The top pre-market NASDAQ stock market losers are: Cisco Systems, Micromet, Solarfun Power Holdings, RINO International, Ascent Solar Technologies, Cavium Networks, Limelight Networks, Clean Energy Fuels, Altera, and CoStar Group.
Cisco Systems, Inc. (CSCO) lost 16.70 percent to $20.40 in the pre-market session. The company's first quarter adjusted profit was $2.4 million or 42 cents a share, up from $2.1 million or 36 cents a share last year. Sales rose 19 percent to $10.7 billion. Analysts had expected profit of 40 cents a share on revenue of $10.74 billion.
Chief executive John Chamber said in a conference call that Cisco expects second quarter sales to grow 3 percent to 5 percent year-over-year, implying sales of $10.11 billion to $10.31 billion, lower than analysts forecast of $11.08 billion.
Cisco expects fiscal 2011 sales to grow 9 percent to 12 percent, implying sales of $43.64 billion to $44.84 billion, lower than analysts guidance of $45.28 billion.
Micromet, Inc. (MITI) plummeted 10.13 percent to $7.19 in the pre-market trading. The company said it plans to sell shares of its common stock pursuant to an underwriting agreement with Piper Jaffray & Co. Closing of the offering is expected to occur on or about Nov. 16.
Micromet intends to use the net proceeds from the financing primarily for general corporate purposes, which may include research and development, capital expenditures, working capital and general and administrative expenses.
Solarfun Power Holdings Co. Ltd. (SOLF) plunged 9.18 percent to $9.20 in the pre-market session.
RINO International Corp. (RINO) fell 8.73 percent to $12.03 in the pre-market session.
Ascent Solar Technologies, Inc. (ASTI) dropped 8.11 percent to $4.19 in the pre-market trading. The company said it plans to begin an underwritten public offering of its common stock. Net proceeds are expected to be used for the completion of the company's 30 megawatt FAB2 production plant and for general corporate purposes.
Cavium Networks, Inc. (CAVM) tumbled 7.46 percent to $32 in the pre-market session.
Limelight Networks, Inc. (LLNW) declined 6.66 percent to $7.43 in the pre-market session.
Clean Energy Fuels Corp. (CLNE) decreased 6.49 percent to $13.55 in the pre-market trading. The company said it plans to sell 3 million common shares in follow-on public offering, priced at $13.25 a share. Of the 3 million shares, an aggregate of 50,068 shares were purchased by its certain executive officers at a price of $14.48 per share. The offering is expected to close on Nov. 16.
Separately, Clean Energy said it has entered into an amendment to a Series I warrant to buy 1.18 million common shares. The expiration date of the warrant was changed to Nov. 10. The company agreed to pay the warrant holder about $3.2 million.
Altera Corp. (ALTR) fell 5.41 percent to $32 in the pre-market trading.
CoStar Group Inc. (CSGP) moved down 5.17 percent to $51 in the pre-market trading.