Benzinga’s Top Pre-Market Losers (SSTI, UTSI, MDVN, CIEN, ARMH)

Silicon Storage Technology, Inc. (NASDAQ: SSTI) decreased 6.15% to $3.05 in the pre-market session. Silicon Storage Technology announced today that it has entered into an amendment to its previously announced merger agreement with Microchip Technology Incorporated (Nasdaq: MCHP). Under the terms of the amended agreement, the purchase price for each share of SSTI common stock has been increased from $3.00 to $3.05 per share in cash. SSTI made a new 52-week high at $3.38 in the previous trading session. SSTI has gained over 64% in the last six months.

UTStarcom, Inc. (NASDAQ: UTSI) tumbled 4.11% to $2.10 in the pre-market session. UTSI closed at $2.19 in the last trading session. The 52-week trading range for UTSI is $0.63 - $2.54. UTStarcom has surged over 212% in the last year.

Medivation, Inc. (NASDAQ: MDVN) declined 3.13% to $11.75 in the pre-market session. The 52-week trading range for MDVN is $12.01 - $40.49. Medivation has declined over 20% in the last year. MDVN closed at $12.13 in the last trading session.

Ciena Corporation (NASDAQ: CIEN) declined 2.25% to $15.65 in the pre-market session. Ciena Corporation announced today that it intends to sell approximately $250 million in aggregate principal amount of Convertible Senior Notes due 2015 in a private offering. CIEN closed at $16.01 in the last trading session. In the last six months, CIEN has surged over 17%.

ARM Holdings plc (ADR) (NASDAQ: ARMH) fell 1.23% to $10.43 in the pre-market session. The 52-week trading range for ARMH is $3.68 - $10.61. ARM Holdings has gained over 65% in the last six months.