 3.43 percent to $5.70 in the pre-market session.
Caribou Coffee Company, Inc. (CBOU) tumbled 2.33 percent to $10.08 in the pre-market trading.
Qiagen NV (QGEN) dropped 1.62 percent to $19.45 in the pre-market session.
VeriSign Inc. (VRSN) decreased 1.06 percent to $33.65 in the pre-market trading.
Baidu, Inc. (BIDU) fell 0.79 percent to $99.41 in the pre-market session. The company sees profit and revenue growth rates to moderate over the next year, Reuters reported.
Dendreon Corp. (DNDN) declined 0.61 percent to $36 in the pre-market session.
Micron Technology Inc. (MU) moved down 0.51 percent to $7.88 in the pre-market trading, ahead of its annual shareholders meeting to be held in Boise, Idaho, corporate headquarters at 11:00 am ET.