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Market Overview

Benzinga’s Top Pre- Market Losers (CMED, NTES, MVIS, HOTT, AFFY, COMV)

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China Medical Technologies, Inc. (ADR) (NASDAQ: CMED) decreased $2.56 or 16.90% to $15.15 after it reported a second quarter net loss of RMB 47.09 million against a profit of RMB 117.73 million from the same quarter last year. Net earnings were RMB 17.67 million as compared to RMB 102.09 million. CMED also provided its third quarter revenue guidance. Yesterday, CMED closed at $15.15.

NetEase.com, Inc. (ADR) (NASDAQ: NTES) plunged 8.36% to $37.35 after it reported a third quarter net profit of RMB 393.8 million against 313.3 million. Total revenues for 3Q2009 were RMB 879.4 million as compared to RMB 806.6 million from the same quarter last year. The 52 week trading range for NTES is $15.00 -$48.50.

Microvision, Inc. (NASDAQ: MVIS) plunged 16% to $3.45 in the pre-market. Yesterday, Microvision, Inc. announced that it plans to offer common stock in an underwritten public offering. In 2009, shares of MVIS gained over 144%. The 52 week trading range for MVIS is $0.77 - $5.75.

Hot Topic, Inc. (NASDAQ: HOTT) plummeted 11.90% to $5.87 in the pre-market trading. So far this year, HOTT is down 28%. Yesterday HOTT announced that for 4Q2009, it expects earnings to be below analysts’ expectation.

Affymax, Inc. (NASDAQ: AFFY) decreased 4.02% to $19.89 after Affymax announced that it plans to offer shares of its common stock in an underwritten public offering.

Comverge, Inc. (NASDAQ: COMV) declined 4.48% to $10.87 in the pre-market session. So far this year, COMV is up over 119%.

 

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