The top pre-market NASDAQ stock market losers are: Geron, Fuel Systems Solutions, Avago Technologies, Wintrust Financial, Ariad Pharmaceuticals, RealPage, and Research In Motion.
Geron Corp. (GERN) lost 16.50 percent to $5.11 in the pre-market trading. The company said it is offering to sell shares of its common stock in an underwritten public offering.
In a separate release, Geron said it agreed with Angiochem Inc., for a worldwide exclusive license to peptide technology to facilitate the transfer of anti-cancer compounds across the blood-brain barrier. Geron anticipates rapid marketing approval for GRN1005 if the early-stage results were confirmed in the mid-stage study.
Fuel Systems Solutions, Inc. (FSYS) plunged 7.91 percent to $33.66 in the pre-market session. The company lowered its fiscal 2010 revenue guidance to range of about $420 million to $430 million from previous forecast of $425 million to $450 million, while Street expects $440.61 million.
The company expects fourth quarter revenue to reflect softer European automotive purchases consistent with near-term economic trends in the region partially offset by continued strength in the IMPCO business. In a separate release, Fuel Systems said it has began a public offering of 2 million shares of its common stock.
Avago Technologies Ltd. (AVGO) fell 6.29 percent to $25.16 in the pre-market session. The company announced the sale of 25 million ordinary shares by its certain existing shareholders. Avago will not receive any proceeds from this offering.
Wintrust Financial Corp. (WTFC) plummeted 5.68 percent to $30.40 in the pre-market trading. The company said it has began an underwritten public offering of about 3.2 million shares of common stock and a separate offering of 4 million tangible equity units.
Ariad Pharmaceuticals Inc. (ARIA) dropped 2.05 percent to $4.30 in the pre-market trading.
RealPage, Inc. (RP) tumbled 1.70 percent to $25.41 in the pre-market session. The company said it priced a common stock offering of 9 million shares consisting of 4 million shares sold by RealPage and 5 million shares sold by certain selling stockholders at $25.75 a share. The offering is expected to close on Dec. 10.
RealPage said it will receive about $97.7 million in net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses. RealPage will not receive any proceeds from the shares of common stock offered by the selling stockholders.
Research In Motion Ltd. (RIMM) declined 0.56 percent to $62.97 in the pre-market trading.