Benzinga’s Biggest Losers (BRCD, GRO, LONG, WH, WMG, ABIO)

Brocade Communications Systems, Inc. (NASDAQ: BRCD) fell 7% to $7.28 huge volume of 46 million shares after BRCD’s chief executive denied that the company was looking for a buyer despite recent reports showed that BRCD had put itself up for sale. The 52 week trading range for BRCD is $2.05 - $9.84. Yesterday, BRCD closed at $7.80.

Agria Corporation (ADR) (NYSE: GRO) plummeted 12% to $3.68 on 1.62 million shares after yesterday’s 25% rise on the back of positive news from SEED. So far this year, GRO is up over 143%.

eLong, Inc. (ADR) (NASDAQ: LONG) declined 13% to $14.38 on after LONG reported Q3 EPS of $0.04, 7 cents better than the analyst estimate of ($0.03). Revenue for the quarter was $15.12 million, which compares to the estimate of $12.85 million.

WSP Holdings Limited (NYSE: WH) plunged 21% to $3.45 on 1.30 million shares after WH reported Q3 loss of $0.11, compared to $0.29 in the same quarter last year. Revenue for the quarter was $90.2 million, which compares to the estimate of $141.56 million.

Warner Music Group Corp. (NYSE: WMG) declined 9.35% to $6.40 on after Warner Music posted a loss in the fourth quarter as severance costs weighed on results despite a strong slate of music releases from artists including Jay-Z and Madonna.

ARCA biopharma, Inc. (NASDAQ: ABIO) is trading at $3.64, decreased by $0.68 or 15.78% after ABIO said the U.S. Food and Drug Administration has selected its drug Gencaro for a Fast Track development program. The FDA is investigating the drug for the reduction of cardiovascular mortality and cardiovascular hospitalization in a genotype-defined heart failure population.