Benzinga’s Top Pre-Market Losers (SASR, CPEX, FDX, MGIC)

Sandy Spring Bancorp Inc. (NASDAQ: SASR) decreased 9.32% to $13.52 in the pre-market session. Sandy Spring Bancorp announced that it has priced a public offering of 6,500,000 shares of common stock at $13.50 per share for gross proceeds of approximately $87,750,000. The 52-week trading range for SASR is $8.19 - $17.92. SASR has gained over 38% in the last year.

CPEX Pharmaceuticals, Inc. (NASDAQ: CPEX) fell 4% to $15.12 in the pre-market session. CPEX Pharmaceuticals, Inc. announced preliminary results related to its Phase 2a proof-of-concept clinical trial of the Company's nasal insulin product, Nasulin. CPEX closed at $15.75 in the last trading session. The 52-week trading range for CPEX is $6.76 - $16.99.

FedEx Corporation (NYSE: FDX) declined 3.12% to $87 in the pre-market session. FedEx Corporation reported today a third-quarter profit of $239 million, or $0.76 per share, from $97 million, or $0.31 per share, for the same quarter last year. Total revenue increased to $8.70 billion, as compared to $8.14 billion in the year ago period. The 52-week trading range for FDX is $41.10 - $92.59. FDX has climbed over 136% in the last year.

Magic Software Enterprises Ltd. (NASDAQ: MGIC) fell 1.61% to $3.06 in the pre-market session. Magic Software Enterprises made a new 52 week high at $3.15 in the last trading session. MGIC closed at $3.11 in the last trading session. In the last six months, MGIC has surged over 78%.